When hunting for your dream home, there are many considerations that require a fair amount of attention and energy. Most of them involve your personal preferences- looking for exactly what you want. But, don't get caught up entirely in the relationship between you and your home. Within your decision making process, you should leave ample room for some necessary foresight. Attend to the relationship between your prospective home and future buyers. A solid purchase and investment involves the careful assessment of a property's re-sale value. As a buyer, you want to feel confident that you love the house you are moving into, and also, that in a year or in twenty, others will love it as well.
Of course you can't please everybody- that is, it is highly unlikely that you will find a home that is your dream, and that is also everybody else's. Dream's are personal. But, there are certain staple ingredients that seem to be part of many people's dream homes. When looking for a home that has good re-sale value, hunt for these key components, or at least some of them:
- a large, well sculpted, landscaped lot.
- a stunning view in a house that takes advantage of this view ( large windows)
- architecture that is spacious
- an abundance of natural light throughout the home
- three or more bedrooms and two or more bathrooms
- a size able, updated and well designed kitchen
- a double, covered garage
- ample closet and laundry space
- a fireplace
- a deck, or patio
What also has to be accounted for in the re-sale value of a home, is the particular audience it will target. Are you looking at a suburban home? If so, you need to consider the elements that will target a suburban market of buyers. These elements are essentially included in the list above. But, if you are looking for a city home, your key re-sale elements may differ slightly. Sometimes a suite-able or already suited area in the house can be a great re-sale element, especially in a city where the rental market has a history of being saturated. Character, can be another draw in many city's historic downtowns. Updates or renovations in an older home that are in keeping with the home's historic integrity, can be very appealing to buyers looking in this niche market.
Another important factor in investing in a home is to realize its re-sale potential. Every home a perspective buyer looks at may not have the exact features necessary to guarantee high resale value, but often many elements can be added in after the home is purchased. Remodeling and refurbishment costs can pay for themselves twice or three times over when it comes to selling a house. This being said, before diving into the idea of bringing your prospective home "up to re-sale snuff", it is imperative you draw up a budget first. Consider the price you are paying for the home and the estimated costs of projects you intend to do. Estimate whether it is likely you will re-coup these investments in the future sale of your home.
Of course, your first objective is to buy a home that's right for you. But the wise consideration of its resale value now, could give you extra funds to move up with , the next time you buy a home.
