As you start looking for a new home, you probably aren’t even considering your NEXT move . You probably just want to get this one taken care of! But it is always prudent to shop for a new home with an eye on potential resale value down the road. No one can predict what the future will bring , but here are some simple things you can look for:
- Lot Size and Shape: Larger Lots are beginning to add a premium to the price. This is especially true of new construction. And as a buyer, do not pay a premium for someone else’s landscaping efforts. Landscaping can typically decrease the time on the market but not increase the overall price by much.
- Neighborhoods: Pay special attention to the yard upkeep, neighborly involvement and the amenities. The best strategy is always to buy the smallest or lowest priced home in the best neighborhood. You can get community reports from me here or search all the communities in Georgia on my website .
- Kitchens and Baths: A spacious, updated kitchen is among the most important features in a home. Updated baths are also important.
- Basements: Although most in Georgia remain unfinished they can increase the resale value and decrease the time on the market. A finished basement can add an additional $50k to $100K depending on the neighborhood and the level of finishing work (i.e. Theatre Room with equipment staying, full kitchen, extra bathrooms). In a down market, Basements may only be worth $10K, but they can definitely speed up the sale!
- Backyard Features: Decks and patios generally yield almost a dollar-for-dollar return. But swimming pools are not generally great investments, however, they will decrease the selling time significantly. Typically buyers put a $10K – $20K premium on in ground pools, far less than what it cost to put in. Above ground pools actually decrease the home’s value in some areas as well.
As you can tell most items may not add directly to the value, but all these items will help the home sell much, much quicker. You’ve got to be the best of the best in a down market.
I’d be happy to answer any questions you have and show you properties that meet your needs. Please call (770-374-4667) or email me when you are ready to look for a new home.
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