Buying a home is one of the most significant investments a person will make in their entire life. As this is a big financial purchase, it is also an emotional one. One may find themselves focusing solely on personal preferences or the property details. After all, this house could become home, and buyers often lean towards purchasing a house according to their style and taste.
However, one aspect most buyers often fail to consider is the property’s resale value. In some instances, they forget that they will not live in that house for the rest of their lives. It is wise to consider how other buyers may view the property. For example, a vintage Victorian home may seem charming on the exterior, but will future buyers appreciate its creaky floors and odd-sized windows?
In this case, it is prudent to plan. It may seem strange to plan the resalel of a house before it’s purchased. However, a buyer should consider purchasing a house with good resale value. In that way, the buyer will determine whether the house is a good investment. A property with questionable resale value may not be worth the money and time money in the long run.
Here are home resale value factors for you to consider as you go through your home purchasing journey.
1) The home must be in a prime location
Location is a principal factor in real estate resale values. Ideally, the home must be in an up-and-coming neighborhood with rising home prices. The house location must be attractive to buyers. Moreover, the area must be continually developing to keep up with competing properties.
2) The home must have a timeless layout
Buyer home preferences change over the years with passing trends in the market. Thus, it is wise to purchase a home whose layout is bound to age well. A buyer should be aware of preferences regarding the number of rooms, general floor plan, etc.
3) The home must be in top condition
A house does not necessarily need to be new — it just has to be in the best condition. Appraisers adjust an average of $14,000 for overall condition and $1,000 for age, making it acceptable to buy an older home as long as it has been and will be properly maintained. With that, the house will have a competitive resale value in the future.
4) The home must be located in a safe neighborhood
Buyers give utmost importance to the neighborhood where the home is. If the street is safe and quiet, the house will have a high resale value. For example, houses in Palisades DC real estate are in one of Washington DC’s most desirable neighborhoods. To purchase city homes that offer a relaxed vibe in that area, buyers must contact real estate agents Washington DC.
Purchase a house with a good resale value today
Heller Colley Reed is the authority on customer service, professionalism, and expertise in handling real estate. Contact Leigh Reed at 301.674.2829 or send an email to hellercoleyreed(at)gmail(dotted)com.