While many first-time home buyers believe that they will never have a reason to sell their properties, time and circumstances do change. Even if you don’t intend to resell your property at any time in the foresee-able future, it is important to consider the resale value when buying a home, that way if you do decide to resell, you can get the best possible price. Here’s how you can spot a property that offers excellent resale value:
Think about the Location
When a home is chosen in a desirable location, there is a good chance that the location will remain popular. These types of places always draw in a larger selection of buyers. Even if you purchase an expensive home in a poor location, it is very unlikely you’ll be able to sell it profitably in the future as the selection of available buyers will always be small. Look for homes in quiet neighborhoods that are close to schools, shopping centers and parks, and have low crime rates.
Avoid Houses that Only Have Two Bedrooms
A home which has good resale value will almost always have more than two bedrooms. The reason is simply because many couples desire an office and or guest bedroom, and a house with only two bedrooms is too limited for their needs. Look for houses that have a minimum of three bedrooms as these provide sufficient space for a family.
Don’t Go for a One-Story House in a Mixed Neighborhood
Although many buyers these days prefer a home with one level, it will be in your disadvantage to go for a one-story home located in a neighborhood that has a mix of one and two-story houses. This should be avoided as the resale value will be poor when potential buyers make space considerations.
Seek a House with Multiple Bathrooms
A home that has more than one bathroom will almost always have a better resale value than a home with a single bathroom, for obvious reasons. Multiple bathrooms offer greater convenience and privacy, and while buyers will purchase a home that has a single bathroom, they will expect a much lower price tag.
Check Out Properties that Have Ample Family Space
Family space is defined as a large, informal room that can be used for the entertainment of guests, or where a group can congregate. Formal parlors and living rooms are no longer as popular as they used to be, and each area of a home is expected to be used for a specific purpose.
Buy a House with a Garage
Unless you plan to purchase a home in an urban location where most people rely on public transport, it is best to purchase a home with a garage. Not only does a garage give you a place to park your car, but if large enough, it can be used for extra storage as well as a place where you can use to pursue your other hobbies such as woodworking.