How to Ensure Your First Home Purchase Has Great Resale Value
Tuesday, August 13, 2019, 6:00 AM | Leave Comment
Even if your home has quite a bit of sentimental value, that property needs to be thought of as an investment.
When it comes time to sell that investment, you want to be absolutely sure that you have done everything in your power to boost its resale value and improve its marketability.
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Look for Structural Damage
Well before you even consider making an offer on a home, you must inspect every inch of it for any signs of structural damage. Some minor cosmetic issues shouldn’t be a problem, but you need to be wary of any problems with the foundation, walls, or roof. Many real estate agents suggest that first-time buyers work with certified home inspectors. Scheduling a professional home inspection could end up saving you an incredible amount of money in the long run.
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Invest in a Home With Historical Value
If you are purposefully buying the property as an investment, then you might want to take a look at homes that have historical value. That being said, purchasing a home in a historic district is going to be a major undertaking, and you need to be ready for quite a few challenges. Depending on the type of home that you are buying, the city might have very specific regulations regarding its upkeep and appearance.
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Update the Plumbing
Once you have been handed the keys to your new home, you should consider upgrading the plumbing right away. Even if the pipes and sewage lines are still in good shape, the faucets and fixtures might be outdated. Switching over to low-flow fixtures could increase the value of your home while reducing your monthly utility bills. Those fixtures are very easy to install, and you should be able to complete this project in just a few hours.
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Maintain the Yards
Your home’s resale value is going to take a hit if you let your yards fall into disarray, and that is why need to come up with a long-term landscaping plan. Regularly mowing the lawns and trimming the bushes will greatly improve your home’s curb appeal while boosting its value. Maintaining your yards will reduce your risk of an unwanted pest infestation as well.
In addition to these few tips, you also need to make sure that the home’s primary systems remain well-maintained. Scheduling regular service calls with HVAC contractors and plumbers will reduce your risk of a catastrophic breakdown that ends up costing you huge sums of money.
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Meghan Belnap is a freelance writer who enjoys spending time with her family. She also enjoys being in the outdoors and exploring new opportunities whenever they arise. Meghan also enjoys researching new topics that help to expand her horizons. You can often find her buried in a good book or out looking for an adventure. You can connect with her on Facebook and Twitter.
