The other day I was keeping up with the news at the San Antonio Board of REALTORS website and happened upon a quick post from the "Chairmans Column" and thought it is incredibly timely in this changing market. There is an old adage in the real estate market that "all the money to be made in real estate is made at the purchase" and this post encapsulates that perfectly!
What would you say if someone asked you how easy you think it would be to sell your property—before you’ve even bought it? Although it may seem too early to think about resale ability, here’s what you should contemplate during your search for a new home.
What determines resale value
The same criteria you’re considering during your house hunt—location, features, and nearby amenities, for example—can affect a property’s resale ability. And when you’re selling a property, the goal is to appeal to the greatest number of potential buyers. For instance, if you don’t have kids, you might not be worried about the quality of the school district. However, future buyers with school-age children probably will be, so schools could still be part of your decision about a property.
Will other buyers agree?
If you’re only planning to stay in the home for a few years, you may be willing to buy a house that, for example, has one bathroom or a converted garage. But ask yourself whether future buyers will feel the same way.
How you can help protect resale value
Some real estate professionals say a home is only worth what a buyer is willing to pay for it, but there are ways you can help protect your investment’s resale value. Try generally appealing ways to improve or maintain the home. For example, you may want to upgrade the bathroom or kitchen fixtures or improve the landscaping but do so with potential future buyers in mind.
Make it your own, but proceed with caution
While it may be true that the property is yours, you may want to think of resale value before making any unique or significant changes. Features like in-ground swimming pools and exotic landscaping are attractive to certain buyers, but other buyers may not be interested in the maintenance.
It may depend on the market
Remember that there are trends in real estate—what’s in demand now may not be when you’re ready to sell. Talk with a San Antonio area REALTOR® to determine what features are trendy in your market and which ones are always in demand. He or she can offer advice about purchasing a home you love that will also appeal to most buyers when you’re ready to move.
For more information on buying, selling, or leasing your home visit SABOR.com and use a San Antonio area REALTOR®.
As you read this, I hope you mentally inserted "Gina Candelario at 210.744.8265" any time you read the words "San Antonio area REALTOR®" - Hehe, I couldn't help myself.
Sooo, with that said, it is easy to see why future potential profits are made at the purchase with a correct selection of real estate rather than only upon the sale!
Thanks for reading and let us know how we can help...
