Are you making a good investment? Let’s talk about buying a home with resale potential! If you aren’t into videos, jump ahead to read the transcript.
Last week we talked about why buying the nicest home in the neighborhood isn’t always a great idea, especially for resale value. You can find that post HERE if you missed it. There are a lot of other things to think about when it comes to resale value as well! Today I want to go through the top 3 other things that are important to consider.
Most people aren’t exactly thinking about selling their house while they are looking at buying that house. It’s a little counter-intuitive and it’s certainly not as much fun to think about as decorating your new home!
I can’t wait to move into this house so we can sell it…”
It is, however, an important thing to consider because chances are good that, at some point, you are going to resell the house. We want to make sure that when we do that, you have access to as many buyers as possible.
So, there are 3 things that most everyone is going to consider. Let’s jump right in!
Whether you personally are planning on having kids or not, school districts directly influence a homes value. The better the school district, the higher value the homes will be. This is just one of those things that gets tied together. Lots of people that buy homes do so because of a change in their family. You want to make sure that if you can buy in a good school district, you do. That way, when we do sell down the road, everyone is so excited to have the opportunity to live in that great school district. My favorite website for neighborhood and school ratings is niche.com
Location, Location, Location
The second thing is of course something we talk about all the time. Truly though, it is basically the only thing you can’t change about a home. You can change everything all the way to tearing the house down, but you can’t change the area. You really want to pay attention to where the home is. Whether you want something super urban and walkable, or quiet and on a cul-de-sac, you want to really hone in on those areas. That is what the majority of people are going to want. It is going to be much harder to sell a home sitting right on top of a freeway than it is to sell a home in the hills with a view. Everyone of course wants different things, but be mindful of whether what you want will also appeal to the masses.
Flow and Floor Plan
The last thing is the layout and feel of the home. You might notice this the minute you walk in. Some houses just have weird floor plans. They will feel odd while we are touring them. Some houses may have a very specific floor plan that is exactly perfect for your family, and if that is the case, go ahead and buy it. Just know it may be harder to sell down the road. 3 bedroom 2 bathroom homes are always going to be the most popular. Also consider the actual structure of the home. A 1 level home is worth slightly more than a 2 level home of the same size. Homes that follow the Feng Shui guidelines are going to be more desirable than homes that don’t. These are all things that we know quite a bit about, so feel free to pick our brains while we are out looking at homes.
Having a good realtor to help guide you through all of these steps is so important. On average, people are going to sell their homes after 7-10 years and we don’t want you to come back to us after that time and then find out your home will be hard to sell. That means that while we are looking at homes, we are going to point out things that may or may not be desirable. That way we can be certain that no matter how long you live in your home, you are making a good choice, a good investment, and that you’ll be able to sell your house again when you eventually want to do so!
If you have any questions about this, or you want to talk about buying or selling in general, we would love to chat with you! Fill out the form below or give us a call and we will talk to you soon. Hope to hear from you!