If you want to purchase a home that is worth its weight in gold, you know there is more to the price than just the location. Many homes are worth only as much as the locals are willing to pay, sometimes even less. Don’t end up purchasing a home with a poor resale value. Consider the simple tips below to help you find a home that will only appreciate in value.
Focus On The Location
Choose the location of your potential home very carefully. The community in which the home is located in is what can help appreciate the property value. Don’t just pay attention to where you want to live, pay attention to details that can help your home’s future selling point.
A Stable Economy
It is important that the city you are choosing to purchase a home in has economic stability. This is crucial when down the line ( 10-20 years from now) you want to sell your home. A city that is economically stable will still be a desirable place to live years from now.
Your chosen city should not only consist of neighborhoods. There should be an equal amount of commercial and private businesses which can provide jobs and further the sense of economic stability. These businesses help the city fund updates and road upgrades whenever necessary.
Take a scenic drive around the city and inspect how well the community is maintained. There should be a sense community pride in the way people maintain their homes.
Local Services Offered By The Government
Community pride isn’t the only thing you need to focus on. Having a public library is just as important. Does your future community have a well-stocked library? Are there several branches?
Check out the local crime statistics. How well is the local police department handling the crimes? How does your future city compare to the national average?
People of all ages should have something to do in the city. Community services are important because it ensures youth can sign up for sports, senior citizens can enjoy outings, and local families can participate in public events. A poor city will not be able to fund any community services.
This makes it important that you have a local real estate agent who can help you with these different tasks.
You may not have children, or perhaps you never want any, but it doesn’t mean that the school system is important. If you are planning on selling the home again, you should focus on the schools as well because potential buyers may have concerns.
Are the local schools too crowded? Is there enough space for all of the local children, or are more schools needed? Are new schools going to be built? If so, how will property taxes be affected?
The Property Taxes
In most cases, potential buyers stray away from purchasing a home in a residential area where property taxes are high. Even if the area is a desirable one, the high taxes may not always be justified. Keep this in mind when searching for your home.
Buying the perfect home in a desirable neighborhood is no easy task. It can take months to find a home that really fits all of the descriptors discussed in this article. Do take your time and you will find your home’s value appreciate over the years!