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Buying a House With A Good Resale Value

It's one of our biggest investments and some of us are doing itmore than once during our life. Like many things in our lifethat have changed dramatically, so did our habitation practices.Most of us don't stay in one house for the full duration of ourlives as it used to be for many people in previous generations.Our modern dynamic life style and economy, call...

s forflexibility, mobility and frequent changes, People are followingtheir jobs and careers even if it means moving from one side ofthe nation to the other.This tendency is in line with our culture of consuming society.We replace everything faster, we treat cloths, cars (some justlease), refrigerators and our dwellings like fashion items withshort longevity.When we decide to buy a house we need to think in terms of sortto medium range periods of time and that should bring us toconsider the resale value of our home in the future.Buying a home with good resale value might take a little longer,and it might take a bit more work on your part, but you'll lovethe payback later, when it sells quickly and puts extra money inyour bank account.The first consideration should be your family needs but it'scleaver to keep an open mind about what might suite futurebuyers as well.The ...

...most important three factors are: location, location andlocation... :-) Indeed, it's first thing to consider whenlooking for a home. So, what makes a good location?There are some general elements which are obvious like:- Does the neighborhood have easy and fast access to theschools, shopping centers and country club.- It's wise to pick a house that is located relatively elevatedabove the area, that can provide two advantages: a flow of goodair and a nicer view. - How many neighbors are adjacent to you and/or across you inproximity, off course the less the better.- A house located at the end of the street will suffer lessnoises from the neighbors and their guests. If the street is adead end it's even better. A corner house may have more lightand air.- The positioning of the house towards the north if it's a warmarea as opposed to the south in cold areas. In general, a ruleof thumb and this one is general and found right to manylocations around the world, as strange as it may sound, thenorthern neighborhoods are usually more desirable than thesouthern ones exactly as the western ones are more prestigiousthan the eastern ones.- The size of the lot, its shape and the square footage of thehouse itself. If the majority of buyers in your area are youngfamilies with children, consider a house with a large yardthat's not fronted by a busy street.- There are many other environmental aspects to consider withrespect to personal preference like a green agricultural areavs. urban area, quality of schools and other social services andfacilities. In addition to these external considerations thereare many important internal elements that can make a housequality higher and buyers are always looking for, such as:- Closets, lots of closets and with as much additional storagespace as possible. - Light and bright - Homes with lots of natural lighting arevery popular. - Split bedroom plans, with bedrooms on each end of the home,are increasingly popular with buyers. - If you live in a scenic area, having a view can help you sell.- Plenty of bedrooms, baths and Rest rooms.- Large and convenient kitchen with as many cabinets and cookingspace as possible.- The tendency to work from home calls for a suitable room to beset as a home office.- Laundry and dryer machines located at the same level as thebad rooms.- A spacious basement is a plus.- One-bath homes sell for significantly less than homes with atleast two baths and they take longer to sell. - Electricbaseboard heat and electric ceiling heat are not as desirable ascentral heating systems. A fireplace in the living room is aplus.- Tubs and showers in outdated colors, or scratched from yearsof improper cleaning, might be hard to change without rippingout doors or walls. - Popcorn ceilings date a house, you know,those bumpy ceilings that were so popular in the 1970's.Your first objective is to buy a home that's right for you, butdo consider its resale value before you make the final decision,especially if you know you'll move again within three to fiveyears. A careful purchase now will help give you extra funds tomove up with the next time you buy a home.Home InspectionsDepending on the type of financing you choose, there should beeither 2 or 3 separate inspections on the home you want topurchase. The first should be your own basic inspection (see thebottom of this page for what to look for), the second should bea professional whole-house inspection by a reputable person.Should you select a government loan (FHA or VA), the thirdinspection should come at the time of the appraisal, which tosome degree amounts to a "mini-inspection." Do not, however,rely on this appraisal as your only inspection of the property!We cannot emphasize enough the value and necessity of anextensive home inspection. Many home purchasers, either in thedesire to save the $250 to $500 that a good inspection costs, ordue to simple ignorance, have spent enormous sums of moneyrepairing items that any good home inspector would have pointedout. Any offer to purchase you make should be contingent upon(subject to) a whole house inspection with a satisfactoryreport. Do not let anyone--not the agent, not your family orfriends, and especially not the seller--dissuade you from havingthe property thoroughly inspected! Not only will you sleep muchsounder after you have moved into the house, a professionalinspection can give you an escape hatch from a contract on adefective house. If the contract is written contingent on anacceptable inspection, any defects in the home must be eitherrepaired or monetarily compensated for. If you are notsatisfied, you have the option to cancel the contract....