7 Promising Signs the Home You’re Buying Will Have Good Resale Value

It’s important to keep in mind that a house is an investment, even though it might seem silly to think about selling a home before you’ve even bought it. And in the perfect world, investments increase rather than decrease one’s wealth.

When looking for a new home, you should make sure to give careful attention to the home’s potential resale value. No, it shouldn’t take precedence over your absolutely necessary requirements (if you demand 20 acres and lakefront access, priorities that). But if you try to predict how the house you’re buying — and the neighborhoods it’s in — will appeal to future buyers, then future you will be a great deal happier. This is because you will have done your best to anticipate how future buyers will view the property. And maybe even more prosperous.

According to Kukwa, “it is nearly impossible to guarantee that a home will retain its full resale value because the local market and economic factors have a significant effect on the housing market.

In a nutshell, resale value is completely up in the air if the economy continues to deteriorate. However, there are a few signs that you should keep an eye out for that could determine whether you just barely make it or whether you come out on top. When you start your search for a new home, keep an eye out for the following encouraging signs that indicate your purchase will be a good investment.

1. A sign of high potential resale value: the busyness of the neighborhoods…

When looking for a new home, it’s important to be aware of your surroundings. Can you get around on foot in the neighborhoods? Or is it that going to the grocery store takes so much effort that you need to bring snacks with you? In the meantime, are there any restaurants in the area that you could go to on the nights when you simply can’t?

Even if there are plans in the works to develop the land, you shouldn’t count on that to prop up property values because construction could come to a halt or be completely scrapped. When estimating the value of your home in the future, you should concentrate on its current state.

2. A marker of good resale value: the street in and of itself is quite quiet

Contradictions abound in the process of purchasing a home: You want a beautiful kitchen, but you also want convenient delivery alternatives. You need a house with five bedrooms and a respectable hotel in the neighborhoods because your mother-in-law will not be staying with you under any circumstances. You want activity to be taking place everywhere, but not in your backyard.

According to Vosburgh, “We encourage clients not to buy on a busy street or purchase a home that is surrounded by commercial properties in the neighbourhood.

Not to say that there aren’t buyers who enjoy living in the thick of things; in fact, it’s possible that you fall into this category. But before you buy the cottage next to your favourite watering hole, you should think about the fact that other buyers may not be as enthusiastic about the location.

3. The home’s systems are in good order, which is a positive sign for the property’s resale value

Return on investment, or ROI, is something that many people think of as the total of a simple calculation: Will the home sell for more than you bought for it?

However, there is a bit more nuance to it than that. Even if the housing market explodes, you still need to consider how much money you’ll need to put into maintaining the property while you’re living in it. And if the essential parts of the house are coming apart, you can count on paying a lot of money.

You should keep a close check on the roof, water heater, HVAC system, windows, and foundation of your future home, even though your inspector will give you an overview of the condition of the property’s overall health. Additionally, pay attention to the electrical and plumbing systems. A malfunction with any one of these significant systems may necessitate an expensive repair, which may, in turn, reduce your monthly income.

4. A strong indicator of a home’s resale value is the quality of the local schools.

If you do not have any children, this one may appear to be completely unimportant to you. A word of caution, however: before you buy a home, it is important to consider the local school system, especially if you have any hopes of ever selling the property.

Just make sure to do your research and discover where the home stands in regard to the school district limits.

According to Tina Maraj, a real estate agent working for Re/Max North Orange County in Fullerton, California, “Oftentimes, agents will advertise a house as being in such-and-such school area, but they will not always identify the district,” which can lead to a great deal of confusion. It may be a big wake-up call if a buyer closes and they’re on one side of a main thoroughfare that is the dividing line between the highest-rated and the lowest-rated high schools,” said one real estate agent.

5. A sign of high potential resale value: the light is uplifting

She continues by saying that when there is beautiful light, “there is always a wonderful emotion—a feeling of being embraced and belonging.” “When [a home] is dark, it does not seem inviting, it takes a much longer time to sell, and the price reflects the lack of light,” said the agent. “This is true regardless of how wonderful and modern the home is.”

Visit the property at different times of the day to get a feel for how the light changes the atmosphere of the room, regardless of whether you’re looking to buy a house, condo, or apartment.

6. A family-friendly floor plan is a good sign for the property’s resale value.

Again? the reader who does not have children asks. Should families have complete control over all of my housing choices? No. However, if you want to make a profit on the sale of that home in the future, you should keep the needs of children in mind when making renovations.

According to real estate broker Kris Lindahl, one should “look for a property with a floor layout that will appeal to families.” This means that there should be at least three, and preferably four, bedrooms on the same floor, a kitchen with an open concept, and at least one bathtub.

Also, make sure you pay attention to how many bathrooms there are. According to Lindahl, you want to have “enough to avoid fights in the morning.”

According to Kukwa, purchasing a home that is excessively quirky or has very untraditional features can result in a poorer return on investment (ROI) as well as a narrower pool of potential buyers in the future.

7. A predictor of good resale value: the neighborhood is rather restrictive

The bothersome limitations, the boring meetings, and the monthly dues that you aren’t always sure you can account for may all be a pain in the butt. Homeowners associations can be a pain in the butt.

However, a homeowner’s association (HOA) might really be beneficial, at least in terms of the property’s resale price. Because HOAs typically keep everyone in line, they prevent your neighbors from doing things that could lower the value of your home, such as letting weeds take over their lawn, painting their houses bright pink, or permanently parking an RV in the middle of your street. These are all things that could make your home less desirable to potential buyers.

Buying a house that is governed by a HOA isn’t right for everyone that much is obvious. However, if you are extremely concerned about the resale value of your new property, covenants and restrictions may be able to save you a lot of money.