When you buy a Knoxville home, there are a lot of things to think about.
You need to worry about getting pre-approved, choosing the right Realtor, making the right offer, getting a home inspection, and preparing for a move. Still, even the most prepared buyer is bound to miss something.
Oftentimes, buyers are so worried about their move into a home, they make the biggest mistake they can possibly make: failing to consider resale value. In this post, we’ll look at the importance of resale value and why failing to consider it is the largest mistake you can make when you buy a home.
Location is truly the one thing that you cannot change about a home. Short of picking up the home and moving it somewhere (which is expensive, if not impossible), a home’s location isn’t every going to change.
While you may love the house, if the location is less than stellar, you can expect difficultly selling the home in the future. A home that is in a noisy area, in a declining neighborhood, or in a poor school district are all things that make a location not so great.
If you have hesitations about a home’s location, so will other buyers. A poor location can make a home very difficult to sell.
In addition to a home’s location, there are some things that cannot be changed about a home.
Small backyard? Close lot lines to your neighbors? Or, a lot that backs up to a major street? These are all shortcomings about a house that you cannot change.
While you may be able to accept them, another buyer may not in the future. If you see certain things in a home that cannot be changed, be sure to think long and hard about the home. Be sure that you’re not overpaying for a home when it comes with such defects.
There are home homes that have major flaws in their design, which can deter future buyers from buying a home.
For example, if a home has 4 bedrooms where a few of them lack closets or a small galley kitchen in a 5 bedroom home, many buyers may be turned off by the design flaws. Buyers want a home that is functional. If you have a large home with no closet space, buyers may struggle with how they will store their stuff. Or, a large home, with a teeny kitchen, buyers may struggle with how they will cook for a family.
While design flaws can be fixed, it can often be expensive to fix these issues.
It can be hard to think about selling a home when you’re just in the process of buying it yourself. Still, resale value is one of the most important factors you should think about when you buy a home. Even if you plan on staying in a home for a long time, you never know what can happen. The home you buy now is an investment in the future and you want to make sure it’s a smart investment.
Oftentimes, buyers are so focused on buying the home and moving in, they fail to look far enough in the future to consider whether or not they’re making a smart investment.
Are you thinking about buying a Knoxville this year? Please let us know if there is anyway that Knoxville Home Team can assist you. Rick can be reached at 865-696-9002 or via email at [email protected]. Kati can be reached at [email protected] or by phone at 865-696-1888.
If you’re ready to start your home search today, be sure to our Knoxville Home Search Page.
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