3 Ways to know if your Home has Resale Potential
Most people never think about selling a home before they buy it. That’s because the average home buyer will purchase based on an emotion, a memory, or even an impulse.
They can live in the house for years and be completely happy, but issues may arise when they try to sell the home down the road… And discover that others see the home’s fanciful features as a fatal flaw.
Markets are constantly changing, but it’s so important to look at these 3 ways that you can tell if a home is going to have resale potential
#1 Great Schools
A home located in a good school district rarely loses value. All parents want their children to go to the best schools. Even if you don’t have kids, buying a home in a great school district will ensure that there’s always demand for your house when you try to sell. It’s the first item on the list for out of town Buyers.
#2 Location, Location, Location
This is the number one rule of real estate. Generally speaking, most buyers want a home that is centrally located to parks, shopping, and amazing restaurants. Buyers also like views of the mountains, lakes, or city. They like cul-de-sacs, safe neighbourhoods, and considerate neighbours. If you have a choice between choosing a home that has an amazing view versus one that has all the bells and whistles but looks into your neighbour’s windows go for the View!
#3 Good Bones
The structure and flow of the home itself can have a major impact on its resale value. For example Bungalows are in high demand right now because of the number of Baby Boomers downsizing. Single-story homes tend to be more cost efficient for heating and cooling as well.
In the spring homes with a pool are more desirable than those without, families want to enjoy the sunshine over the summer. Homes that face north can command a higher value for avid gardeners – and homes that face east are preferable with people who practice Feng Shui.
Something to Think About
There are so many small nuances that have a big impact on a home’s resale value. Browsing homes online can only take you so far. This is why it’s so important to get guidance from a great real estate agent who knows what Buyer’s want.
If you’re thinking about making a move (or know someone who is), I’m here for you! Call, email or text 905-399-7229. Don’t wait until after the fact, I have many years of experience and lots of helpful advice.
And, be sure to check out my free local Facebook Group, Click here. It’s a great place to connect with other community members and get weekly updates on the best events and happenings in and around town!