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Buying a Home for its Resale Value

When selling, you want to prepare your home to maximize the resale value; but, what about when you're ready to purchase?

There are some very basic tenets when it comes to buying a home. You want to get the best value for the money and you want it to be a good investment. There are never guarantees, but many individuals are also planning ahead - far beyond the purchase and well into the next sale.

You may fall in love with a home immediately - one glance and you must have it. Or, you've looked for months and nothing strikes your fancy. Either scenario can cause a lapse in judgment. When you're ready to purchase a home, always keep in mind that sooner or later, you may also want to sell it. That's where you must approach buying from an entirely different angle.

Not all rules apply. While most agents will stress the over-used mantra of location, they may also encourage you to purchase the least expensive home in a better neighborhood. This may not hold much appeal for the next buyer and may leave you sitting on a home when you're ready for an upgrade.

When scouting a neighborhood, drive through at several different times of the day. How does it look at night and in the early mornings. How about on a Saturday. Are dogs running wildly through the streets; see any roaming cats? Check out the neighbors - and branch out for several blocks. Are yards kept up? A single junker or messy yard will immensely affect your new home's re-sale value somewhere down the road.

Sometimes, upscale pockets develop surrounded by less than desirable neighborhoods. Be leery of these and think about the next person who may not want to risk the drive to get home, especially after dark.

That brings up another point. The location of a home is important after dark. Will headlights be shining through the front windows every time a car passes by? Just how much traffic can you expect to hear in the early morning hours? These are valid drawbacks to reselling a home to a savvy buyer.

Found out where the closest amenities are located, including grocery, dry cleaners, and home improvement stores. School locations will, of course, be important to families.

Your home's interior should also be forward-designed. You may think nothing of having only a bath-and-a-half, but if the home is older with four bedrooms, you can count on a larger family needing more. You can always fix the small problems, but basic design is a different matter. Adequate closet and laundry space is also critical, as well as the garage. Storage is another buying/selling point.

Finally, here's an important reason to use a real estate agent. He or she should be knowledgeable in the area, such as what is planned for future growth. Remember, they should be on your side and if the neighborhood is just not up to par for the future, they should be honest about it.

 

 

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