If you are looking to buy a new home, try to find a home that will have a good resale value down the road. This concept applies to first time home buyers who are just looking for a “first home" as well as home buyers who plan on living in the home for the rest of their lives. It is important for both types of home buyers to have an exit strategy so that if you for some reason needed to sell your home in the future, you would be able to. This exit strategy is even more relevant with the cooling housing market we are experiencing. There are seven basic areas to consider for resale.
1) Bedrooms and Baths: Most people who are looking for homes want at least 3 bedrooms and 2 bathrooms. If you find a 3 bedroom and 1 bath house that you love, do not completely rule it out simply because it lacks the second bath. You can always add it on to the house later, but it will probably cost more to add it than it would have cost to just buy a house with 2 bathrooms to begin with. So, just get accurate estimates from contractors so that you can compare house prices. Also, buying a house with more than 3 beds and 2 baths is a good idea, but do not feel the need to buy that extra room simply for resale if you do not need the extra space.
2) Kitchens: Look for spacious kitchens that are open (and preferably with a window). If a kitchen seems outdated (older appliances, bad color schemes, etc.), then it may be a good idea to make a list of repairs along with price estimates when you compare homes to buy. Buyers want functional kitchens with nice appliances.
3) Garages: In Charleston, SC, it is harder to find homes with garages compared to some other parts of the country. However, we have so many clients who make this option a required part of their home search criteria. The more searches you can make your home fall under, the more likely your house will sell. So, try to get a house with a garage (even if it is just a one car garage).
4) Lot sizes: Many clients make minimum lot size requirements the way they make garages a requirement in their home search. Depending on the area, large yards can be hard to come by. But, people always want that extra room and privacy. So, look for homes with at least .2 acres.
5) Fireplaces: Having a fireplace is not as important as having a garage, but it is definitely a desirable feature and can actually be a selling point for a house. Wood burning versus gas logs is always a mixed debate, so just look for a fireplace in general.
6) Square Footage: Many of our clients make minimum square footage requirements in their home searches. Look for homes with at least 2,000 square feet. Rooms over the garage (sometimes called a ROG) are also great if they are finished (then they are called a FROG).
7) Swimming Pools: So many neighborhoods either have community swimming pools or are close to public pools. If you really want a home with a private pool, look for homes that already have them built. Paying a contractor to build a new pool will never give you a full return on your investment – instead you will lose money. It would be better to use the extra money towards buying a nicer or larger house when it comes to resale value.
The first step that a person can do is to read some books on how to buy a house. Go to your local bookstore and find some books that will tell you how to go about in purchasing a home. There are many books available that can help you be more informed of the process and will help reduce the anxiety of the situation.
Find a real estate agent that can help you find the home that you want. Many of these agents know what is involved in the process of finding a home and they are there to help you. Ask some of your friends who they recommend and try contacting a real estate agent.
Have your finances organized. Make sure you have an idea on what you can afford and also make sure that your credit is good. The financial aspect of buying a home does not have to be scary if you have good credit and a budget. Some people may buy a house that they cannot afford and this can cause problems down the road. Determine what you can afford and develop a budget where you will be able to keep up with your mortgage payments.
Try to get a friend who is more experienced to help you. Chances are very good that you know someone who has purchased a home. You could ask them for their assistance and ask them questions on what to do and what not do. Having a friend who can assist you along the way can really help reduce the anxiety of purchasing a home. Again if you do not know anyone then you will need to read up on the process of buying a home.
Determine what kind of home you want. It will save you a lot of time in the long run if you know what you are looking for. The last thing you want is to waste your time looking for houses that you know that you will not like. Sit down and think about the kind of house you are looking for and convey this to your real estate agent. This will save you a lot of time and effort.
Purchasing a home for the first time does not have to be a bigger deal than it has to. The important thing is to be informed of the process of purchasing home, determine your interests, and have your finances under control. There are many people who are in the same position you are in so do not get overly stressed about finding a home. It will take some work, but eventually you will find a home that you will like. You just have to be patient.
Both Lee Keadle & Stan Popovich are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Lee Keadle has sinced written about articles on various topics from Liposuction, Home Buyers Guide and Real Estate. Lee has worked with many buyers . He specializes in. Lee Keadle's top article generates over 9900 views. to your Favourites.
Stan Popovich has sinced written about articles on various topics from Panic Attacks, Travel and Leisure and Real Estate. Stan Popovich is the author of "A Layman's Guide to Managing Fear? an easy to read book that presents a overview of techniques that are effective in managing persistent fears and anxieties. For additional information go to:. Stan Popovich's top article generates over 12100 views. to your Favourites.