Buying a Home With an Eye For Resale Value

As you start looking for a new home, you probably aren't even considering your NEXT move. You probably just want to get this one taken care of! But it is always prudent to shop for a new home with an eye on potential resale value down the road. No one can predict what the future will bring, but here are some simple things you can look for:

* Views: Homes with a view often sell for a premium. If a view is important to you, buy it for your own pleasure. You may place a certain dollar value on the view; but when it comes time for you to sell, you may find that not all buyers are like-minded.

* Lot Size and Shape: Level or rectangular lots are the most desirable. But much of the value in real estate is concentrated in the house, so significant investments in landscaping may not pay themselves back upon resale. And as a buyer, do not pay a premium for someone else's landscaping efforts.

* Neighborhoods: Houses will vary in size from neighborhood to neighborhood. The best advice always is to purchase a smaller home in a nicer neighborhood. Buying what you need in a more prestigious neighborhood may provide more financial reward later, compared with buying something bigger in a less desirable neighborhood.

* Closets: Walk-in closets are very desirable, especially in the master bedroom. Closet space is always an issue.

* Kitchens and Baths: A spacious, updated kitchen is among the most important features in a home. Updated baths are also important.

* Garages: These add resale value.

* Backyard Features: Decks and patios generally yield almost a dollar-for-dollar return. But swimming pools do not always provide added value depending on buyer preferences.

 

I'd be happy to answer any questions you have and show you properties that meet your needs. Please call or email me when you are ready to look for a new home.

Amanda King

Amanda King

Broker
CENTURY 21 Millennium Inc., Brokerage*
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