How to Buy a Home with Good Resale Value

Does your home suit your needs AND increase your equity? 

Basic indications of a house with good resale value include:

1. Rental Suites: Renting out a part of your home has perks for first time buyers who need a mortgage helper as well as retirees who want financial security.

2. Renovations: Tasteful, quality renovations that are emotionally appealing to the masses.

3. Entertainment Space: Homes that have a common sense flow with natural light and open entertaining spaces for people to gather. 

4. Location, Location, Location: If you choose a home in a desirable location, odds are that location will remain in favour. You can’t always anticipate neighbourhood changes that will impact your home’s value, but you can educate yourself on anything the city has in the works.

5. Storage Space: People love collecting too much stuff and they’ve got to store it somewhere. Homes with walk-in closets and plenty of storage space are attractive to most buyers.

6. More than 2 bedrooms: Many couples need a guest room and an office. A home with 3 bedrooms or more is always a better choice to ensure a profitable resale value.

7. More than 1 bathroom: Given the choice between a 2-bath home vs a 1-bath home, buyers will almost always opt for the 2-bath home. It’s not enough to simply have 2 or more baths - a home without a master bath may find a lower resale value.

8. Covered Parking: Unless you live in an area where most residents rely on public transportation, you need a place to park your car. If it’s a covered, enclosed area, all the better.

Get clarity on your choices! Allow the Grant Gardner Team to bring value into your home and share our +30 years of experience in all aspects of Real Estate.

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