How To Determine the Resale Value of a Home

Buying a home is more than paying a mortgage on a plot of land. This is the place you are going to spend the majority of your free time, build memories, and create a life. Whether you are buying a starter home or one you hope you can turn into an income property later on, there are plenty of considerations to ponder that will affect the resale value. From space and layout to landscaping and location, there are a lot of factors that will contribute to the next buyer’s decision. Therefore, we have comprised a list of top resale value items that buyers want in today’s market that can serve you in your current hunt as well as future families you wish to sell to. Even more importantly, however, is securing the home with a customized Glen Rock Homeowners Insurance program.

Location, location, location.

Despite a pretty, quiet, tree-lined street, buyers want a home in a safe community with plenty to do. Depending on the age of the buyer, they are going to be interested in great school districts, ample shops and restaurants, convenience stores, and nightlife.

Square footage and layout.

While a big house will always attract buyers, the layout is what sells it. Giant, wasted space won’t go far in today’s market, so look for a home with a functional layout. Stan Humphries, chief economist at Zillow.com, explained to U.S. News, “Adding a bedroom will take away value. Fewer but larger bedrooms tend to boost value.” Arguably, the most important feature is having an open concept home. Therefore, reconsider how adding a wall or bedroom will affect the resale value of the home.

Keep upgrades true to the home and neighborhood.

While granite countertops and stainless steel appliances are valuable upgrades, consider how they will fare in the neighborhood. Some homes retain their value because of the original characteristics and charm of the home. Remember that you want to get your money back upon investing in upgrades. If you get rid of these, the home might be harder to sell later.

About David G. Sayles Insurance Services

At David G. Sayles Insurance Services, we strive to protect the investments of homeowners like you. Our comprehensive policies are customized for you to provide the exact coverage you need. For more information, contact us today at (855) 977-1842.

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