How to Consider the Resale Value of a Home

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By Peggy Hazelwood
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Consider the Resale Value of a Home

One of the important factors to consider when buying a home is its resale value. Unless you plan to live in the house forever, you will more than likely sell your home down the road. Here's how to consider the resale value of a home.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

knowledge
judgment

Step 1

A view can greatly improve resale value of a home.

Location. Location. Location. These are the three magic words in real estate. A great house in a bad location usually isn't that great of a house. This factor is important to consider for resale of a home. On the other hand, if the location of a home comes with some kind of view, rather than directly overlooking another house, the resale value will be greater.
Step 2

For good resale value, buy a smaller house, not the largest, in a neighboorhood.

House Size. When you consider the resale value of a house, it is better to pass by the largest house in the neighborhood. Market values are based on homes that are located closest to the house for sale. If your house is the largest, chances are it won't hold its value like a smaller- or medium-sized house in the same neighborhood.
Step 3

Good curb appeal is important when it's time to consider the resale value.

Curb Appeal. Be sure to think about curb appeal. When prospective buyers are looking for their new home, they want a good first impression. Can you make improvements yourself to increase the resale value? Curb appeal also includes the surrounding buildings and homes, not just the actual house you will be selling. If a factory or other industrial building is across the street, many buyers will not want to live with that as a neighbor.
Step 4

Improvements. When you consider the resale value of a house, remember to think about upgrades and improvements you can make yourself while you live there. If you are handy, you can save money on labor costs. The improvements can increase the resale value of a home. The kitchen and bathrooms, when upgraded, provide a better return on your money than other areas of your house.
Step 5

Rooms and Their Size. A two- or three-bedroom house will have a better resale value than a one-bedroom. And a house with two or more bathrooms will sell better.
Step 6

A swimming pool does not add to resale value.

Fireplaces and Swimming Pools. If you want a fireplace to enjoy on cold evenings, that's fine. The same with a swimming pool to enjoy during hot summer months. When you consider the resale value of a house, remember that these two features do not provide much value. They can, in fact, be seen as a liability for safety reasons by some prospective buyers.
Step 7

Miscellaneous. Plenty of closet space is important to many home buyers, especially a master bedroom closet. An attached garage will help raise the resale value. A two- or three-car garage will help the house have a better resale value than a one-car. The location of the laundry area is important. If it is tucked away discretely but still convenient to use, it will help with resale value.
Step 8

Appeal to the Masses. If you can appeal to the most number of people, the resale value of your house will be high.

Comments

anixon84 said

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on 1/24/2009 This will come in handy when we decide on what house to buy and when we sell our current home! Thanks!

luv2blog said

on 12/31/2008 Really good advice! Thanks!

StreetBloggers said

on 12/31/2008 Great tip thanks hopefully our house in Oklahoma will increase in value in the next two years. Unlike most of the US our real estate has not been effected.