Buying a Home with Built-In Resale Value
Whether looking at Chevy Chase real estate or homes in Warner Robins, you want to be sure to set yourself up for the best opportunity to recoup all of your money or to even profit from your purchase. To make this happen, you will want to purchase a home with the best built-in resale value possible.
Location, Location, Location
It is no secret that one of the top rules of real estate is “Location, Location, Location.” By choosing a home that is in the right location, you will increase your chances of enjoying a high resale value if that day ever comes. If you are like most people, the things that will attract you to a certain community include the types of services and programs the community has to offer, the proximity of employment opportunities and the quality of the schools. All of these are factors that need to be considered when choosing a home in the best location.
Other things to consider include the economic stability of the community, the unemployment rate and crime statistics. The stronger the community’s economy, the more likely it is to continue to offer the same level of services well into the future when it is time for you sell your home.
Making a House a Home
According to Kevin Koitz who specializes in Bethesda homes for sale as a real estate agent with the Koitz Group in Maryland, “It is in your best interest to look for a home that does not have significant restrictions in terms of adding on or making renovations.” Again, unless this is normal for that particular neighborhood, potential buyers may lose interest once they find they cannot expand upon the home to meet their future needs.
2 Response Comments
Great blog! You hit important key factors here that potential investors should know. Real estate markets are considered as one of the best investment because it is slow to react to changes in the economy meaning you are not going to lose 50, 90 or 100% of the value of your investment overnight that is why it is no wonder why more and more people are buying a house and turning it into their own personal business.
With the prices of real estate where they are today you can buy a house in a great location for reasonable. This provides even more potential for rising in value when the market finally does decide to turn around. I think the next few years should be fun once we get out of this housing funk. Great article.