| There are many factors which should be | | | | the resale value of a home. |
| considered when purchasing a home, especially if | | | | Local Government Services. The services |
| it's a first home. One of those considerations | | | | provided by the local government can have a |
| should be the resale value. Many home-buyers | | | | huge impact on the sale of a home. Local |
| anticipate moving on to a bigger or better house | | | | governments are responsible for fire protection, |
| in the future. The resale value of a home could | | | | police protection, road maintenance, and often |
| make a great impact on how quickly it sells when | | | | sanitation and sewer services. They can also be |
| it comes time to move out and move on. While | | | | responsible for more fun stuff like parks services, |
| there are no guarantees that a home will grow in | | | | public libraries, and city sports teams. Smaller |
| value, there are steps which can be taken to | | | | towns will have fewer amenities like these and will |
| maximize its resale value when it is time to move | | | | tend to have some services privatized. In |
| on. | | | | particular, privatized fire protection services or no |
| One feature which can have the greatest effect | | | | local police force presence can be a turn-off to |
| on the resale value of a home can be summed | | | | potential home buyers. |
| up by the popular real estate phrase, "Location, | | | | Schools. Even home buyers that do not have |
| Location, Location." This expression has been | | | | school-age children or do not intend to have |
| tossed around a lot, but what's the big deal, | | | | children must pay attention to the local school |
| really? Location is extremely important if there is | | | | system. When it is time to sell the home, many |
| any intention to resell a home later. The idea is to | | | | potential buyers will have kids or plans for kids. |
| purchase a house that will attract to other | | | | One of the best resale factors in regards to |
| home-buyers in the future. Taking the time to | | | | education is school choice: either multiple available |
| carefully choose the best place can minimize | | | | public and charter schools or private school |
| losses in a down market, and maximize potential | | | | options. Overcrowded schools could be a |
| profits. Location is more than a place on a map, | | | | detriment. Plans for new school construction can |
| however. Here are some things to think about | | | | be a boon. Additionally, schools with good scores |
| when choosing where to buy a home. | | | | on standardized tests will be preferable. |
| The City or Town. Before a home can be chosen, | | | | Property Taxes. If resale value is important, |
| the city or town needs to be picked. Recognize | | | | property taxes must be taken into consideration |
| that some locations are more desirable than | | | | when choosing the location of a home. Property |
| others and for different reasons. Cities with | | | | taxes may be higher in one town than another |
| abundant employment options or public | | | | nearby city. This can sometimes affect whether |
| transportation appeal to a wide range of people. | | | | potential homebuyers view a community as a |
| Homes in upscale places are nice but tend to a | | | | desirable place to live. There are two sides of the |
| specific group of possible home buyers. Homes in | | | | coin to consider, however. Lower property taxes |
| small towns, unless they are within reasonable | | | | could mean a lot of savings, but often at the cost |
| driving distance of larger cities, have a smaller pool | | | | of the government services described earlier. On |
| of potential home buyers. Carefully choosing the | | | | the other hand, higher property taxes obviously |
| area in which a home is purchased can be a huge | | | | mean a resident will shell out more money, but |
| step in maximizing potential future resale value. | | | | they also often have the benefits of newer |
| Economic Stability. Big city or smaller town, when | | | | schools, well-maintained roads, and access to |
| choosing a community, it makes sense to buy in | | | | community services. |
| at a location with a viable and stable economy. In | | | | The Neighborhood Sweetspot. Most homes are |
| addition to having residential neighborhoods, there | | | | located in residential areas, with the exception of |
| should be a healthy mixture of commercial and | | | | places like lofts and condos in large cities. Within |
| business districts either within the town or nearby. | | | | these residential areas, some lots are more |
| This not only ensures that there are plenty of | | | | desirable than others. For example, a house in the |
| jobs available, but also adds a source of income | | | | center of a neighborhood tends to be more |
| for the city to upgrade and maintain roads and | | | | attractive than a home on the edge of a |
| city services. The long and the short of it is, when | | | | neighborhood because that's where busier streets |
| it is time to sell the home in five, ten, or even | | | | are inclined to be found. Busy streets are not kid, |
| fifteen years in the future, the area should be a | | | | pet, or pedestrian friendly. Another thing to avoid |
| desirable place to live. | | | | is purchasing a home along a street that is used |
| The Community. What truly makes up a | | | | as a shortcut between two busier streets. Corner |
| community is a variety of factors. Concrete | | | | lots, likewise, tend to attract more street traffic. |
| things like highways, parks, and sidewalks can be | | | | The middle of the block or on a cul de sac are |
| the building blocks of a city. Additionally, | | | | popular locations. |
| organizations, restaurants, services, gas stations, | | | | The location of a home can have an incredible |
| and other places run by citizens help to create the | | | | impact on its future resale value. Though its place |
| community, too. If being close to conveniences | | | | on a map may be one factor, there are many |
| like mass transit, local shopping centers, and easy | | | | more aspects of a home's location which should |
| highway access are important, make sure to look | | | | be taken into account. Before purchasing a house |
| in places where these features are present. Any | | | | that will eventually be resold, take the time |
| one or more of these amenities are popular with | | | | determine if it is in a location that will appeal to |
| a majority of buyers and may have an effect on | | | | future home buyers. |