Buying a home is no easy feat. This is probably one of the biggest investments you will ever make and when the time comes when you need to resell, it’s important to make sure it has the highest resale value possible.
The resale value of a home is an estimate of how much it will sell for once it hits the market. That amount is affected by many things, some of which you can’t control.
However, here are some factors that may suggest the property has a good value:
It Has Good Curb Appeal
First impressions are always important when putting a home up for sale. You want potential buyers to step in and just get wowed by how your house looks from the outside and the inside as well. After all, buyers always inspect a property before they buy.
If you can make it stand out from afar, then you are likely to get more interest and this will eventually lead to a better deal when you finally sell. Creating the right curb appeal doesn’t require a lot of investment either:
Neatly trimmed trees and hedges
A well-kept lawn
Freshly painted walls and shutters
These things can go a long way in giving your property the appeal it needs to attract buyers.
It’s in Line with Neighborhood Prices
Most homes in a single neighborhood will more likely sell at a similar price range. If your home is way above the average cost in the neighborhood, then most buyers will turn away since they have way better options.
It is, in fact, better to have a cheaper house surrounded by other more expensive properties than having the most expensive unit. This will boost its resale value significantly.
Surrounding Schools Are Good
Most people who start shopping for homes either have families or intend to start them once they are settled in their new house.
They will be looking at many things when house hunting and one of them is schools. Homes that are surrounded by quality top-performing schools are more likely to sell for a higher price. This is because such properties will always be in demand from the average home buyer out there.
It’s Located in a Safe Neighborhood
Before anyone starts looking for a home, they will ask one simple question. Is it in a safe neighborhood? Like it or not, security is the number one priority for any homeowner and most people would gladly pay extra for a home in a safe neighborhood without a second thought.
So, what are the crime rates in your town? How do they compare with other neighboring areas? Safer neighborhoods will fetch higher home prices anytime.
If your home is closer to social amenities then it will attract more buyers and better offers. People want to live close to shopping centers or recreational and dining areas. These are all essential elements of modern life and it will be a huge factor when making the decision on which property to buy.
Good Number of Bedrooms
As we have already noted above, people searching for homes often have families or have plans to start one. So, in most cases, a single bedroom house won’t cut it.
A rule of thumb is to actually buy a home with at least three bedrooms. But the more bedrooms you can offer the better. Homes with more than three bedrooms are definitely going to have more value.
It’s in Excellent Condition
Keeping your home in good condition is a huge factor in accelerating its value. Doing regular renovations and repairs may cost some money, but in the long run, it will all be recouped once the property sells.
Offers Enough Storage
Homes that have loads of storage are very popular with buyers. Homes with more than one spacious garage, for example, are more likely to fetch more money in a sale compared to those that have one single garage.
Any other storage areas including a basement can also be a huge factor.
Request a free quote for a house inspection today to make sure your house is in tip top shape!