The top three factors that affect your home’s resale value are discussed in this blog post. In a market with low inventory and high competition, buyers sometimes have to make fast decisions that may not always be the best decisions. Keep an eye on the future and know how your resale value could be affected down the road. You don’t want to make a snap decision that could hurt you when you sell your house later on.
- Location – You’ve probably heard this many times over the years. The location affects your resale value more than anything else. Be sure to pay attention to the location and surrounding areas. Is the home near power lines? Are you going to be located at a busy intersection? Could a highway be going in nearby? These issues will all have a negative impact on value.
- Layout and Configuration – The flow of the house and bedrooms and bathrooms with poor functionality could negatively impact your value as well. Make sure that rooms have a purpose with little wasted space.
- Additions and Renovations – Can you renovate your space to take your home from 3 bedrooms to 4 bedrooms? That will give you a boost in value. Quick fixes like paint, updating lighting and plumbing fixtures, and creating space for a home office will increase value as well.
These are just 3 factors that can affect your home’s resale value. Can you think of any others?
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