While you intend to keep an investment for years to come, that isn't always the case. There will come a time when you will sell the property you are just now buying. With that in mind, it is important to think resale value now. How can you tell if the investment you're thinking about buying has good resale value? Here are some signs:
Location is always the number one seller. Make sure the property you are buying is located in a prime, but quiet neighborhood. What else should you look for? Signs of a great neighborhood include the following: top schools, nearby entertainment and dining options and more.
Ensure the home’s systems are either new or in good standing at the time of purchase. While it is expected to have to fork out some money for repairs while owning the property, it is said that the sooner you have to make them the more expensive it is for you. That being said, ask an inspector to take a close look at the major home systems and give you a rundown of the future health of the home. Note that costly items to fix include the roof, water heater, HVAC system, windows, foundation, etc.
Whether you have kids or not, the school district matters – especially when it comes to the resale value. Do your research and ensure the property is located in one of the area's top school districts. Great school districts in the Austin area include Leander ISD, Lake Travis ISD, Round Rock ISD, Eanes ISD, Liberty Hill ISD and more.
A Well-Designed Floor Plan
A floor plan that is well-designed doesn’t just mean open. While open is highly desirable, you should also look for a family-friendly plan that has at least three bedrooms (maybe even four) and multiple bathrooms.
Even with these signs, good resale value is never a sure thing. Keep that in mind, both now, when you are buying the property, and when it comes time to sell.
Do you have any questions about buying in Austin’s fast-moving real estate market? Give our team a call. We are always available to help!