Buy the house that increases in value…

Jim_SamsonWhen you buy a house, whether you buy it as an investor or as a long-term resident, you want that house to appreciate in value over time.

Don’t you want to eventually be able to sell whatever house you own for more money than you bought it for?

In the effort to do just that, many people make common mistakes while avoiding the aspects of a home that will increase the value. Here are the features of a house you NEED to focus on for appreciation…

1. Find easy fixers

Understanding this concept could be the most pivotal to your home’s value appreciating. What you want to find is a house that you can ‘fix’ or add to over time in small efforts to bring up the value significantly.

Upgrade the kitchen countertops one year, then redo a bathroom the next, then replace aging appliances, then add screen to the porch, etc. The point is to buy the house while it needs small, relatively simple upgrades and then sell it completely ready to go.

What you don’t want is to buy a house that is a big fixer-upper and become both overwhelmed AND sink tens of thousands into it just to make it presentable.

2. Avoid pools and the ‘best house in the neighborhood’

While pools can add to a homes value, they can be expensive to upkeep and selling a home with a pool puts a limit on your target audience. You will almost immediately exclude families with small children, and others like that.

You also don’t want to buy a house that’s easily the nicest in the neighborhood. Value is a balancing act within a neighborhood, so the nicest house will lose some value because it’s surrounded by lesser houses, and the lesser homes will rise in value because of the big, beautiful home.

3. Never overlook location

No matter how many times you’ve heard it, location is a huge deal when buying and selling a house.

If you want your home to appreciate in value, realize that the location it’s in will never change. Do your research on crime rates, school district ranking, proximity to grocery stores, malls, restaurants, etc. before buying the house that you eventually would like to sell for more.

4. Focus on 1st impression

Most people will now see photos of the inside of a house before ever paying a visit, but then comes what I would call the real 1st impression…

The last thing you want is someone scheduling a visit to your home, arriving, seeing the front of your home, and deciding they don’t want to waste their time going inside.

Make sure you’re keeping the view from the curb nice and tidy, and don’t forget to get the roof cleaned, pressure wash the driveway, etc.…and do all of that REGULARLY.

If you can keep up with those features consistently, you’ll have no trouble helping your home appreciate in value significantly.

Bookmark and Share facebook twitter twitter

Leave a Comment