When looking for a new home, many homebuyers make the mistake of focusing only on whether the home fulfills their needs and preferences. They tend to overlook one of the most important factors: its resale value.
Preparing for a potential home sale should begin the moment you buy a new home. Here are some tips on how to find a home with good resale value:
Location, location, location
A home in a desirable location often has a good chance of attracting a large amount of potential home buyers. Alternatively, if it’s situated in a location that’s considered subpar, it’s likely that the home’s future sales price will be less compared to other homes in neighboring areas, in addition to attracting a smaller pool of buyers.
When choosing a location, keep in mind that you can’t exactly anticipate changes that may affect its value. For example, a quiet neighborhood may not be that peaceful after a major thoroughfare a block away is completed after several years. Be sure to check the city records for future developments – you might not predict changes, but you can educate yourself on ongoing projects that might affect a home’s value.
Choose a home with systems that are in excellent shape
Even if the home is located in a red hot market, you still need to factor in how much you might spend once you’re living there. If most of its vital components are in poor condition, you’ll be setting yourself up for a very expensive stay.
While you can get a detailed report of a home’s condition through a professional inspector, make sure to keep a close eye on its foundation, roof, HVAC system, water heater, windows, and plumbing and electrical systems. A problem with any one of these can lead to costly repairs that could negatively impact a home’s resale value.
Find info on the school district
Even if you don’t currently have children, it’s a smart idea to factor in the school district before you make an offer. For resale purposes, you need to find a home located in a good school zone.
Remember to determine where the home is placed in relation to the school district’s boundaries. This is an important step, as there are lots of cases wherein a home is advertised as being close to a particular school district, even though it’s actually within the boundaries of another school zone.
Make sure its floor plan is family-friendly
If you’re planning to sell a home for a profit in the near future, you’ll need to make sure it’s family friendly.
Find a home with a floor plan that will appeal to most families. This usually means having at least three to four bedrooms on one level, large living spaces, and an open concept kitchen. It should also have about two to three bathrooms in order to accommodate the early morning rush.
Find a home with good resale value in Houston, TX today by giving the Hunter Real Estate Group a call. You can contact us through (713) 572-0824 or email us at trace(at)hunterrealestategroup(dotted)com
