When shopping for a potential future home, it is natural to prioritize features you are personally looking for in a home. However, you may also want to include the resale value in your home-buying checklist.
Since buying a house is a significant financial investment, choosing one with good resale value guarantees that you will get substantial returns come resale time.
Ensure that you purchase a home with good resale value by referring to the list below.
What looks appealing to you may not be so for others. You may be drawn to the quirky house that stands out among the conventional homes on the block, but some buyers may choose the ones that blend in beautifully with the rest of the neighborhood.
In general, though, great curb appeal involves a neat and well-maintained exterior and attractive landscaping. Trimmed trees and hedges, freshly painted fences and shutters, and an inviting entryway will attract more buyers into getting to know more about the home and making an offer.
Location and neighborhood
An indication that a location or neighborhood is desirable manifests in how quickly the homes in that area were sold.
What makes a location desirable? The City of San Francisco, being the cultural, financial, and commercial center of California, offers various homes for sale at different price points that cater to a wide range of lifestyles. The city is a top innovation hub, making it a desirable living space for executives and entrepreneurs.
An accessible location with proximity to amenities and schools also boosts a home’s resale value. The neighborhood’s safety and security is also a priority. So, make sure to do your research on the area, such as crime trends, zoning laws, and nearby facilities. Your real estate agent can provide you with this kind of information. The Internet also has several good apps that you can use, such as NeighborhoodScout and maps that will point you to safe neighborhoods. It is also worth visiting the area yourself to get a feel of what the neighborhood is like.
Buyer preferences vary per area. Ask your real estate agent about the trends and the types of buyers in that specific location.
Homebuyer preferences can be influenced by the following values:
- Number of rooms. People usually look for homes with three or more bedrooms, master suite included, and more than one bathroom. Having a sufficient number of rooms makes a home suitable for those with growing families and will more likely sell quickly at a favorable price.
- Open floor plan. Many buyers these days look for an open-concept floor plan where indoor and outdoor spaces flow seamlessly.
- Entertainment space. Whether it’s a large living room or a spacious backyard, many buyers look for a home with enough space where the family can either spend time together or where the host can entertain guests or throw parties.
In San Francisco’s luxury real estate market, ample storage space is a must for homebuyers. A home will have better resale value if it has at least one walk-in closet in the master suite, along with other rooms having enough closet space. Large garages or carports, outdoor sheds, built-in interior storage, basements, and attics also guarantee higher resale value.
Condition and potential
You would not want to purchase a house that needs significant repairs is usually glossed over by home buyers. They usually prefer new builds where they can move right in without worries or an older home that has been well-maintained at the least. As long as you are willing to commit to investing in maintenance, the value of your home will have the potential to be sold at an attractive resale price; more so if you make updates and upgrades to it.
Consider the home’s potential value by doing some computations before making a purchase decision. Take your renovation plans into account and add these to the potential ROI, plus any other improvements you are planning for the house. Home upgrades that increase the resale value significantly involve those that make the home look and feel more spacious.
Work with a trusted real estate agent in San Francisco who can help you realize the potential resale value of your next home here – Nina Hatvany! She and the rest of Team Hatvany are top local realtors who will be glad to assist you in looking at homes for sale in San Francisco, CA. Call them now at 415.710.6462 or send them an email at team(at)teamhatvany(dotted)com.