Buyers Guide: Don't Forget Future Value

Don’t Forget About Resale Value

If you are shopping for a home there is an important tip to at least keep in the back of your mind when shopping. Remember that you will most likely need to sell that home one day. It may not be soon and way down the line, but the prospect of it still exists. Don’t forget this tip because one it could end up causing you stress and even cost you money.

Understandably you are focused on the here and now. We key in on the immediate needs and priorities of a home for us, which is fine. But if you can still keep an eye to the future just a bit you can avoid unwanted issues later. When it comes to selling a home, how do we get the most money and get it done quickly ? By appealing to the most people possible, creating the biggest pool of potential buyers. What you think today is just the uniqueness or charm of the home, may make your life difficult when it is time to sell.

Here are some issues you may want to consider and think about when it comes to buying your home today and the resale value of your home tomorrow. All these things can make that eventual resale potentially high stress. Is the home located in a busy street or intersection that has high traffic volumes? Does it lack things like outdoor space, the necessary amount of bedrooms or bathrooms, or ceiling height? What about parking issues, is there adequate lighting, or maybe the lot size is small or oddly shaped. What is the history of the property? Does it have a poor maintenance history or high fees ? These are all questions and issues you should consider and at least think about having to deal with one day.

It’s not lost on us that in this market you may need to look past some of these certain issues or you run the risk of losing out on potential homes. But if you do think you want to move forward with a home, here is an extra tip. Focus on the issues that you can fix, not all can be. If there are certain things that can be renovated or upgraded, you have the chance to build extra value in that home. Maybe you can add an additional bedroom in a basement or increase the driveway size to address parking. These things can add value to the home. However, things like lighting and traffic are beyond your control and may only serve as a detriment to future buyers.

It is a balancing act to figure out what homes you can work with and which ones may not be worth your while in the long term. That is where you need to trust your real estate agent. The agents here at Jump Realty can help you avoid those homes and uncover some diamonds in the rough. They will certainly help you today but they will also be looking into the future to make sure your home purchase is the right one and one that can even help you grow value and equity in the future. Our agents pride themselves on their customer’s happiness and even when you move in, they’ll check in to make sure everything is just right.

If you are looking for a home, be sure to check out our listings or if you know what neighbourhood you want, click through at the top of the page. If you have any questions or want to be put in touch with someone to help guide you through the process, contact us here.

resale value