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Secrets of Resale
Value
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Whether you currently own a home or
are looking to buy one, chances are you're interested in resale value.
There's always the chance that you will be selling your home in the
future, and with that in mind, it's good to know you can get good payback
for your purchase. Here are three things about house resale value that
may surprise you.
First of all, swimming pools are not worth much. Not in resale value,
anyhow, even if you did pay a lot to have one installed. There was a
time when having a pool in the backyard meant a lush and expensive home,
but nowadays they are more common than you might think. Many modern
home buyers are more interested in a backyard for the kids than they
are in having a tiled pool outside their back door. Speaking of the
kids, that's another reason the resale value of homes with pools has
gone down: With the ever-growing number of Americans with small children,
many would just as soon steer clear of a large body of water in the
yard. This is not to say that swimming pools do not have good resale
value to the right buyer. It does mean, however, that there are fewer
"right buyers" for this type of property than there once were.
The second surprise is an easy one: You can never have too many bathrooms.
Nowadays bathrooms are prime space in a home. Even installing a shower
and toilet in a corner of the basement can add remodeling potential
to your home. Ideally, every house would have a main floor bathroom,
a guest bathroom, and a bathroom off of the master bedroom. In short,
the more toilets and showers for today's family, the better your home
will fare in the market of the future.
The third and final surprise source of value is this: If your home is
the smallest in the neighborhood, it might be the best in terms of resale
value. A small, modern, nicely kept home in a neighborhood of larger
houses may fare very well. Picture it this way: Your neighborhood is
desirable, and you're lucky enough to have the most affordable house
on the block. Compared to the prices of the property around you, what
might seem like a high price for the size of your home can be considered
a very good deal.
Calculating resale value for a home that you plan to sell in the future
can be a tricky job. It's sometimes difficult to predict what will come
and go in the buying market. The best advice is to keep the basics updated
and in good shape- this means your kitchen, your roof, your yard, and
other obvious hubs of the household. When the time comes to sell your
home, be prepared to spend a little money to invest in one or two areas
that can increase your home's value considerably. It will be worth it.
About The Author:
Peter Dobler is a veteran in the IT business. His passion for experimenting
with new internet marketing strategies leads him to explore new niche
markets.
Read more about his experience with real estate; visit
http://real-estate.online-business-idea.com
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