When you buy a home, it's important to consider its resale potential, even if you have no foreseeable plans to move. Here are some tips:
- A single-family detached house typically is easier to resell than a condominium or townhome, although condos are popular in some major cities.
- Don't buy the biggest house on the block. A modest house in an upscale neighborhood will likely sell much better. Three bedrooms and two full baths seem to be standard.
- Conventional styles and standard interiors-for the region-sell better than unconventional.
- Look closely at the neighborhood and its zoning. Look for good schools, well-kept homes and yards, access to highways, commuter transportation, shopping, recreational opportunities and services.
- Determine how quickly houses have been selling in the neighborhood compared to the rest of the city.
- Check out the reputation of the company that built the house.
- Have a professional inspect the house to be certain there are no major defects before you decide to buy.
- Consult with a financial planner about the investment and tax aspects of buying the house.