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as far as i know quality of finish matters too. i find it hard to believe that the run off the mill project builder's house with standard inclusions/selections will be valued the same as a quality house with a similar floor plan/block size but high quality finish/appliances. sure, you're not going to get 100% of the difference in price, but they aren't going to be the same. there is a reason some valuers actually go inside the house and look at it when making a valuation, and don't just look at the plans.
but i wasn't even talking about that. i was talking about features that may cost a lot but not add anything to valuation. like a swimming pool or a spa, or a fireplace, or fancy skylights.
and yes the whole point isn't to change the valuation, it's to remove stuff that you still have to pay for, but that doesn't contribute to valuation being higher. and then do it later when you have money if you still want it.
but i wasn't even talking about that. i was talking about features that may cost a lot but not add anything to valuation. like a swimming pool or a spa, or a fireplace, or fancy skylights.
and yes the whole point isn't to change the valuation, it's to remove stuff that you still have to pay for, but that doesn't contribute to valuation being higher. and then do it later when you have money if you still want it.
It matters *somewhat* but only where there are comparable sales, ie himes with a similar level of finish that have recently sold in the area. If there are no comparable sales, the finishes don't mean squat.
Like I said there are more important factors that drive a homes market value.
i'm not talking about driving the home value up, i'm talking about driving the construction cost down. but doing it in a meaningful way, so instead of removing something that has virtually no bearing on the valuation, remove the items that don't add anything to it.
Think back to your build, could you cut out ~70k and still be happy with the outcome just to meet the bank val?