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How to choose the home with great resale potential

a house bricked house with surrounded by trees.

Home is where the heart is. It is a space you can craft to become your little paradise, a place that can put you at ease and give you peace of mind. This is just one of the many reasons why buying a home is a big deal. It is an exciting process that holds plenty of possibilities for you and your loved ones.

One of the most important things to consider when buying a home is its resale value. It’s the amount you can expect to sell a house in the future. While it might seem odd to think too far ahead, evaluating a home’s resale potential can help you invest in a property that’s worth your while. And besides, who wouldn’t want to enjoy returns on their investment in five or ten years’ time?

To help you find a home that will allow you to enjoy just that, here are a few factors to bear in mind.

Location

You often hear real estate professionals harp about the importance of location when searching for a home. Trust us— it’s for a good reason.

Location has a significant effect not only on current property values but home prices in the future, too. A hot market will attract a large pool of buyers and will most likely continue to do so for a long time. It’s the opposite for less desirable locations. It will be more difficult to find buyers and sell it for a good price.

Things change, however. An attractive market today can easily become undesirable in a couple of years. To help you find a good location, look at local trends, like development plans, home prices, crime rates, and school district performance.

Property size

The last few years have seen the rise of tiny homes. But if you want to appeal to a larger base of home buyers, your house needs to have the right amount of space.

On average, a typical home in the United States measures 2,301 square feet. That’s enough for at least two bedrooms, at least one full bathroom, a decent kitchen, and a mid-sized living room. This amount of space can attract single home buyers, couples, young families, and retirees.

The age and condition of the home

Older homes possess a unique charm. With age comes history, and that is exciting for some homebuyers especially if the home in question is over 50 years old or is considered a historic property. Nevertheless, old houses can come with a slew of concerns.

Buying an older home is more involved. You’ll need to make updates to suit your needs and meet current building standards. This is one of the reasons why most home buyers prefer newer homes. They’re move-in ready and are less likely to require repairs.

Available storage space

Storage space will always be one of the must-have home features especially in urban areas. The better the storage options, the more attractive a property is to prospective buyers. More importantly, storage can exponentially increase the value of a home.

There’s more to storage than cabinets, closets, and shelves. Sheds and garages are something to consider, too, particularly if you are looking to purchase a home in an area where private vehicles are the main mode of transportation.

Energy efficiency

Green is in. For most home buyers, energy-efficient homes are an attractive option. It provides a means to lower the household’s monthly overhead. Plus, it can lessen your carbon footprint.

When buying a home, see if the appliances and some key features are energy-efficient and sustainable.

Outdoor space

2020 made people realize the importance of having access to outdoor spaces. As you look for homes, consider ones that have a yard, a garden, a patio, or even a terrace for apartments, however big or small. There is nothing quite like having an outdoor space to retreat to when the going gets tough.

Find homes with resale potential in Williamsburg, VA real estate

When it comes to finding the perfect home for you, it’s also important to plan ahead.

Coldwell Banker Traditions knows Williamsburg, VA real estate. We’ve been serving the area since 1885. Our team can help you find the home that will serve you well in the present and in the near future through our tried-and-tested home buying tips and in-depth market knowledge.

Use our expertise today to explore homes for sale in Williamsburg, VA and the larger Hampton Roads area. Call our team at 757.229.9595 or email info(at)cbtraditions(dotted)com to set a private real estate consultation.