Things To Consider If You

Considering the resale value of a house is key no matter what you do to it

. In this article we'll explore a variety of things to consider on your home to better prepare you for reselling.

Purchasing a home is a large investment no matter what age you are. On average people own, list and sell many houses throughout their lives and the last 50 years has seen a dramatic upswing of people moving regularly. Society has changed dramatically in the last 50 years. People are working shorter time periods at a job, and this has contributed to the moving craze. Due to the frequent buying and reselling of property, it's important to consider the potential resale value of a house before the purchase.

If you're in the Real Estate Investor Deals market, consider what you are looking for and how long you'll be there. Your intentions for this new purchase and time frame of ownership can affect the value when it comes time to sell.

There are many factors to consider that will affect the potential resale value of your home.

1. LOCATION

Is this where people are wanting to live? The answer to this question is key. Are the schools top notch? Are taxes low? Is the house on a busy street? Is the crime rate low? These are just few of the questions that should be asked about a home's location.

2. DEMOGRAPHICS

A large portion of society is heading into retirement to live out their golden years. Single level houses with wide hallways and rooms large enough to accommodate wheelchairs may become more important in those areas. While suburbs filled with young families may put more emphasis on large yards and available public green spaces and playground facilities. Spend some time finding out about the population before you invest.

3. MARKET DEMANDS

If house hunting in a suburban area, a home with 3 bedrooms and 2 baths will have a much better resale. In large urban areas resale of 1 or 2 bedroom units may not be an issue, but it will be in the suburbs. By staying up to date on market demands, you'll know what to look for. Some things to keep in mind are the number of bedrooms and baths, flooring, fireplaces, kitchen appliances, cabinets and counter surfaces. Knowing the trends in a particular market will help you to make the right purchasing decision which may have quite an impact in the home's resale value down the road.

4. CONDITION OF THE HOME

Always have the home inspected by a qualified home inspector. This is no place to try to save a few dollars. Their inspection and written report may prevent you from costly repairs should you decide to purchase. You will want to know about those termites and unstable foundation before you are the proud new home owner. All aspects of the home will be inspected and any issues that arise from the inspection can be brought to the attention of the present home owner, and you can make an informed decision about whether this is the right home for you.

So, whether you're buying a house for personal use or investment purposes put some thought and research into your decision. Doing so will make the purchase process smoother and may even turn a handsome profit in the future when you decide to sell.

by: Andrew Kolodziej

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