Getting the home that promises profit on resale

One of the things that you need to consider during the home buying process is the property’s resale value. Homes that have a good resale value promise better returns on what you originally bought them for.

When looking at potential homes to purchase, here’s what you have to evaluate:

1. Location
   Your home’s location makes a huge difference when it comes to resale value. Homes in areas that have great employment opportunities, shopping and entertainment centers, and good schools definitely have an edge over other locations. The property’s proximity to highways, major roads, and public transport matters as well.

   Homes that come with great views also tend to sell for more as compared to properties that face strip malls. If you live near a development project, the resale value of your home may go either way – drop due to perceived disadvantages such as increased vehicular traffic, or surge because of your proximity to an amenity. Always remember that you can change a home but not its location.

2. Usable space
   Buying the largest home doesn’t necessarily mean its value will appreciate when you decide to sell. Instead, look at a home’s usable living spaces such as the number of bedrooms and bathrooms since buyers are most interested in these features. Parts of the home that are below ground level such as attics, garages, and unfinished basements are not considered usable square footage
3. Interior
   The home’s layout also plays a huge role in its resale value. It’s easy to decorate the inside of a home and make it look its best for potential buyers. However, poor layout and functionality are hard to hide no matter how pretty the home looks.

   That’s why it’s best to look for a home that’s functional for you. If you like to cook or bake, look for a home with a kitchen you’d like to hang in. For a feeling of spaciousness, a home with an open floor plan will fit the bill. Open floor plans, in particular, usually have a higher resale value due to their functionality and popularity.

4. Exterior
   Good curb appeal is essential when it comes to selling a home. A house exterior that looks well maintained and a front yard that’s been spruced up create a great first impression on potential buyers. If the roof sags and the garden is unkempt, think of the time and money you’ll spend improving these features.
5. Age and condition
   Assessing the home’s age and condition can tell you a lot about its potential resale value. Newly built homes, for example, are worth more because it has none of the wear and tear that comes with a previously owned home.

   The best way to learn about a home’s condition? Hire a certified home inspector. An inspection will reveal hidden problems such as foundation issues, water damage, or electrical problems that affect the value of the home.

6. Neighborhood
   Buying into the right neighborhood also has an impact on the home’s resale value. A busy or growing neighborhood will have higher home values in the future. Neighborhoods that have a Homeowners Association (HOA) and community amenities can increase property values as well.

When it comes to buying real estate for sale in Merced, CA, it’s always best to work with an experienced real estate team like Soldavi Realty. Get in touch with us today by calling 209.383.3000 or sending an email to a(dotted)diaz(at)soldavi(dotted)com.