Buying a Home, Selling a Home

Posted by Elizabeth on August 19, 2011

If you’re a “planner” then you’ve probably already decided how many homes you will own, where they will be located and how much time you will spend in each one. That also means you probably know that the best time to think about selling a home is before you ever buy it. If you plan on moving sooner or later, it’s important to look at a home’s flaws that will impact its resale value down the road. No one wants to look for the bad, but it’s an important action to take when we are talking resale. Look at any potential home flaws through the eyes of your future homebuyer: will you be more likely to sell your home at that time because you were prepared?

Possibly.

The number one limiting factor on a home is location because it can’t be changed—obviously. However, it’s vital to make the proper decision on where you want to live before you buy.  Along those same lines neighborhood deterioration plays a large part in resale opportunities. It’s easy to get a “deal” or “steal” on a home because the neighborhood is less than picture perfect, but just because you are willing to take a chance owning a home in that neighborhood doesn’t mean other buyers might be willing to do the same.

Other factors that commonly lower a home’s resale value include: traffic, noise, inaccessibility and local or cultural factors. It’s important that you ask your agent about the area and housing market in the area you are looking in. If the home you are eying has been on the market awhile, ask why. We aren’t suggesting that you walk away from a house that you might love because it has one or two problems; just be aware of them before you buy!