7 Promising Signs the Home You’re Buying Will Have Good Resale Value

Published:
July 6, 2022
Last updated:
July 6, 2022
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It might seem strange to think about selling your home before you even buy it. After all, you’re looking for a place that will meet your needs, including your lifestyle and your budget. However, you should also keep resale in mind when hunting for a new home.

Consider how easy it will be to sell the home, even before you put in an offer. Will the property be easy to market and attract the masses of buyers looking for their new home? Read on to discover important factors to consider when buying a new home, with the potential of selling it in the future.

Buying a Home With Resale in Mind

When looking for a new home, you shouldn’t look for one that just meets your own needs, but also those of any future residents as well. No matter what your current intentions are, there’s always a chance that you may move at some point in the future.

Given this, buying a home to live in and buying one with eventual resale in mind can mean very different objectives when you’re house hunting. Factors that you should consider when looking for a home that you may eventually sell one day include the following:

Location

The location of a home may work for you, but how desirable will it be for future buyers? Location is the number one factor that influences the value of a home. So, be smart about the location you choose when buying a home, based both on what you like and what future buyers may be willing to spend the big bucks for.

Amenities

Look for a home that is within close proximity to basic amenities, such as grocery stores, schools, parks, and shops. These details will make your home more attractive to prospective buyers if you eventually decide to sell.

Transportation

Ideally, the house you buy should make commuting to and from home a cinch. As such, look for something that’s relatively close to public transit and major roadways, but not so close that you’re abutting them and have to deal with traffic and noise pollution.

Neighbors

Assess the neighborhood and the people who live within it. Area residents should be respectful, friendly, and take good care of their properties.

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7 Indicators of Good Resale Value

When you’re on the prowl for a new home while keeping resale value in mind, keep an eye out for the following signs that are indicative of a good find.

1. Neighborhood infrastructure

What’s currently available in and around the neighborhood? More specifically, what types of facilities, roadways, parks, and other programs are currently available in the community? This infrastructure will not only affect your quality of life, but also that of future homeowners.

You’ll also want to find out if there are any future projects being planned that could alter the neighborhood, such as new roadways or hydro towers. Further, find out if there are any zoning changes in the works, which could mean commercial or industrial structures may eventually be constructed close to your home in the future and will significantly impact the overall area.

2. Neighborhood vibe

When visiting homes for sale in a particular neighborhood, consider visiting at different times of the day or week. While daylight hours may seem quiet when everyone is at work or school, things may be very different at night or on weekends.

Pay particular attention to noise levels, whether coming from neighbors, nearby sports fields, and other venues within close proximity. Also make a note of traffic, both vehicular, bike, and foot.

3. House integrity

Before buying a home, find out the age of its major systems and components, such as the roof, HVAC system, or electrical wiring. While these systems may be in good shape today, they may be due for replacement at some point in the future, which will cost a bundle.

Either you’ll have to pick up the tab yourself, or the next homeowners will, in which case you’ll have to factor that into the listing price.

4. Schools

If you’ve got kids, you’ll want to scope out the schools in the area to make sure they’re easy to get to and have a decent rating. That said, even if you don’t have children, you’ll still want to see what the local schools are like. Perhaps the next homeowners will have children of their own, who will certainly be interested in school availability.

Keep in mind that the school closest to your home is not necessarily the one your kids would go to. As such, be sure to verify which school district the home is in before you buy.

5. Floor plan

Choose a home with a floor plan that suits your lifestyle, but also one that may be desirable to most homebuyers. For instance, open concept kitchen/living areas tend to be more attractive, both to those with families or child-free buyers alike.

This open floor plan allows parents to keep an eye on their kids from wherever they are, while being more conducive to entertaining for those who like to have guests over.

6. HOA reputation and fees

A home that’s located in an HOA has the benefit of increased accessibility to convenient amenities, security, and regular maintenance. HOA’s that are well-run will also ensure that properties are kept in good condition, which will help keep property values up.

However, some HOA’s may not operate up to par. Look into the reputation of the HOA and how well it runs the complex.

You’ll also want to find out how much the HOA fees are, which will have a direct impact on whether or not a home’s cost fits well within your budget.

7. Landscaping

Take a look at the bushes, trees, and grass on the lot. Are there out-of-control weeds? Are there any signs of hole-digging rodents that could sabotage your landscaping? What about large trees that are growing too close to the home with roots that may be pushing into the home’s foundation? All of these issues can be very costly and a major hassle to contend with.

5 Things to Consider if You Plan on Selling Your Home

If you’re buying with the intention of selling in the near future, consider the following factors:

1. Only do renovations that add value

Certain upgrades add more value per dollar spent than others, so be sure to focus on the ones that bring in the highest ROI. For instance, moderate kitchen and bathroom updates, front door replacements, new granite counters, and new hardwood flooring are attractive features for buyers.

Tackling these types of projects without going overboard in renovation costs can add value to the home, which means you can sell for more and attract more buyers.

2. Keep things neutral

You might have an affinity for canary yellow or lime green paint on your walls, but most others probably don’t. When it comes to resale, keep things as neutral as possible with paint colors.

3. Think twice before letting animals live in the home

Pets are great, but they can also be destructive, depending on the animal. Not only do pets tend to chew on baseboards and scratch floors, they also leave a distinctive scent behind. Keep this in mind if you decide to bring a furry friend into your home.

4. Only smoke outside

If you’re a smoker, take your habit outdoors. Even worse than pet odor is the smell of smoke, which can be embedded in the floors, walls, window treatments, and other materials in your home that can be very difficult to get out.

5. Don’t get a mortgage that takes too long to break even on discount points

If you decide to “buy down” your interest rate by purchasing discount points, make sure you crunch the numbers to find out how long it will take before you break even, which could take years.

If you plan to sell the home before this break-even point, you might want to revamp your mortgage accordingly so it makes financial sense for you.

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Why Choose Sammamish Mortgage?

At Sammamish Mortgage, we can help you get fully preapproved for a mortgage, and shepherd you through the homebuying process all the way to your closing date.

Sammamish Mortgage has been in business since 1992, and has assisted many homebuyers in the Pacific Northwest. If you are looking for mortgage financing in Washington State, we can help you get pre approved. Sammamish Mortgage offers mortgage programs in Colorado, Idaho, Oregon, and Washington.

Contact a loan officer if you have any mortgage-related questions or concerns. If you are ready to move forward, you can view rates, obtain a customized instant rate quote, or apply instantly directly from our website.

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