5 resale value factors to check when buying a house

5 resale value factors to check when buying a house

Buying a house for resale value

When you’re buying a house, your main concern is likely how it fits your family lifestyle. For most, the last thing on their mind is whether it’s a good resale value. 

This could make it difficult for you down the line should your family outgrow the home you’re buying or otherwise need to move. 

If you consider the following factors when you’re shopping for your next house, you’ll be able to avoid that problem. Even if you decide to stay, you’ll at least be building more equity in your home. 

Location is the top factor for a home’s resale value

Take a look around the neighborhood your potential new home is in. 

Is it in a convenient location? Do all the other homes look nice? 

There’s a reason the old saying, “Location, location, location,” exists and it’s because location is an enormous factor on a home’s value. 

Make sure you choose an attractive location for not just yourself, but one that is also a no-brainer for anyone else. 

Make certain there are no serious conditions on the lot

Sometimes there are conditions attached to the lot a home sits on that sellers are supposed to disclose to the buyer, but sometimes they’re hidden in the paperwork.

For example, something that you might find at homes for sale in Bolivar, MO or the outlying areas are creeks or other streams that might flood during heavy rains. 

The property may also have an easement attached to it. An easement grants another person or entity the right to use land within the agreed upon terms. 

There could be a number of things within the conditions, so just be sure to ask your real estate agent to be thorough and ask the seller’s agent.

If you are considering how it affects the resale value just remember: You might be OK dealing with it, but will it cause a lot of future buyers to walk away?

At least 3 bedrooms is the sweet spot for resale value

Obviously, your ideal situation for a new home is enough bedrooms for every person in your family to have their own. 

However, if you’re a smaller family and only need two, you might try to get at least three bedrooms.

This isn’t nearly as important as location, but it might open up a larger market to you when you go to sell your home. 

According to a study by the National Association of Realtors, three bedrooms and two bathrooms is the most popular floor plan for a home because it appeals to the largest segment of the market: families with one or two children living at home.

Just don’t overextend yourself to make this work.

Large living space

Check out how big the living room is in a home you’re looking to buy. 

Right now, it seems people want more room for their family to enjoy and to have company over. 

In fact, a recent study says adding living space offers the fifth-best return on investment of any renovation project. 

So, just make sure yours is a decent size to begin with.

Go for a garage

If there’s ample parking in the driveway or street, this isn’t a must-have but having a garage does appeal to a larger market. In fact, some homebuyers will completely disregard a home without one.

A garage offers safer parking and keeps your vehicle out of the elements.

For the pack rats, it’s also another storage area. 

Homes for sale in Bolivar, MO with good resale value

If you’re looking for a home with good resale value in Bolivar, Partin Real Estate can help!

All you have to do is advise your agent that you want to keep resale value in mind when shopping for a home and we can do all the evaluating for you. 

Just fill out the form below or give us a call at 417-326-4270 to get started!

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