Buying a Home with Good Resale Potential

Home Increases equity, decreases sales time You might think it's strange to consider selling a house you don't even own yet, but what if you decide to move? Do you want a house that has grown in value and sells quickly? Sure you do. Most of us won't live in the same house for the rest of our lives, so it makes sense to begin analyzing resale values from the very first day we set out to buy a home. Buying a house with good resale value might take a little longer, and it might take a bit more work on your part, but it's worth the effort. Location, Location, Location It's true, these are the three most important factors in real estate.Locations regarded as most desirable today might not keep that status forever, but they're good models. Why are those neighborhoods in demand and how long have they been top choices? Are there other areas in town that are increasing in desirability? Does new growth seem to be headed in one direction? Will there be plenty of services (groceries, shopping, schools) in that area? Is the community changing--with residential areas shifting over to commercial properties? (That can sometimes be a plus for eventual value, but a negative while you live there.) Best Tip Always choose a home that suits your needs, but if you can, find one in a location that others seem to want, too. Who's Moving In? Who are the primary buyers in your town? If it's seniors--or a crowd getting close to that age, your best resale potential might be with a one level home. Seniors don't like to do steps. If the majority of buyers in your area are young families with children, consider a house with a large yard that's not fronted by a busy street. Or a house with plenty of bedrooms and baths. Best Tip Browse your local real estate ads. A feature that's mentioned in numerous ads is likely something in demand. Avoid Outdated Features One-bath homes sell for significantly less than homes with at least two baths--and they take longer to sell. Electric baseboard heat and electric ceiling heat are not as desirable as forced air heating systems. Tubs and showers in outdated colors, or scratched from years of improper cleaning, might be hard to change without ripping out doors or walls. Acoustic ceilings (popcorn) date a house--you know--those bumpy ceilings that were so popular in the 1970's. Best Tip Outdated features are a negative--unless you turn them into a positive by buying under market value and making updates. Don't Sweat the Cosmetics   Cosmetic items aren't too much of an issue, since they're fairly easy to change. Fresh paint is a quick and relatively inexpensive fix--and sometimes makes the home look like it's had a complete overhaul. Replacing old or dated carpets is always a plus. If you know you'll sell soon, choose neutral colors. Wood and ceramic flooring is another popular option. New appliances freshen up a kitchen. So does new cabinet hardware. Adding glass doors to a few kitchen cabinets gives them a new look. Skylights and sun tunnels brighten a dark home. Be sure to buy top-quality products and install them with care. New light fixtures do wonders to lighten rooms and enhance character. New switch plates are an inexpensive way to make a room look nicer. Browse the options at your hardware store. Best Tip   Sometimes attention to cosmetics is all a home needs to make it shine. Watch for homes in need of cosmetics, because they're often priced under market value. What Are Buyers Looking For?   Closets--lots of closets, preferably walk-in, and as much additional storage space as possible. The term light and bright is a little overused, but it's an accurate description of one buyer favorite. Homes with lots of natural lighting are very popular. Split bedroom plans, with bedrooms on each end of the home, are increasingly popular with buyers. If you live in a scenic area, having a view can help you sell. Best Tip   Popular features differ from region to region, so try to determine what's hot in your town. Ask Marie which features are always in demand. Bottom Line, Your first objective is to buy a house that's right for you, but do consider its resale value before you make the final decision, especially if you know you'll move again within three to five years

Carlsbad CA