How to Find a Home With Good Resale Value

What if I gave you advice to think about selling your home while you are buying it? Most buyers look at potential homes with a very narrow lens based on their personal taste. While it is smart to make sure that a home will fit your wants and needs, you should also consider what the average home buyer will be looking for when buying a house. A home purchase is an investment and it is wise to consider resale value while making a purchase.

What is Resale Value?

Resale value is a term used in real estate defined as the estimated value a house would sell for at market in the future. Some things that affect resale value are home improvements, location, and the age and condition of the home.

Location & Amenities

One of the biggest factors that affects resale value is one you cannot change about it, the location. Proximity to local amenities such as shopping, healthcare, and restaurants is appealing to many buyers. Consider its distance from major routes and highways that can give owners ease of commute. Conversely, make sure the street itself that the house sits on is nice and quiet. Although buyers want to get to a highway quickly, they don’t want it next to their backyard.

Good School District

A well-esteemed school district is another great selling point for homes on the market. Many buyers are looking for homes where they know they have access to quality public education for their children. While this isn’t important to every buyer, it is non-negotiable for many. Buying a home in a good school district will make it easier to sell when it is time.

Major Systems in Good Repair

One of the biggest turn-offs for buyers are major systems that need to be replaced in a home. When they see major maintenance that will need to be addressed within the first 3 years of living there, they also see dollar signs that they don’t want to spend. Having heating and cooling units that are updated and properly maintained will go a long way. A roof that is under 10 years old will also help you sell your property quicker.

An Appealing Floor Plan

Purchase a home that can work for a variety of home buyers. If you are considering making renovations, don’t make them so personal that they will dissuade buyers from purchasing your house. Do not close off rooms; keep an open floor plan. Avoid home improvements like putting a master bedroom in the basement.

 Even if you feel you have found your forever home it is still prudent to think about how well your house would sell in the real estate market. Unforeseen life events may result in a need for you to sell your home quickly. Consider resale value while purchasing your next home. A home that retains resale value will allow your real estate investment to make money.