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Tips on How to Assess a Homes Resale Value

Most people see their house as an excellent investment. Considering its potential resale value can be great, especially if you plan to resell it in the future. But how can you know how much your house is worth if you sell it 5 to 15 years from now? Here are some of the things that you need to know about how to assess house’s potential resale value.

  1. Location

Houses that are located near the cities like Dallas Texas tends to have a different price range if compared to cities that are located in the country side. Knowing the nearest landmark or establishment in your area can help you assess your house’s market price. You also have to know if there’s an ongoing construction within your area. It may not be complete yet, but there is a chance that the area are being developed. This will greatly affect your property’s market value for the better.

  1. Maintenance and House Condition

Check your house’s current condition. Consider how much it would cost to maintain a property given its condition. Most home buyers tend to purchase new houses because of its physical condition. That’s why you have to properly maintain your house and make sure that it’s in good condition of you’re planning to sell it in the future.

  1. Asses the Area’s Local Transportation

Check if your house is accessible to major roads and highways. Knowing if your house is accessible to public transportation can increase your house’s market value. However, houses that are too close to railways, freeways, and traffic- congested areas can only depreciate your house’s resale value.  Houses that are near establishments and are near public transits tend to be more desirable to home buyers.

  1. Consider the View

Is your house facing a river or the sea? Having a good view can mark up your house’s resale value. However, a “bad view” can only limit your house’s possible resale value. This is very much applicable to waterfront houses. These houses are priced higher than regular residential properties because of its serene view.

  1. Consider How Your House Looks from the Front Street

Having an eye- pleasing exterior and landscaping can add to a house’s curb appeal. You have to learn what landscape design fits your surrounding terrain. Make sure that it complements the overall look of the house itself.

These are just some of the things that you can keep in mind if you’re thinking about reselling your house in the future. Knowing these things even before purchasing a house is essential, especially for those people who are looking for a good real estate investment. It would always be best to consult a local real estate agent to know more about the tips on how to evaluate your house’s market value.

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USDA Home Mortgages

Primary Residential Mortgage, Inc.
10121 N Rodney Parham, Suites C & D
Little Rock, AR 72227
855-474-7169
501-225-5626
NMLS # 3094
Branch NMLS # 252910
Licensed by Arkansas Securities Department 11558
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Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.

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