In buying a new home, it’s not enough that it can accommodate your present needs and requirements. You also need to think long-term: Will it be capable of fulfilling your changing lifestyle requirements several years down the line? Moreover, will it enable you to receive a handsome return on your investment come resale time?
To find out early on if the house you’re eyeing has the potential for high resale value, check for the following indicators below.
A property will attract more potential buyers if it’s within a short driving or walking distance from essentials and destinations, such as:
- Reputable schools. Home buyers who have or plan to have children can be very particular about the schools in the area. A home located in or near a high-ranking school district will appeal to many potential buyers.
- Shopping, dining, and leisure. Are there grocery stores and malls that are just minutes away from the house you’re eyeing? What about restaurants and recreation areas? If yes, then the house is sure to have great resale value in the future.
- Transportation. Easy access to major streets and highways can be a big plus as this gives a homeowner extra mobility and a shorter traveling time to most destinations. More so if the house is located near routes of public transport like buses, trains, and shuttles.
Don’t skimp on your budget by leaving out the home inspection. This will reveal if the home has flaws that could make or break the entire transaction.
A home inspector’s evaluation will include the status of the following fixtures and amenities:
- Plumbing and electrical systems
- HVAC system
These should be in optimal working condition or, at the very least, in need of minor repairs only. If the house remains well-maintained up to resale time, you’re in for a windfall of profits.
GREAT CURB APPEAL
A home’s curb appeal says a lot about the level of maintenance the house has received from its present owners. If it’s pretty on the outside, then it’s most likely to be pretty on the inside, too. A home with fantastic curb appeal can see an increase of 5.5 to 12% in its resale value compared to those with a blank yard. And when you decide to put this house on the market, it will also have the potential to easily attract home buyers who’ll be willing to pay well for its purchase.
APPEALS TO A WIDE VARIETY OF BUYERS
When assessing a house’s structure, floor plan, and other characteristics, here are some things to keep in mind:
- Single-floor homes are usually easier to sell than homes with two or more floors because they are more structurally stable. They are also preferred by older buyers and those with physical disabilities.
- Having all bedrooms on the same floor is preferred by families with young children.
- Homes with three to four bedrooms tend to attract more buyers.
- Most buyers these days are attracted to homes with an open floor plan.
You’ll most probably want to live in a community where the outdoors is safe for children to play in, the streets are well-lighted at night, and neighbors look out for one another. Safety and security do come at a premium so homes in neighborhoods like this are most likely to have high values.
Be wary of a neighborhood with red flags like these:
- Excessive street art
- Security signs around houses
- Unattended children
- Suspicious activities
- Defective street lights
Thankfully, there are neighborhoods in West Palm Beach that can provide safety and security while being close to the best amenities and conveniences the city could offer. One such neighborhood is The Club at Ibis in West Palm Beach. Homes for sale in this exclusive enclave not only allow residents to enjoy peace and quiet but also give the assurance of 24/7 security within the community’s perimeter.
WORK WITH A TRUSTED REALTOR IN YOUR HOME SEARCH
Going through the entire home-buying process can be tedious and overwhelming; more so, forecasting the resale value of a home you plan to buy. But if you have a real estate agent working with you in this transaction, their guidance and advice can help you in coming up with informed decisions until you finally receive the keys to your new home.
In West Palm Beach, particularly in the upscale community of The Club at Ibis, The Telchin Group LLC is the official real estate brokerage that specializes in properties here. The lovely homes in The Club at Ibis will not only assure you of great returns on your investment but will also provide you with the top-notch amenities you’ve been looking for in your dream home. Located in Palm Beach Gardens, this dynamic team of real estate agents will ensure success in your home-buying journey.