Sunday, May 3, 2009

What Should I Look For In A House I Might Have To Sell In A Few Years

Real Estate Corner…

Q. I’m looking for a house with good resale value. What should I look for in a house that I plan to sell within a couple of years?

A. If you’re looking to buy a house to turn a profit, or “flip” in a short period of time, do the research on the current home buying market trends upfront. First, find out what neighborhoods are currently the most sought-after in your city. Where is there new growth or new planned communities? Look at the potential buyers market? Are buyers mostly young families, retirees, or singles?

Ask a real estate agent for areas showing the greatest short-term growth and other positive features, such as neighborhood amenities, average annual price increases, and available parks and recreation.

Look at potential houses that need inexpensive repairs: new paint, new carpet and tile, skylights, new appliances, and updated landscaping. Avoid any houses that have either functional or mechanical obsolescence (one bath, poor floor plan, or houses requiring costly plumbing or electrical repairs).

If you are buying or selling a home and need competent and caring representation, please call me at 816-875-1661.

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