While in pursuit of a home you love, you need to make sure it is also a home others will love later down the road. You may be searching for your dream home, but odds are you won’t be in that home forever.
While in pursuit of a home you love, you need to make sure it is also a home others will love later down the road. You may be searching for your dream home, but odds are you won’t be in that home forever.
Keep the resale value of the house in mind, and you will fall in love with a house you (and others) will love. Below are some tips to keep in mind as you are house hunting.
Location, location, location: Location is the most important aspect to consider when buying a home. Is the house in a desirable neighborhood? Is it located within a good school district? Is the house near any major noisy areas like a busy street or an airport?
Keep in mind that neighborhoods that are in high demand are usually close to high job creation areas, good shopping, recreational places, green spaces, and transportation
Good home features: Keeping quality location in mind, there are still some features that make homes more valuable when it comes to resale.
Floor plan: Pay attention to how the house is laid out. Is there a weirdly shaped room? Are the bedrooms too small? Not enough bathrooms? The size, shape and square footage of the house is something buyers look at. Should the floor plan be awkward and not allow for easy maneuvering, re-selling could be a problem.
Closets: Home buyers want plenty of storage space. Both the number of closets and the size of the closets are big deal breakers.
Kitchen size: The kitchen is one of the main rooms homebuyers look at. Buy a house with a tiny kitchen, and no possibilities for expansion, and you are hurting your resale potential.
Look for investment opportunities: If the house you are looking at buying has a good basic floor plan and structure, you can look past dated designs and flaws and see potential of updates. Buying a house that needs a bit of work can be beneficial in the long run. While you live in the home, you can make the custom updates you want, and when you go to sell, those updates will add to the home value. Some quality updates to invest in are:
Remodeled kitchen: If you have a good size kitchen, one definite way to add to your home resale value is to modernize it. Replace appliances, and add new tile and countertops, and your home will look more desirable.
More open floor plan: While there are some floor plans that are obvious turn-offs, there are some floor plans that can be altered for the better. Is there a way you can knock out a dividing wall to open up the floor plan? Doing so can make potential buyers see the home in a new light.
Updated bathrooms: Much like the kitchen updates, updating the tile, countertops, and even the toilet and bathtub can give your home a small face-lift.
Enlist the help of an expert: Still confused and lost on how to find a home with a high or potentially high resale value? Seek help from an expert who has enough experience and has seen market ups and down. Call us today at 469-319-0660.
All blog information is of the opinion of the Loan Officer and is not supported by Fairway Independent Mortgage Corporation
