Resale Factors Homebuyers Need To Consider

1
Resale Factors Homebuyers Need To Consider
2

• The homes current and historical sales price

• The comparable sales

• The location and neighborhood

• The market

• The size

3
The homes current and historical sales price
Compare the current list price with what the home
previously sold for. Tax records can provide the
history of every time the house was sold along
with the closing price Your real estate
agent can help locate this information, and its
also available in public property records.
Looking at historical price data will tell you if
the value has gone up over time, and it is a
decent indicator of what you can expect when its
time to resell the property.
4
The comparable sales
Talk to your agent regarding the availability
and compatibility of comps. Are there lots of
comparable homes nearby, or is it hard to find
similar properties? Good, close comps help to
bring objectivity to the valuation process
something thats important when youre thinking
about resale value. If its hard to find good
comps now, it will be just as hard to find good
comps later.
5
The location and neighborhood
While your agent cannot legally comment on the
location and neighborhood, you can ask him or her
to direct you to local data in order to come to
your own conclusions. Research crime trends,
potential new infrastructure plans, and zoning
laws. Youll also want to look at how quickly
other homes in the neighborhood have sold This
is an indication of the neighborhoods
desirability among buyers. Make a list of any
additional features that the neighborhood offers,
such as security measures, amenities, community
areas, transit accessibility.
6
The market
Talk with your real estate agent about the
current reality of your local market. If youre
house shopping in a buyers market, youre likely
to get a good deal, but if its a sellers
market, you may be paying more. Market
information is important now, and its also
something to keep in mind as you think about
resale. As a general rule of thumb, if youre
buying low (buyers market), chances are good
that itll be easier to make a profit during
resale. If youre buying high (sellers market),
it might take more time to realize a gain, and
therefore could be a greater risk in terms of
resale.
7
The size
Trends vary greatly depending upon locale. In
urban areas, smaller square footage is more
common, while in the suburbs, buyers may be
accustomed to something much larger. In some
areas, the tiny home trend is becoming more
popular as buyers focus on minimizing clutter and
debt. A top real estate agent can help you
determine what size home is most popular in your
city.
8
THE MEDALLION MOHALI
The Medallion Mohali is selling luxurious
independent apartments with a panoramic view.
These flats assure plenty of sunlight and good
ventilation.
919915151411
www.the-medallionmohali.com