How do you Purchase A Home That Will Appreciate in Value?
If you’re buying a New home, Can you predict how well it will Appreciate while you live there? Maybe, maybe not. First, we believe you should buy your primary residence as a place to live in and raise your family. But there Are Some things to look for in Real estate that can help Assure that your property will Increase in Value Over Time. Here are some Real estate Features that will Aide in Appreciation:
NO.1 - Location, location A home’s location will always have a huge impact on its ability to Appreciate. Important aspects of location include school district rankings, access to parks, stores and restaurants. Transit, major hwys and crime rates. Keep in mind the principal of regression too. Dont buy the biggest house in an area surrounded by smaller homes, this will bring down the Value of the Bigger home whereas the opposite is true for the smaller home in the area so Make sure the area conforms and suits your needs.
No 2 -Curb appeal - A house that appears tidy and well-cared-for will sell more quickly and for more money. A good first appearance can add as much as 10 percent to the value of the home.” This only makes sense, because if the exterior front of your house doesn’t show well, buyers aren’t even going to bother going inside. So make sure your house looks great inside and out.
No 3- Ideally, you want your house to be updated and upgraded by the time you go to sell, but you also want to save money by doing some of those upgrades yourself and overtime. Adding granite countertops in the kitchen, updating the paint throughout the house and installing new bathroom fixtures are all examples of simple ways to increase your Home’s value on your Own, which in turn will Aid in its Appreciation.
No4- Your “Principal Residence” or Residential property is generally Tax exempt. Any gain or Apprecitation on the sale of a principal residence is tax-free. However you should be aware that some tax rules do apply when selling Your home. Always assume you will need an additional 1.5 to 2.5 per cent of the purchase price to cover all closing costs
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