How to Buy a Home that is Guaranteed to Increase in Value

You spent years saving for a down payment. You have worked hard on improving your credit score, and now you are finally ready to buy your dream home. You are on your way to an open house, hoping to find the perfect home that would match your needs and lifestyle.

Even if you’re looking for your forever home, you want to buy a house that is guaranteed to increase in value over time. So, how do you spot a home that goes up in value?

Here are some factors that could affect a house’s resale value.

Location

Houses are easy to renovate and repair, but you can’t transfer it to a different location. That said, you need to think long and hard about the location you choose. You want to buy a house in a neighborhood with a good reputation and excellent schools nearby. When the time comes that you’re ready to sell your home, parents with school-aged children will be more than happy to buy your home.

Also, it makes sense to pay attention to the nearby houses. If you see a number of for sale signs, then take that as a hint. There must be a reason why homeowners are selling their house.

Curb appeal

Everyone knows how important curb appeal is when selling a home, but what difference does it make if you’re on the other end of the spectrum?

Here’s a secret. Most buyers tend to pass up on houses that do not make a good first impression, but if you are willing to give the house a face lift, you may get a great deal hiding behind those overgrown bushes. Plant some flowers and give the external a new coat of paint. The house will not only look better, it can also boost the house’s value.

Condition

Whether old or new, the home’s value will be higher if the property has been well taken cared of.

Before signing on the dotted line, we suggest that you hire an inspector in order to assess the house’s condition. If the report came back suggesting that the house has some structural problems, mold issues, pest damage or water damage, then you might want to walk away.