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Real Estate, Property, Immovables

 

Buying A House With Resale Value in Mind

Like many things in our life that have changed dramatically, so did our habitation practices. Most of us don’t stay in one house for the full duration of our lives as it used to be for many people in previous generations.
Our modern dynamic life style and economy, calls for flexibility, mobility and frequent changes, People are following their jobs and careers even if it means moving from one side of the nation to the other.
The most important three factors are: location, location and location

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It’s one of our biggest investments and some of us are doing it more than once during our life.

Like many things in our life that have changed dramatically, so did our habitation practices. Most of us don’t stay in one house for the full duration of our lives as it used to be for many people in previous generations.

Our modern dynamic life style and economy, calls for flexibility, mobility and frequent changes, People are following their jobs and careers even if it means moving from one side of the nation to the other.

This tendency is in line with our culture of consuming society. We replace everything faster, we treat cloths, cars (some just lease), refrigerators and our dwellings like fashion items with short longevity.

When we decide to buy a house we need to think in terms of sort to medium range periods of time and that should bring us to consider the resale value of our home in the future.

Buying a home with good resale value might take a little longer, and it might take a bit more work on your part, but you'll love the payback later, when it sells quickly and puts extra money in your bank account.

The first consideration should be your family needs but it’s cleaver to keep an open mind about what might suite future buyers as well.

The most important three factors are: location, location and location... :-)
Indeed, it’s first thing to consider when looking for a home. So, what makes a good location?

There are some general elements which are obvious like:

- Does the neighborhood have easy and fast access to the schools, shopping centers and country club.

- It’s wise to pick a house that is located relatively elevated above the area, that can provide two advantages: a flow of good air and a nicer view.

- How many neighbors are adjacent to you and/or across you in proximity, off course the less the better.

- A house located at the end of the street will suffer less noises from the neighbors and their guests. If the street is a dead end it’s even better. A corner house may have more light and air.

- The positioning of the house towards the north if it’s a warm area as opposed to the south in cold areas. In general, a rule of thumb and this one is general and found right to many locations around the world, as strange as it may sound, the northern neighborhoods are usually more desirable than the southern ones exactly as the western ones are more prestigious than the eastern ones.

- The size of the lot, its shape and the square footage of the house itself.
If the majority of buyers in your area are young families with children,
consider a house with a large yard that's not fronted by a busy street.

- There are many other environmental aspects to consider with respect to
personal preference like a green agricultural area vs. urban area,
quality of schools and other social services and facilities.

In addition to these external considerations there are many important internal elements that can make a house quality higher and buyers are always looking for, such as:

- Closets, lots of closets and with as much additional storage space as possible.

- Light and bright - Homes with lots of natural lighting are very popular.

- Split bedroom plans, with bedrooms on each end of the home, are increasingly popular with buyers.

- If you live in a scenic area, having a view can help you sell.

- Plenty of bedrooms, baths and Rest rooms.

- Large and convenient kitchen with as many cabinets and cooking space as possible.

- The tendency to work from home calls for a suitable room to be set as a home office.

- Laundry and dryer machines located at the same level as the bad rooms.

- A spacious basement is a plus.

<b>Features to avoid</b>

- One-bath homes sell for significantly less than homes with at least two baths and they take longer to sell.

- Electric baseboard heat and electric ceiling heat are not as desirable as
central heating systems. A fireplace in the living room is a plus.

- Tubs and showers in outdated colors, or scratched from years of improper cleaning, might be hard to change without ripping out doors or walls.

- Popcorn ceilings date a house, you know, those bumpy ceilings that were so popular in the 1970's.

Your first objective is to buy a home that's right for you, but do consider its resale value before you make the final decision, especially if you know you'll move again within three to five years. A careful purchase now will help give you extra funds to move up with the next time you buy a home.

<b>Home Inspections</b>

Depending on the type of financing you choose, there should be either 2 or 3 separate inspections on the home you want to purchase. The first should be your own basic inspection (see the bottom of this page for what to look for), the second should be a professional whole-house inspection by a reputable person. Should you select a government loan (FHA or VA), the third inspection should come at the time of the appraisal, which to some degree amounts to a "mini-inspection." Do not, however, rely on this appraisal as your only inspection of the property!

We cannot emphasize enough the value and necessity of an extensive home inspection. Many home purchasers, either in the desire to save the $200 to $500 that a good inspection costs, or due to simple ignorance, have spent enormous sums of money repairing items that any good home inspector would have pointed out. Any offer to purchase you make should be contingent upon (subject to) a whole house inspection with a satisfactory report. Do not let anyone not the agent, not your family or friends, and especially not the seller, dissuade you from having the property thoroughly inspected! Not only will you sleep much sounder after you have moved into the house, a professional inspection can give you an escape hatch from a contract on a defective house. If the contract is written contingent on an acceptable inspection, any defects in the home must be either repaired or monetarily compensated for.

If you are not satisfied, you have the option to cancel the contract.

 

Checklist for Buying a Home

Buying a home can be one of the best feelings in the world. Nothing beats that feeling of security and satisfaction when you open the door to a new home and are happy with your purchase. The question is, how can you best ensure that feeling is going to happen? There are a lot of pitfalls in the Real Estate, Property, Immovables world and naturally you want to be able to avoid them and end up with a great home.

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Buying a home can be one of the best feelings in the world. Nothing beats that feeling of security and satisfaction when you open the door to a new home and are happy with your purchase. The question is, how can you best ensure that feeling is going to happen? There are a lot of pitfalls in the Real Estate, Property, Immovables world and naturally you want to be able to avoid them and end up with a great home. Here are some great tips on how to streamline your home purchase and keep those little headaches from cropping up.

Enough cannot be said about being financially secure and aware. If you spend some time organizing your finances before making an offer the process becomes much less stressful. Take some time and research your credit history and find out if there are any outstanding issues or problems and get them taken care of. This can negatively affect your chances of getting a good mortgage, so it's in your best interest to clear any credit issues up before the buying process starts. Most mortgage companies will offer you a pre-qualification, now this is nice to have but you are better off to take it a step further. Obtain a pre-approval for your mortgage. The pre-approval gives you an absolute number to work with. Not only does this make shopping for a home easier on you, but it gives you a significant amount of leverage in the actual sale.

The next logical step is to begin working with your realtor on finding homes that suit your needs. Let you realtor know what things you cannot do without and those things that you would like and let them come up with a list of fitting homes. During this time you can also research the available homes in your chosen area on the internet and find places that appeal to you. With this ammunition you and you agent should be able to view homes and properties with confidence and easily find a place that is agreeable to your needs, wants, and wallet.

Once you have located the perfect property, have an inspection done. This step cannot be stressed enough. Be wary of sellers who are willing to sell to others on the "no inspection" clause. This is never a good thing and much of the time they don't want an inspection done for a reason. The inspection is extremely important step in ensuring your protection as the new owner. After all, this is going to be home right? Don't ever sell yourself short.

 

Checklist for Preparing Your Home to Be Listed

Once you decide to sell your property, you need to realize it evolves from your residence into a product. Before listing it, here are some tips on sprucing up your product.

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Once you decide to sell your property, you need to realize it evolves from your residence into a product. Before listing it, here are some tips on sprucing up your product.

Property Checklist for Preparing Your Home to Be Listed

Most sellers make the mistake of assuming the way they live in a home is a good atmosphere in which to conduct a sale. It is not. Homebuyers are not looking for a property in which you, the seller, seem comfortable. They are looking for a property in which THEY will feel comfortable and can envision themselves settling down in. This may sound like a minor distinction, but it is actually very large. If you can wrap your mind around this fact, you will have a much better selling experience.

First and foremost, you must understand that people have different tastes. The particular chandelier or aspect of your home, which is unique, may seem appealing to you, but not to buyers. Emotionally, you must be prepared for buyers to make rude comments regarding aspects you might cherish. Remember, it is a product to be sold and nothing else. If they don’t have taste, that is their problem. On the other hand, they could be the buyers of the property you are trying to sell, which is your problem. Remember that when you are about to make a snide remark.

Before listing your property, it makes sense to address a few issues to avoid any problems.

1. Clean up closets – sellers look.

2. Clean up garages – sellers consider it a sign of how you took care of the home.

3. Clean the refrigerator – make it spotless. We are talking surgical room spotless.

4. Same goes for the oven.

5. If you have an attic, clean and organize it. Buyers will look everywhere.

6. Make sure all light bulbs work.

7. Fertilize the yard a few weeks before listing the home.

8. Repair leaky faucets.

9. Consider replacing worn or old fixtures.

10. Clean the windows.

Again, the goal is not to show a home you enjoy living in. The goal is to show a home they buyer could be comfortable living in. You are shooting, as much as possible, for that new home look.




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