Buying with Reselling in Mind
If you know that the home you are buying my have to be sold within a few years, you have a few extra items you need to pay attention to prior to purchasing. This is particularly true if you’ll need to sell within a short time period due to a job transfer or similar pressing requirement.
So, while these suggestions are true for everyone that will want to resell their homes eventually, if you know that you’ll have to sell at short notice, you’ll want to add these suggestions to your home search.
Pay attention to the view:
Homes with a pleasant view out the windows will sell more quickly and at a premium to homes with a less pleasant view. While you should buy a home that you plan to live in with your own pleasure in mind, when reselling, what the buyer sees out the window has an impact on the sale.
Avoid views with the following:
- Water towers — in may parts of the country, you cannot avoid a water tower, but if the angle of the view can avoid having the water tower in the direct line of sight, your resale value will be higher and your home will sell more quickly.
- Power lines — for the same reason as the water tower, a view of power lines can impede a quick sale. In addition to the view aspect however, many people subscribe to the belief that high voltage power lines emit electromagnetic radiation that can cause illnesses and cancer. While much of the research is inconclusive, and power lines emit extremely low frequency (ELF) radiation (according to the American Cancer Society), the belief that they could cause a problem will hinder a quick sale.
- Railroad tracks — this is especially true for freight trains, but any home with a view of tracks might have in impediment to a quick sale.
- Retail establishments — if your home backs up to or is across the street from retail stores, restaurants, bars or other businesses, you may face a slower selling experience. For example, while there may be a high block wall between your backyard and a car wash, the sounds of the dryers or the potential for extra traffic into the neighborhood may hinder a quick sale
How do you avoid these potential pitfalls?
When you look at a home to buy, check the view from EVERY window. Take the time to visit the property at different times of the day, especially if there are retail establishments nearby so that you can gauge the traffic and noises that that may come from them.
What if your home already has a water tower or power line in view?
When you’ve purchased a home and did not buy with the view in mind, or if the view has changed, there are some things you can do.
- Plant trees — If you can plant a tree that adds beauty while blocking an unfavorable view, do so.
- Mitigate sounds — if you can hear noises from nearby retail establishments, railroad tracks or nearby busy streets or freeways, consider replacing the windows with more insulated ones and adding insulation to the walls for soundproofing can overcome some of these negatives.
As always, let your real estate professional know if you’ll potentially be needing to resell the home within a few years as we can best advise you for the local market.
Compliments of Virtual Results