It's the beginning of 2021 and our local housing market is still hot! Buyers are still taking advantage of the low interest rates and sellers are getting multiple offers on their homes.
Right now we have more buyers looking for houses than we have houses for sale. So today, we want to remind our tireless buyers not to settle for a home without making sure that it fits all of their needs....and that has good resale value!
Homebuyers navigating the real estate market often focus on the factors that suit their needs today - and for the duration that they live at the property. And many overlook the home's future resale value. And this can be a big mistake when it comes time to resell.
The location of the property, size, layout, and condition all influence whether the home is a good investment, or whether you will have resale problems later on. Here are a few things you might want to consider that will affect a home's resale value down the road.
Location influences the value of real estate more than anything else. Homes in a desirable location will attract a larger pool of buyers, and competing buyers typically push up prices - And this is exactly what you want when you put your house up for sale in the future!
#2 LAYOUT AND CONFIGURATION
Regardless of the square footage of the house, the configuration of the rooms plays an important role in establishing resale value. For example, bedrooms and bathrooms with poor layout or functionality could negatively impact the value of the property.
#3 ADDITIONS AND RENOVATIONS
Studies also show that adding a bedroom puts your home into another price category as well, so in some areas, if you convert your loft or den, it can be instant added equity.
Quick kitchen fixes, like replacing cabinet doors or adding new sinks and faucets, will typically increase the value of your home as well.
In a market like we have today, you want to make sure that you have a real estate agent on your side to help you choose the right home that works for you today and will work for you 10 years from now! Lucky for you, we have 150 experienced agents that can guide you in the right direction!
If you're thinking of about making a move, they can help you through the process! Just give us a call today!
Bossier City Office 318-747-5411
Shreveport Office 318-861-2461