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Areas That could Impact the Resale Value of Your House

If you are about to buy a house with a view of resale or invest on it, you are essentially consider some things in the home. Those will greatly effect on your house resale value. The following will help you to get the good ROI (Return On Investment).

  • Lot and Landscaping: Even most of the real estate value is normally concentrated in building, the lot is also important. Assuming property is in a typical neighborhood, lot should be rectangular, no oddly situated lots or odd shaped lots. Yard sizes are smaller in the modern homes than in the older homes, but still there should be a decently sized back and front yard. Do not buy house where entire back yard is taken up by swimming pool, for instance. You would usually pay premium for over landscaped, which may not be able to recover when you sell, better to do not purchase.
  • Size of the house: Houses will vary in rooms and size in each residential neighborhood, but should not be too different. You should not purchase the largest model in neighborhood in case of resale value is important consideration. The homes nearest to yours are the most important when determining market value. If most of the nearby houses are smaller than yours, they can act as drag on appreciation. If you buy medium or small house compare to neighborhood, the larger homes can help to pull up your value.
  • Bathrooms and Bedrooms: Three and four bedroom houses are most popular among home buyers. If you can stick in this range, you will get more potential home buyers when it comes time to resell your house. As long as you do not have to pay much extra for additional bedroom, five is also okay. There should be always at least two bathrooms in the house preferably two and half. One bathroom with a place to wash up for the day to day visitors, one for master bedroom, and at least one to be shared by other bedrooms.
  • Laundry, Garages and Closets: Walk in closets are extremely desirable for master bedroom, and rest of the house just be sure there is sufficient closet space. Do not forget space for linens and towels. Garages add extra to the resale value and make sure to get at least two car garage. The laundry facilities should be located at the convenient on the main floor of the home, but not in the place that it will create an eyesore.

Homes with pleasant view of horizon often sell at above premium similar homes without the view. However, if view is important to you, buy that home mostly for your own pleasure but not as an resale. Though you may place considerable value on view, future home buyers may not be with like minded. When it comes time to resell the house to find a buyer may take longer time. Or you may end up decreasing your house price to more nearly match neighborhood sales prices.

Updated: February 6, 2014 — 7:29 am

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