Here are some of the things that will affect your home’s resale value, by Kamesha Keesee.

By Kamesha Keesee

Here are some of the things that will affect your home resale value

When buying a home, most buyers focus on the house’s aesthetics, the duration of the time they will live there, and what suits their needs at that time. Rarely do buyers think of their home’s resale value.

As much as the home buying process is seen as emotional and rightfully so, seeing it is the place that you will make memories in—raising your children or fur-babies. It is wiser to think of it as an investment that you will cash in on at one point in the future.

So, if you decide to sell your home for one reason or another, consider factors that will make your home standout—factors that will affect your resale value. Here are factors that will affect your resale value.

1. YOUR NEIGHBORHOOD

A home’s demand hedges on where it is located-- A house closer to social amenities such as schools, hospitals, traffic, and restaurants is likely to attract more buyers than isolated homes built in the middle of nowhere. And depending on the kind of buyers your property will attract, may it be young adults or families-location is subjective-, proximity to these amenities will boost the resale value of your home.

2. THE SIZE OF THE PROPERTY

Size when it comes to home buying does matter. It is the very principle that pricing is based upon—price per square footage. And as much as you like a tiny home, buyers may find it unappealing as they might want additional space, thus affecting your home’s resale value. On the other hand, a large house might be out of your price range and consequently out of many potential buyers when you decide to resell.

The best thing to do is to find an in-between, one that is not too big or too small a home when you are buying a home.

3. AGE OF THE PROPERTY

An older home may have a rustic appeal to them, but

you should remember that older homes are appraised at a lower valuation than newer homes. It doesn’t mean all older homes will be priced lower, and it just means that in most cases, newer homes are appraised higher.

Older homes tend to deteriorate with time, the integrity of a home is therefore compromised. But that is not always the case, and previous homeowners might have ensured the house is well maintained and, in that case, well valued.

Therefore, before buying a home, have a professional inspection done. It will highlight any structural deficiencies or problems with a house, either new or old-- Problems that will affect your home’s resale value.

4. RENOVATION

When we buy a home, we want to make every inch of it feel like our own. Renovations can improve our resale potential, but overpersonalization of a home can affect your home’s resale value.

Renovations are subjective, and your taste might not match any potential buyers. Besides, your future homebuyers may decide to tear down all the renovations you put your sweat and money

5. FLOOR PLAN

An open layout significantly raises your resale value. A home with narrow hallways and minimal living space will put off a lot of buyers. Therefore, focus on a house with big open kitchens as most people want to interact with their guests as they cook for them. Another consideration that will affect your resale value is natural lights. Big windows that provide the home with natural light give a home a friendly-homey environment.

Like any other market, the housing market can be very competitive, and if buyers are to consider your house, it must stand out. When buying a home, think of it as a business investment. And though you might not be thinking of reselling it, it is worth it in the end to consider the above factors that will most definitely affect your resale value. Involve your real estate agent, have them conduct a comparative analysis of homes in a neighborhood you’re interested in, look beyond the cosmetic appeal, and do not get carried away with renovations. Real estate agents at Power Is Now Media Inc. go over and beyond to make sure you make a suitable investment. Contact us at www.thepowerisnow.com.

ABOUT KAMESHA

DRE#01292916 | Corona Kamesha’s journey in the real estate business began when she was 15 years old, where she was employed as a teller at Security Pacific Bank. Even though her early career in real estate was not by choice, but by somewhat an accident, it would turn out to be the best turn of even for her. Through this, she quickly realized the potential of being a Mortgage Loan Officer. And with consistent clientele in an ever-changing environment, it was recommended that Kamesha get a real estate license. That, she says, was the best decision ever. While the star that led her to the real estate industry had shown brighter days, little did she know that her employer would shut down the doors for good? She finally began her journey as a real estate salesperson in the year 2000.

If you are looking to buy or sell a home or would like to know more information about the process, your home, the market, all things Real Estate, Kamesha is your go-to agent. There are also many valuable tools provided here on your site for Real Estate knowledge. Talk to Kamesha today to find out more about home valuation, your home mortgage calculator, and Property Finder pages, to name a few. Get in touch today for premier real estate services. And if you are in the Riverside area, contact Eric Lawrence Frazier, MBA, at 800-261-1634 ext. 703, a seasoned real estate agent that is very knowledgeable about everything mortgage.

ABOUT THE POWER IS NOW MEDIA

The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, headquartered in Riverside, California. We advocate for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph.: 800-401-8994 Website: www. thepowerisnow.com

Works Cited:

https://www.opendoor.com/w/blog/factors-that-influence-home-value https://www.99.co/singapore/insider/factors-affecting-resale-value/ https://www.youtube.com/watch?v=ca11w9_Kc6E

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