Unless you plan to stay in a home for the rest of your life,
resale value should be a major consideration when purchasing a house.
Home-ownership is a huge financial investment and the goal should be to get as
much monetary return as possible when you sell.
While you can’t always predict what the future holds for the real estate
market, there are some basic guidelines for what kind of properties have good
resale value.
Don’t make the error of
focusing only on what you want when doing your
home search.
Think about the following
factors that will affect the resale value:
1.
LOCATION - This should be a primary
consideration when
looking for a home that will provide a good return on your investment.
A desirable location is likely to remain a
hot market for home sales.
Think about
the school district you will be in.
Even
if you don’t have children in school, a top district will draw many
buyers.
Different people will be looking
for different things, but most buyers will want basically the same things from
the
location of their home.
2.
NUMBER OF BEDROOMS - A house with more than two
bedrooms will sell faster and for a better price than one with only one or two
bedrooms. Even a couple with no children
will want extra space for an office or guestroom (or both).
3.
NUMBER OF BATHROOMS - Buyers will expect to pay much
less for a home with only one bathroom.
If people are choosing between a house with one bathroom and one with
two, they will almost always be willing to spend a little extra to get that
additional restroom.
4.
GATHERING SPACE - Buyers want a large, informal
space for relaxing and entertaining family and friends.
You will get more value out of a
spacious family room than you will out of a formal living room.
5.
STORAGE - These days people have a lot of
“stuff” and they need places to put it all.
Storage space, including closets, a pantry and loads of cabinets will
improve the odds of getting high bids for your house.
6.
GARAGE - People who live in suburban areas need
places to park their cars. A covered
parking place or two is ideal.
7.
OPEN FLOORPAN - Buyers are looking for homes
with
open spaces and rooms that flow from one to the next.
A house with an open floorplan will improve
your chances for a profitable resale.
8.
OVERALL CONDITION - A property that is
well-cared for,
updated and remodeled will greatly enhance resale value.
Focus on rooms that matter most to buyers -
kitchens and bathrooms. Make sure everything is in good working order.
Some people might be looking for a fixer
upper, but many buyers are willing to pay a premium for a move-in ready home.
YOUR HOMESEARCH STARTS HERE FIND OUT WHAT YOUR HOME IS WORTH
