7 Signs That a Home Will Have a Good Resale Value
It may seem like a funny idea to think about selling a home before you have even purchased it, but it is key to bear in mind that a home is an investment so you will want to give this some thought. While you need to make things rank of high importance that you absolutely need in a home, you should still consider the area and how it will appeal to future buyers as well. The general economy and how it will fair when the time comes for you to sell is anyone’s guess, but there are some signs that you can pay attention to on a micro level. Here are some tips to consider:
Take into consideration the area amenities. Are essential things like grocery stores, gyms, dry cleaners and the like nearby? You may hear of things that are to come for development, but always bank on what is there now as plans can always change.
The Actual Street
While you will want to close to area amenities with ease, you may not want to select a home on a busy street. While you and the current buyer may enjoy living on a hopping street, not every future buyer will enjoy this where your pool may be smaller.
You may forecast in your mind that an area is a good investment that is on the rise, but more thought needs to go into this equation. Consider the actual house in question. How are the systems like AC and electrical? Are there new windows and are they high impact? While the area could increase in value, you still may not be ahead of the game if there are significant improvements that are needed.
You may not consider this if you are child-free, but depending on the type of home you buy the next buyer may have kids so school systems are important.
It is not an accident that when referring to a home as bright, “cheery” also tends to be a following adjective. Homes that get great natural light provides a good, positive feeling and are often more sought after. Visit the home at different times if possible to see how the light affects the space.
While some homes can offer drama with their finishes and style, always consider the layout. Is it functional or even family-friendly? Give some thought to who other potential buyers may be and ask yourself if you think the home could work for them. Is there more than one bathroom? Is there at least one bathtub? Is the kitchen an open concept? These are all valid questions.
While there are many good things that a Homeowners Association can take care of and monitor, you will want to be sure it is not too restrictive. If the bylaws are reasonable, then having an HOA can actually be a good thing. They can keep things well maintained and prevent your neighbors from doing things that could influence your home’s value negatively.