Buying a Home With Resale Value
There are many things
that should be considered when buying a home. Since most homebuyers
expect to buy a bigger and better home someday in the future, resale
value is an important factor in decision-making. You use the proceeds
from selling one home to buy the next one.
While no one can
guarantee that your home will grow in value, there are steps you can
take that maximize your potential gain.
"Location,
Location, Location"
"Location, location,
location," is a common and almost hackneyed phrase in real estate
literature. Your agent may even throw it at you when you ask for advice
about buying a home. However, what does "location, location,
location," actually mean? Why repeat it three times?
Mostly,
"location" is repeated to emphasize that it is extremely
important to the resale value of your home. The idea is to buy a house
that will appeal to the largest number of potential future homebuyers. A
careful choice of location can minimize potential negative influences on
future resale value, and maximize positive influences.
Focusing on resale value
requires you to make several different "location" choices. The
first choice you have to make is "which community?" At the
very least, you should narrow your choice down to just a few local
communities.
©2000 by Terry Light and RealEstate ABC
|
