How to Positively Affect Resale Value of Your Home
My husband and I have been looking to purchase a home. It's such an exciting venture but can also be a bit daunting or even detrimental if you don't know what to look for. Thanks to co-workers at Coldwell Banker Sea Coast, family with decades of real estate experience, friends and a little research we are piecing together the best way to positively affect resale value of a home.
Photo courtesy of Noarizona.wordpress.com
There are factors that affect home value that no one can control like the fluctuation in a particular market or a crime being committed in your neighborhood. There are, however, many things you as a homebuyer can control like buying in a great location, doing thurough research of the property's history, choosing an attractive size and doing renovations in a style that will stand the test of time.
Photo courtesy of Dear Lillie Blog
Whether you are planning to purchase a home for the rest of your life or just the next few years, here are 5 great tidbits of wisdom to help you make the best decision possible!
There is no price too high for a great location: People are always going to want proximity to conveniences along with the quiet privacy a cul de sac lot provides. A great house next to a busy highway will be a lot harder to sell than a pretty good house with a wooded back yard.
If you've found a home you love, also consider the homes around it: The homes surrounding your's can either bring your home's value up or down. Be aware!
Don't be too trendy with renovations: Like the Forbes article suggests, even a fresh coat of paint can have a major effect, and it's a project that can be done very affordably.
Research not only the home's history but also the neighborhood and city: Major blemishes in the past such as termite damage, crime or major water damage can affect resale value of a home. As far as the neighborhood and city goes, look for a growing market where people are wanting to move. Even though markets will inevitably shift, it is a good idea to look into the growth potential of a city right off the bat. We have friends who purchased nice, new homes without considering the location and are now wishing they lived in a different city.
Consider your future plans: The situation you are in today is likely to be very different from where you are in a couple years. When you go to buy a home, think about not only what matters most to you right now but also what coincides with your future goals.