Judging The Resale Potential Of Your Home

When looking for a new home, it’s hard to think about selling your old residence. Ideally, you want to live in your new home for quite a while. But based on figures, most people buy and sell their homes in a span of seven years. You need to keep in mind your new house’s potential resale price when looking for a new place to live.

The average homeowner purchases a total of seven homes from adulthood to old age. The average person purchasing a home keeps his or her present situation in mind, and would want a home with the right number of bedrooms and bathrooms in a good neighborhood and school district. Homeowners’ needs do change, though, in the long-term. New homeowners are prone to buy houses that build momentum for the next home purchase. Then they would up the ante and move to a larger and better home.

If you are buying a home with the intent of eventually moving into another, consider these two factors very carefully – choose a home that can help you build enough equity, and choose a home that has a great potential for a high resale value.

The resale value of a house can be determined through several considerations. The first factor would be the house’s location. Be aware of the trends in the housing industry, as this can help you find out which housing areas are becoming more in demand for potential buyers. If a neighborhood has plans to improve its surroundings and amenities, or if the real estate market is quite active, you’ll need to be wary of this as well.

What type of buyers are in your desired area? You’ll need to know the age, background and usual occupation of prospective buyers. If you’re a family person with children going to school, you’d like a neighborhood with excellent school access, not a downtown location.

If you need to make changes to the property, this will be your final consideration. Wise buyers who want to build equity would often go with “fixer upper homes” which they can easily renovate. Changing some things in your new home can make a big difference in the long run, but make sure not to implement or even think of changes that are outside of your budget or capabilities.

It’s easy to find a nice home to live in, but it takes patience to find the perfect home among all the other options.

Author bio: Debra Hoffmann writes as a hobby and maintains websites featuring dana perfume and kenzo perfume.

Leave a Reply