Not many people consider selling before they've even bought but if you're thinking of the future, this is the exactly the way you should buy. You don't have to be an investor or "flipper" to look at buying this way. If you're young or planning on living in the home for a few years then selling, resale value should be high priority. If you have a problem with the way a layout is designed or have issues with traffic or eyesores with the house, chances are, future buyers will too.
When buying with the intent to resell eventually, here are some key things to look for:
#1. Location, Location, Location.
We've all heard that; but it couldn't be more true when looking for a home with resell value. If the home is next to a busy road, is not fenced, or is too far from modern commerce and local amenities, it might deter the majority of home buyers. If you are concerned about the location, future buyers will be as well. Look for a home that's close to good schools, quaint neighborhoods, close to basics such as markets, banks and restaurants, and set back on quieter cul-de-sac streets or at least not homes next to busy roads. This will be more appealing to home buyers in the future.
This is often something that cannot be changed in a home without a major remodel. If the layout is funky, doesn't really work well with a a family situation or has odd rooms with pass-throughs, buyers might be a little wary of purchasing this home in the future. A basic layout with a living room, dining room and kitchen all in one area, open floor plan, bedrooms clumped together in one area and bathrooms convenient for both the bedrooms and guests, are all appealing to today's homebuyers. Older homes often times had a bathroom off the kitchen, which is not the norm now so if you're buying an older home with the funky layout, understand that you may need to do some remodeling in order to appeal to a more wide variety of buyers in the future.
Read more: Surprises Most Buyers Get When Buying
How much work are you really willing to put into this home in a short time you're going to live there? This is why a home inspection is so important. If everything is falling apart by the time you buy the home, you'll be putting thousands of dollars into the house that you may not be able to recoup when it comes time to sell. Getting the seller to do as much as possible before closing on the property would help, but it's also a numbers game; figuring out how much you're willing to put into the home versus how much you're going to get out when it sells.
#4. Talk to the neighbors.
This is a great way to find out about a particular community or neighborhood, especially if you haven't lived in the area of four. Talk to the neighbors about dogs barking, police activity or crime, school districts in the area, any negative problems or positive perks that the neighborhood might have.
#5. The right number of rooms.
There are certain factors that come with a home that make them more appealing to buyers. This could include more than two bedrooms, more than two bathrooms, space for family such as a game room, rec room or family room, additional storage space, garage space and single-story. All of these together can add up to an extremely appealing home. Finding a home now that matches all of these requirements will make it much easier to sell in the future.
Ready to get started buying a home that has excellent resale value? Feel free to give me a call at any time. I work exclusively throughout the Columbus real estate market and would love to help you find the right home for your needs and your future investment.
As a certified Realtor® for the top-rated Columbus Realty Firm - Vision Realty, with 32 years of dedicated real estate experience, I can help buyers, sellers, investors, short sale sellers and more find, sell or invest in the right property, at the right price, at the right time. Contact me anytime for updates and information on the Columbus OH Real Estate market.