While everyone wants to purchase a home that features all of their favorite amenities and characteristics, it is a good idea to consider more than just personal interests when purchasing a home. Whether looking at purchasing Downtown Denver condos or a house in Idaho, chances are good that you will someday want to sell the home in order to adjust to life’s changes. Therefore, when searching for the perfect home for you, you should be sure to consider the potential resale value of the home. By keeping a few key things in mind, you will significantly increase your chances of enjoying a high resale value if the time comes to sell your home.
Perhaps the most important thing to consider is the community where the home is located. Those homes that are located in the most appealing communities will enjoy the greatest resale value in the future. In short, there is much to be said for the old adage of “Location, Location, Location” being the number one rule of real estate.
Property Taxes and Economy
Of course, it doesn’t matter how desirable the community is if it has an unstable economy or if property taxes are not utilized effectively. Things to consider include the community’s proximity to jobs, commercial establishments and health services. While some people enjoy living in a more secluded area away from these facilities, it will make it more difficult to sell the home if it is not accessible. The same is true when it comes to how effectively property taxes are spent within the neighborhood. While you may have to pay slightly higher property taxes within certain communities, these taxes may be used to provide top-notch schools, well-maintained roads and a whole host of community services. In this case, spending a couple hundred more dollars per year toward taxes is certainly beneficial in terms of maintaining a high resale value.
Local Government Practices
Unfortunately, high property taxes are not guaranteed to translate into an attractive community with ample amenities. For this reason, it is also important to consider the local government and how it represents its residents. Some communities offer a wide variety of services. Other things to consider include public services and facilities such as fire stations, libraries and hospitals, as well as local crime statistics. By comparing the community to national statistics as well as to other neighborhoods in the area, you will get a clear idea of how well the community is likely to fare into the future.
About The Author: Brian Kinkade specializes in Colorado luxury condos as a Realtor with The Home Cart in Denver.