Infill housing is growing in Edmonton! It is a great opportunity to live near the hub of the city, and be within walking distance of all the best amenities that an established neighbourhood provides. And, it’s more affordable than you may think! Here’s 5 ways that you can achieve affordable infill and maximize the value of your next build:
Quality over quantity
Focus more of your budget on the basic building blocks such as a quality foundation, electrical, plumbing, ductwork, heating and cooling, roofing and windows; the fundamentals that are harder to update later on and that can help achieve some instant savings on things like heating and cooling costs. Non-essential items like adding on a back splash, building a deck, installing blind packages etc. can be added at a later date as both your time and budget allow.
Build up
Consider adding a second-story. By doing so, you are easily able to double the square footage while not doubling the foundation and roofing cost which often account for two of the biggest expenses when building your next home.
Centralize the plumbing
Spend some time with an experienced interior designer who can help you create a functional layout that best serves your needs, while allowing heavy plumbing areas to be in close proximity to reduce the cost of running plumbing all across the house.
Think simple, Combine brands
By shopping around and utilizing more than one supplier for fixtures and finishes, you can often achieve better value for your spend. And, don’t be afraid to go with basic finishes. This will make updating easier and less costly when considering preserving the value of your home long term.
2 for 1
Consider purchasing a larger infill housing lot with a family member or friend for the purpose of subdividing. It’s a great way to reduce your overall spend by reducing your cost of the land. If unable to find someone to subdivide a property with; reach out to your new home developer to see if they would be willing to help. Alternately, consider adding on a basement or garage suite as a form of extra revenue.
Ready to start building or investing in your next home? Contact Us, we would love to help you get started!