There are so many things that should be considered when buying a house. Since most home buyers expect to purchase a better and bigger home someday in the future. So resale value is an important factor in the buyer’s decision making. You use the proceeds from selling one house to buy the next home. While no one can guarantee that the house will grow in value, there are steps you can take that to maximize your potential gain.
- Location: “Location, location, location” is almost hackneyed phrase and is a most common in real estate literature. The real estate agents may also throw at you when ask for advice. Location is extremely important to the resale value of the home. The idea to buy a home that will appeal to the largest number of potential home buyers in future. A good choice of location can maximize positive influences, and minimize the potential negative influences on the future resale value.
- Local community, town or city: You need to choose what communities or cities you and your family members would like to live in before you can actually pick out a home. There are many factors you need to pay attention, it is not only for yourself, because you intend to eventually sell the house to someone else. Carefully choosing of your community is the first step that can help to maximize your future potential resale value.
- Economic stability: When choosing a community for your home purchase, a city with a stable and viable economy will makes the most sense to purchase. Five years, a decade or even more from now till you want to sell your home, you can keep a reasonable expectation that the community will still in demand to live. Make sure in addition to residential neighborhoods, a healthy mixture of business and commercial districts. These will provide jobs to local residents, add an income source and the city can maintain and upgrade services and roads.
- Local government: Check the services that provided by the local government those like library branches, books stock and the recent best selling books. Look into the local crime statistics and compare the city with the national average and other nearby and similar local communities. See the responsive and effective to community needs by the police force. Also see for the fire stations to arrive quickly when any emergency.
- Schools: Even you do not intend to have children or not have school age children, you should pay attention to the local school system. This is because when you sell the property or house, most of the potential buyers will have these concerns.
The property taxes also effect on home buyers. Property taxes may be higher in a town than another nearby city, and where the taxes are higher cost per square foot of home is lower. Buyer get at lower price, but need to bare higher taxes. So consider also property taxes while you planning to invest with a view of resale.