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Why New Home Buyers Need to Think About Resale Value

Why New Home Buyers Need to Think About Resale Value

May 15, 2015 Company News, Real Estate News
OBREC News home resale valueWhen is the best time to start thinking about selling your home? Believe it or not, there is no such thing as too soon — and home buyers may want to think about what will happen when they ultimately sell a house, well, around the same time that they are buying it. Here are some ways to purchase an existing home that will ultimately be a sound investment: Don’t Choose the Number One Spot While you may be tempted to choose an area that is bustling with activity or a neighborhood where homes already have steep values, this is not necessarily the best way to go. Local real estate agents agree: whether you are purchasing a new home or investing in rental property, it is often best to pick a location nearby top valued homes. By purchasing from an adjacent area, buyers can typically score homes for relatively low prices, and — once the area develops — sell these homes at a much higher value. The vast majority of homeowners will live in one of the existing 115 million houses or one of the 1.5 million new homes being built each year for an average of 13 years, giving the property plenty of time to accrue value. If All Else Fails, Look for a Starbucks What are the best questions to ask real estate agents? Apparently, when choosing a real estate agent, you want to go with someone who knows where the nearest Starbucks is. Yes, really. Homes and neighborhoods with a Starbucks nearby generally have a higher value. And, with Starbucks unlikely to go out of business anytime soon, homeowners can generally count on this value boost at the time of purchase — and when they eventually sell their homes. Whether you are on the market for a new home or looking to profit from investing in luxury homes, there is a right way and a wrong way to do it. Purchase properties based on their potential for growth, and remember: one of the best questions to ask real estate agents is, “Is there a Starbucks around here?”