When you are buying a home in the Wichita, Kansas area, you want to be sure to keep the resale value in mind.
Buying a home is one of our biggest investments and some of us are doing that more than once during our life.
Our living habits have changed drastically over the years. Now most of us don’t live in one house for our whole life like many people used to, especially those from previous generations.
The dynamic lifestyle and economy of today calls for flexibility, mobility, and frequent changes. People are following their jobs or careers even if it means moving from one side of the country to another and here in the Wichita area.
The way we treat things in our culture is reflected by the fact that we replace them quickly and often. Houses are no exception to this, which means you should buy a house with good resale value for your future needs.
When looking to buy a new home, the most important three factors are location, location, and location. Indeed it is the first thing you should consider when buying your dream house. So what makes a good location?
There are some general things that help with a good resale value that you should consider like:
- Does the neighborhood have easy and fast access to the schools, shopping centers, church, and anything else specific to your family.
- Choosing a house that is elevated above the surrounding area has two benefits: good air flow and an improved view.
- Ideally you would like to have fewer neighbors surrounding your house. However, the size of a neighborhood has no impact on home value or desirability unless it is exceptionally crowded with an excess number of homes all located in very close proximity together.
- A house that is located at the end of a street will suffer fewer noises from neighbors and their guests. This peace can be even better if the street is also a dead-end since it forms an isolation barrier for any sound traveling in either direction, allowing people to enjoy quietness without expending energy on noise reduction techniques such as closing doors or installing extra insulation materials.
- The size of the lot, it’s shape and the square footage of your home/house itself.
- If you’re in an area where there are many families with children, it is best not to have busy streets face into your yard as children will enjoy playing outside far more when they don’t risk being hit by cars every few seconds or so.
- There are other environmental aspects to consider with respect to person preference.
- What school district do you prefer?
In addition to the external considerations, there are many important internal elements that can make resale value be higher and buyers are almost always looking for, such as:
- Closets, lots of closets and with as much additional storage space as possible.
- Light and bright – Homes with lots of natural lighting are very popular.
- Split bedroom plans, with bedrooms on each end of the home, are increasingly popular with buyers.
- If you live in a scenic area, having a view can help you sell.
- Plenty of bedrooms, baths and rest rooms.
- Large and convenient kitchen with as many cabinets and cooking space as possible.
- The tendency to work from home calls for a suitable room to be set as a home office.
- Laundry and dryer machines located at the same level as the bad rooms.
- A spacious basement is always a plus.
Features to avoid if you want a good resale value
- One-bath homes sell for significantly less than homes with at least two baths and they take longer to sell.
- Electric baseboard heat and electric ceiling heat are not as desirable as central heating systems. A fireplace in the living room is a plus.
- Tubs and showers in outdated colors, or scratched from years of improper cleaning, might be hard to change without ripping out doors or walls.
- Popcorn ceilings date a house, you know, those bumpy ceilings that were so popular in the 1970’s.
Your first objective is to buy a home that’s right for you, but do consider its resale value before you make the final decision, especially if you know you’ll move again within three to five years. A careful purchase now will help give you extra funds to move up with the next time you buy a home.
Home Inspections Can Help You Buy A Home With A Good Resale Value
Yes, that was plural. 🙂
The first inspection should be your own basic walk-through inspection.
The second should be a professional whole-house pre-purchase home inspection.
We cannot emphasize enough, the value and necessity of an extensive professional home inspection. Many homebuyers, either in the desire to save on the cost of a quality home inspection or due to simple ignorance, have spent enormous sums of money repairing items that any good home inspector would have been able to point out.
Any offer to purchase you make should be contingent upon (subject to) a home inspection with a satisfactory report.
DO NOT let anyone, not the agent, not your family, or friends, and ESPECIALLY NOT the seller, dissuade you from having the property thoroughly inspected.
Not only will you sleep much sounder after you have moved into the house, but a professional home inspection can also give you an escape hatch from a contract on a defective house.
If the contract is written contingent on an acceptable home inspection report, any defects in the home must be either repaired or monetarily compensated for. If you are not satisfied, you have the option to cancel the contract.
You can see the Realtor.com article “7 Promising Signs the Home You’re Buying Will Have Good Resale Value” if you would like some more information on buying a home with a good resale value.