Home buyers navigating the real estate market often focus on the factors that suit their needs, but many times over look the homes future resale value. This can be a big mistake when it comes time to resell. Having a good agent is imperative – Selling and Buying property in the state of CA requires a lot of knowledge and a lot of paperwork from both sides of the transaction. There are seller disclosures and Buyer obligations that need to be met and if any of that should fall through the cracks, the next thing you know, you could be in litigation. Agents protect clients from those scenarios and should anything still happen, they are covered by insurance that protects you as their client. Here are a few things you might want to consider that will affect a home’s resale value down the road.
#1 – THE NEIGHBORHOOD
Location influences the value of real estate more than anything else. Homes in a desirable location will attract a larger pool of buyers, and competing buyers typically push up prices — And this is exactly what you want when you put the house up for sale in the future!
#2 – LAYOUT AND CONFIGURATION
Regardless of the square footage of the house, the configuration of the rooms plays an important role in establishing resale value. For example, bedrooms and bathrooms with poor layout or functionality could negatively impact the value of the property.
#3 – ADDITIONS AND RENOVATIONS
Studies also show that adding a bedroom puts your home into another price category as well, so in some areas, if you convert your loft or den, it can be an instant injection of equity. Quick kitchen fixes, like replacing cabinet doors or adding new sinks and faucets, will typically increase the value of your home as well.