Tips to Buying Wisely in the Real Estate Market

In the real estate market, the saying rings true, ‘Make good choices today so you don’t have regrets tomorrow’.  Buying a home with your eyes or your heart doesn’t always add up financially in the long run.   Taking the process one step at a time and looking over my tips to help buy a home that will have good resale value is a good start!  But working with an experienced and trustworthy Realtor who understands your needs is critical to your long term success.

Here are my tips to Buying a Home with good resale value!

  1.  Location– this may not be an important factor for you right at the time, however when it comes to selling, the neighbourhood or proximity to amenities can pay off.  Top amenities: School, Downtown, quiet cul-de-sac or even close to medical services can all be beneficial.
  2. Neighbourhood Amenities– For families, parks and trails can be a huge drawing feature for resale.  Community Complex, pool, activity courts or a seniors activity centre can be ideal amenities.
  3. Lot Size– This is something that you can’t easily change.  If you have a family size house but the lot is extremely small it will be difficult to sell.  Or if you have a single story 2 bedroom suited to mature adults but the property is on 1 acre it will be a challenge for them to maintain.  Think strategically about who your buyer is in the long run.
  4. Number of Bedrooms– Homes with three or more bedrooms tend to sell faster simply because they are suitable for a broader range of buyers.  Whether you need that many bedrooms or not, often times you can convert one into a home office, a guest room or additional storage.
  5. Storage– Speaking of additional storage, it seems like we are always looking for more storage!  Open concept homes today seem to lack much needed storage so ensure you consider where your seasonal clothes will go or vacuum, toiletries, and even your historical financial paperwork.
  6. Fundamentals– Consider your HVAC, water heater and the age of your roof before you purchase.  When you are ready to sell, what condition will these items be in or are you going to have to put new ones in?  This expense can add up quickly so be smart and realistic about your long term living plan.

These are some great tips to consider and there are always more to consider but working with an experienced Realtor will give you added peace of mind when making this type of decision.

If you are considering buying or selling or know someone who is, I would love the opportunity and hope you will consider my services.