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Judging The Resale Potential Of Your Home

By William Jones

It can be difficult debating whether to sell your house while looking for a new one. And when you move homes, you want to stay there for a long, long time. But based on figures, most people buy and sell their homes in a span of seven years. That’s why it is advisable to consider not just the present value but also the resale value of your new home.

The average homeowner purchases a total of seven homes from adulthood to old age. Homeowners take many things into consideration – mainly the school system for their children, convenient distance to shopping locations, as well as the number of bedrooms and bathrooms. Homeowners’ needs do change, though, in the long-term. First-time homeowners usually settle on something they can use to help them buy their next home. Oftentimes, the next house is larger or in a better neighborhood.

Equity building potential and the best possible resale price are the two main things you need to keep in mind if you’re in the market to buy a new home for yourself.

Keep these determinants in mind when trying to estimate your home’s resale value. The area where your home is located is very important. Monitor the housing market in certain areas, and when activity slows down, look for areas that are gaining in popularity. Do your research and scout for neighborhoods to see if the real estate industry is booming and if there are plans for the future.

Consider the buying demographic. They may be young men and women fresh out of school, families or retired citizens. Young professionals are bound to go for neighborhoods that are close to work and/or the nightlife, while families may go for quieter neighborhoods with nice school systems.

The last thing to consider is whether any changes need to be made to the property. Since the goal here is to build equity, you might as well go for a home that needs a little work around the edges. Changing some things in your new home can make a big difference in the long run, but make sure not to implement or even think of changes that are outside of your budget or capabilities.

Finding the perfect home can be very rewarding, especially if you find something with great present and potential future value.

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Article Citation
MLA Style Citation:
Jones, William "Judging The Resale Potential Of Your Home." Judging The Resale Potential Of Your Home. 22 Aug. 2010. uberarticles.com. 23 May 2017 <http://uberarticles.com/real-estate/judging-the-resale-potential-of-your-home/>.

APA Style Citation:
Jones, W (2010, August 22). Judging The Resale Potential Of Your Home. Retrieved May 23, 2017, from http://uberarticles.com/real-estate/judging-the-resale-potential-of-your-home/

Chicago Style Citation:
Jones, William "Judging The Resale Potential Of Your Home" uberarticles.com. http://uberarticles.com/real-estate/judging-the-resale-potential-of-your-home/

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