When you are comparing various homes for sale, there are many different things to consider. However, one of the most important factors is the home’s resell value. In order to determine whether the home you are considering will have a high resell value, ask yourself the following questions.
1. Is the home in a good location?
One of the most important factors affecting resell is the location of the home. Homes located in good communities close to lots of amenities will have the highest resell value.
It is also important to consider the home’s location within its neighborhood, as homes at the end of cul-de-sacs and/or on quiet streets tend to sell better.
2. Is the home family-friendly?
A family-friendly floor plan dramatically increases the pool of possible buyers. Family-friendly floor plans tend to have open concept kitchens, multiple bedrooms and multiple bathrooms with at least one tub.
3. How are the schools?
Families with school-age children will not want to purchase a home if the schools in the area aren’t up to par. The homes with the best resell value are those located in reputable school districts.
4. Is there reason to believe home values in the area will increase?
Home values in a given area may be increasing, decreasing or stable. If you want to raise the chances of finding a home with a high resell value, look for homes in areas where property values have been increasing and/or are expected to increase in the future.
High resell values are never guaranteed but considering the questions above can help you protect your investment. It is also a good idea to talk to your real estate agent about a home’s expected resell value before you make an offer.