While buying any property, it’s a good idea to keep the resale value in mind. When you are ready to sell the property and move on, you want to get a high valuation. Here are some basic things to look out for.
Look for a stable local economy. This will help your home keep its value, and will also attract buyers to the area. Local economies in boom or bust are inherently unstable, and may not be attractive to buyers in the future.
Is there a mix of residential and commercial property in the area? This indicates an income source for the city, something that helps maintain a stable local economy.
How good are the local government services like schools and libraries? Good schools are an excellent draw for future buyers. Even if you don’t have kids, future buyers might, so check into the local school districts. Buy your house in a good school district, when possible.
Location is vital, but view isn’t everything. Don’t pay an exorbitant amount for a good view in the hopes of getting the money back in a future sale. The view from a property may be important, but don’t count on future buyers feeling the same way.
Know what most buyers want. Three- and four-bedroom houses on level, regular-shaped lots are the most popular. Closets and storage are a big plus. Kitchens are the most important room in the house, so the kitchen should be up to date and have a good traffic flow.
Hope you found this useful. Give me a call if you have any questions.