Posted by: Bill & Gayle McCord | March 31, 2010

Resale must-haves

Don't just look at your house- check out the local scene and surrounding area.

Hopefully you’re considering taking advantage of the extended and expanded Home Buyer’s Tax Credit.  If so, you’re thinking about buying a new home.  As you peruse properties, there are many things you ought to consider.  First and foremost: assume you’ll have to sell this house regardless of how much you love it now.  That will make you think about resale- how easy will the house be to sell to someone else?

Resale Must-Haves

  • A good community and a stable economy. Take a drive around a prospective purchase.  Besides a cute house you connect with, there should be a healthy mixture of commercial and business districts that provide local jobs and a source of income that the city can use to upgrade and maintain roads and city services.
  • Good schools. Regardless of your own need for public schools, consider that your future buyers might have school-aged children.  When checking out schools (for yourself or otherwise), ensure that they are well-maintained, not overcrowded, and close, but not too close  (i.e. not next door).  You can also check to see how students performed on standardized tests.
  • Amenities, such as a great library or well-kept community center.
  • Property taxes may be higher in one place than in another nearby city, which can sometimes affect whether potential home buyers view a community as a desirable place to live. What typically happens is that buyers choose not to purchase a home in an area with higher taxes.  Seems legit, but it’s not always the best choice.   Higher property taxes often mean better extra’s, such as newer and more modern schools, roads, and community services.  Furthermore, often the “cost per square foot” of homes is lower in cities that have higher property taxes, which essentially means you can buy a bigger house for less money. The monthly costs might end up being the same since the mortgage payment may be lower and the property taxes a bit higher.  Just something to consider.

Some of the previous tips may be difficult to negotiate on your own, especially the last one.  This is where we come.  Bill and I would love to help you get the most for your money this purchase and the next.  Don’t hesitate to contact us, even if you’re just thinking about buying.

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