When searching for your perfect Colorado Springs home, there's something you should keep in mind that many buyers forget to consider, the home's future resale value. It's not surprising that many home buyers may forget to consider resale value when they buy a home. They are focusing their time and attention on how the home will suit their needs while living there. By ensuring that you purchase a home with good resale value, you will be saving yourself potential problems later. According to the National Association of Realtors (NAR), choosing a home should also be approached as a business decision.
The NAR points out that there are many things to consider
before purchasing a home, such as the location, size and condition of the
house, number of bathrooms and bedrooms. You could fall in love with a house
for its charm while easily overlooking these vital components. But armed with
all the rules of the game, you can nab the perfect house for you and your
family while enjoying the peace of mind that you've landed a prime piece of
real estate that won't give you resale problems later.
Things to Consider:
If you choose a home that is located in a desirable location,
you'll attract a larger pool of buyers later when you decide to sell. Look at
what School District the home is in. This is often a huge factor on home value
here in Colorado Springs. If you find a home in a less than desirable location,
it's possible that the home will always suffer a lower selling price than other
homes around it. Homes that are located in quiet areas that allow easy
access to important thoroughfares often have added value. Homes that are located
next to busy streets and heavy traffic areas are not favorable to buyers and
the future selling price will suffer as a result.
Bedrooms:
A
home with at least
three bedrooms is always a better choice. Here in Colorado Springs, many
homeowners are looking for at least four bedrooms. As a general rule, more
bedrooms mean better resale value.
Bathrooms- How Many &
Where?
A home should have at
least two bathrooms, but depending on the floor plan of the home, this may not
be enough for many home shoppers. A master bathroom is a must with most home
buyers today, so if it is a two story home, there should be a minimum of three bathrooms.
One on the main level, one in the Master and one for the guest or kids rooms on
the second floor. If the home has a basement, as the majority of Colorado
Springs homes do, it will need a bathroom down
there too. So, ideally, a two
story home with a finished basement should have 4 bathrooms. Another amenity that home seekers pine for is
the five piece Master bathroom. A five piece Master bathroom is one that includes a separate
bathtub and shower, toilet and a double vanity.
Garage, Storage-space, Laundry Room
These features are often overlooked, but they make a huge
difference in terms of comfort and convenience. Closets are a standard each
room, but walk in closets receive higher resale value for their increased
convenience. Walk in closets these days are almost an essential, and homes with
tiny closets are more difficult to sell. People want large spacious closets in
the Master bedroom.
People want a garage. Most look for a two car garage, and some
look for three. But unlike closet space, extra space in the garage is
considered a luxury to most people and they can easily go without. Homes with
maximized resale value will have a fully enclosed, attached garage with two or more parking
spots.
A Home With a View
The National Association of Realtors says that homes facing a
business park or a strip mall sell for less due to their unappealing view.
Homes with an attractive view always sell at a premium. But this is a feature
that can easily be overlooked by buyers who are more concerned with the
location and size of the home. But a home's view greatly contributes to a
person's state of mind as well as their perceived valuation of the property. Take into account the
home's view as well as any future developments that might impact the home later.
Here in Colorado Springs, a view of
Pikes Peak is highly sought after by many home buyers. I've had buyers tell
me they only want to look at homes
with a view of Pikes Peak!
Updates and Renovations
The kitchen and bathrooms are the two most important rooms in the
house when it comes to resale value. Many home shoppers won't consider taking
on remodeling projects, so an outdated kitchen or bathroom can often cause them
to reject an otherwise perfect fit. Kitchens are expensive to remodel, so
buyers want one that is already finished and updated. Islands, breakfast bars,
and pantries are always welcomed additions for home shoppers.
Landscaping
Both
the home's interior and exterior are
major considerations when it comes to evaluating a home's resale value.
Landscaping contributes to a home's curb appeal, and curb appeal is an
important factor to consider. The lot around the home should be well groomed
and maintained.
Even if you're buying a home with the primary purpose of living
in it, don't forget the importance of resale value. A home is one of the largest investments many people will make, resale value should be an important part of the decision.
If you would
like help finding a home, or you are considering selling your home, I would be happy to help you in any way possible. You
can email me, or give me a call #719-357-1023
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