Buying Real Estate With Resale Value
These are the top 4 things to consider when buying a home with resale value. Of course cosmetic details will always be a subjective factor to consider, but as a general rule of thumb you want to make sure you have the greatest chance to increase your real estate investment resale value when you decide to sell by considering all things.
When choosing a community for your real estate purchase, it makes the most sense to buy a home in a city with a viable and stable economy. Five, ten, or even fifteen years from now – when you want to sell your home – you can have a reasonable expectation that your community will still be a desirable place to live.
In addition to residential neighborhoods, there should be a healthy mixture of commercial and business districts. These not only provide jobs to the local residents, but also add an income source that the city can use to upgrade and maintain roads and city services.
In fact, you should take a drive and see how well the community is maintained. You have probably heard of “pride of ownership” when referring to an individual home or an automobile. Look to live in a city that demonstrates community pride, as well.
Local Government Services
In addition to community pride, check on the services provided by local government. One example would be the local library system. Are there several library branches? Do they stock a good selection of books, including recent best sellers?
You should also look into local crime statistics and see how the city compares to the national average and other local communities. Is the police force effective and responsive to community needs?
Another area of inquiry is community services. Do they sponsor community events, such as an annual parade? Are there activities available for children, teenagers and senior citizens?
These things matter because they show how the tax dollars are being spent and used to benefit the community.
Even if you do not have school-age children and do not intend to have children, you must pay attention to the local school system. That is because when you sell real estate, many potential buyers will have concerns of this nature.
There are also school reports available for free on the Internet.
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Property taxes may be higher in one town than another nearby city. This can sometimes affect whether potential home buyers view a community as a desirable place to live. Often, they will choose not to purchase in a community with higher taxes, though this decision is not always justified. Higher property taxes often mean newer and more modern schools, well-maintained roads, and bountiful community services.
In addition, you will often find that the “cost per square foot” of homes is lower in cities that have higher property taxes. This means you can buy a bigger house for less money. Since the mortgage payment may be lower, but the property taxes a bit higher, the monthly housing costs may be approximately the same in each city.
With special consideration, you can find your dream home and give yourself the greatest investment opportunity too. Buying a home is probably the most important investments you’ll ever make. Don’t leave it to chance. Contact a real estate expert now for a better understanding of the local market and homes for sale in Beverly Hills. Contact LeMark Realty for ALL your real estate needs. Call 877-773-7331 today!