Homes of New Hampshire Realty



Posted by Homes of New Hampshire Realty on 1/17/2018

Many of us will move home several times throughout our lives. Whether itís relocating for work, needing a bigger house for children, or a quiet place to retire to, itís likely that the home you live in now wonít be yours forever.

 As a result, many homeowners wonder what they can do to ensure their home will have a high resale value when the time comes to move on.

 The good news is that there are a lot of things you can do now that will give you a good return on investment when it comes to selling your home later. However, there are a few factors that affect a homeís valuation that are out of your control. Weíll talk about all of those factors below. So, read on for a list of the factors that affect your homeís resale value.

 The age of your home

Your house may not complain about it, but it isnít getting any younger. Homes tend to slowly decrease in value over time. A home built in the late 1970s, even if itís well taken care of, most likely wonít sell for the same price as a 15-year-old home.

There is one exception to the rule, however, and that is historical houses. Homes that are a century old can sell for top dollar because of the craftsmanship and history that the house contains.

Admittedly, this is a niche market, as many people just want a safe and efficient home to live in. However, there are some homebuyers who will put in a bit of extra work around the house for the chance to live inside of a piece of history.

Smart renovations

When youíre upgrading your house itís important to remember how that upgrade will pay off years down the road. Some renovations will almost always give a good return on investment such as a finished basement or attic and improving efficiency via added insulation or replacing windows.

Renovations that match a very specific decorative taste or style could come back to haunt you. This includes bathroom sinks, kitchen cabinets, countertops, and other expensive projects that are subject to the next ownerís taste. While these upgrades can give a good return on your investment, theyíre more likely to be successful if they fit the current trends of style and craftsmanship.

Neighborhood and town

One of the factors of home valuation that you have little control over is the town and neighborhood the house is located in. If there are closed down businesses, foreclosed and deteriorating homes then potential buyers might be turned off to the neighborhood.

Similarly, the town you live in has a lot to do with how much people are willing to spend. If you have easy access to interstate highways and large cities, highly rated schools, and good local infrastructure, then buyers are likely to take these into consideration when making an offer, as the average cost of a home in your town is likely higher than some surrounding towns.




Tags: home   resale value   valuation  
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