When building a home, you are likely hoping to build a home that is exactly to your needs and wants. After all, this is why many people choose to build rather than to buy a piece of real estate. At the same time, you want to consider the resale value of the home as well. Even if you think you will remain in the house until your golden years, you never know when life will throw an unexpected curve your way.
When building a home, you are likely hoping to build a home that is exactly to your needs and wants. After all, this is why many people choose to build rather than to buy a piece of real estate. At the same time, you want to consider the resale value of the home as well. Even if you think you will remain in the house until your golden years, you never know when life will throw an unexpected curve your way. Therefore, while you certainly want to build a home that fulfills your dreams, you also want to think ahead and build a piece of real estate that will help you earn a profit later.Considering the LocationThe first thing you want to take into consideration when building a home is the same as the golden rule that is always associated with real estate: location, location, location. The location of the real estate you buy will have much to do with the resale value of your home. Of course, conditions could change several years from now that will make your location better or worse than what it is today. Nonetheless, if you purchase a piece of real estate in a desirable area or in an “up and coming” area, you are likely to be able to turn a profit many years from now when it comes time to sell.Thinking About the SizeWhen you buy real estate on which you will build a home, you need to consider the other homes in the area. When it comes to resale value, your home should not be the largest home in the area. In fact, the smaller homes generally sell faster. This doesn’t mean that you should condemn yourself to a tiny home if you are in need of something larger. At the same time, you should keep your needs in mind when you buy the land so that you can build your ideal home in an area that will make your home more similar in size to the others in the area.Decorating for the FutureEveryone wants to personalize his or her home and there is certainly nothing wrong with that. Obviously, you want to own a piece of real estate that feels like “home” to you and in which you can feel comfortable. At the same time, you should build a home that will have a greater chance of being sold when the time comes. To that end, you should take a few steps in order to strike the perfect balance.The kitchen and the bathroom are two rooms that are very important in the world of real estate. In order to boost the resale value of your home and to help you enjoy your kitchen and bathroom to the fullest, try to buy modern conveniences to include in the home. The more up-to-date your home, the more valuable your real estate will be when it comes time to sell.You also need to consider the permanent fixtures and the decorative touches that can be more easily changed. For example, you might adore bright red. But, installing bright red cabinetry can be a mistake since it is a very personal color. Instead, you might want to consider installing a more traditional color of cabinetry and painting your walls red or adding fixtures that are red. That way, you can get the colors you want without making it costly to make changes in the future.By considering your likes and dislikes while also continually keeping the resellability of the home in mind, you will have a greater chance of creating a house that is both a home and a valuable piece of real estate.
Kinan Beck is the Broker and co-owner of One Source Realty in Austin Texas. Visit Kinan’s Austin Realtor Guide, visit his Austin Real Estate company’s website, & his Avery Ranch real estate website. He has seen considerable success in real estate, and looks forward to many more years in the business.