Purchasing a home can be one of the biggest investments a buyer makes. In order to protect the investment there are key attributes to look for to ensure a house retains and even grows in value.
1.) Location, location, location. Identical homes will increase or decrease in value based on location. You can remodel your home but you can't (usually) move it. A good location is usually within a top-rated school district, close to outdoor recreation and nature, offers a nice view (cityscape, body of water, mountains, greenbelts, or golf courses), close to shopping and entertainment, near public transportation, hospitals, and jobs. Red flags to watch for when browsing property are proximity to industrial and commercial zones, railroad tracks, flight paths, power plants, septic treatment plants, transformers, and major power lines.
2.) Avoid buying a home with a swimming pool. It will decrease prospective buyer traffic when it comes time to resell.
3.) Don't buy the nicest house in the neighborhood. If you do it will be harder to sell later on, many studies have shown that the smallest home in the neighborhood has the greatest resale price.
4.) Consider the floor plan. An open, flowing layout with multiple bathrooms will be the most appealing once you decide to sell.
5.) Three bedrooms or more. Most buyers won't look at a home unless it has at least three bedrooms.
If you follow these five easy rules you will protect your home investment when it comes time to put it back on the market.