Keep the Resale Value in Mind

When you buy a home to raise your family in and plan to stay for the long term, resale is something in the unimaginable future, but now people move more than ever before, whether for job opportunities or because of divorces or myriad other reasons. It is likely that you, too, will move out of the home you are now buying, and even though that day may be far off, it is worthwhile to consider the resale value of your home when you are buying it.

Many buyers calculate the resale value in anticipation of the acquisition of the next home, treating the home as an investment on which they want a good return. The buyer likely will have projected the resale price based upon the anticipated or historical increase in value in the neighborhood or area.

The variable is that markets change. You may find your home increases more or less than you anticipated as the economy and employment rate of the country changes. Nothing guarantees that your home will appreciate at the same rate that others like it have in the past. So, while you should consider resale value as you are looking for a home, keep in mind that its future value is dependent on the work you put into it as well.

You will always be best off taking good care of and maintaining your property. Whether you purchase the property for the short or long term, not taking care of your property will cost you more when it's time to sell.

A roof problem gets worse with time. A sewage problem doesn't cure itself, and tuck pointing does not regrow. You must spend money to maintain your property (this does not include redecorating, however). Somewhere in your future, there is likely going to be a resale of your home. Buy with an eye to what will appeal to other buyers in the future, and maintain your property during the time you live there. The results will be worth it.

  1. Home
  2. Home Buying
  3. The Resale House
  4. Keep the Resale Value in Mind
Visit other About.com sites: