Real Estate Market

Owning a home is likely the largest financial investment many will make, so whether you are buying or selling a home, it is important to think about resale value. With a little research, you will find that there are some things that will get you a great return on investment and there are others that will not.

When selling your home, you may want to make some improvements that will make it more appealing to buyers, ensuring a more profitable sale. But it is when you are searching for a home to buy that you can consider options that will give you desirable resale value in the future.

Here are 5 unexpected things that may raise your home’s value:

1. LOTS OF TREES

While a brand-new house in a recently established community has its perks, what it often lacks is proximity to mature trees. Large, well-rooted trees found in older neighborhoods, not only make for a lovely landscape, but they also provide shade. They add beauty and they save energy, while also increasing your home value.

2. GOOD SCHOOL SYSTEM

It may not seem so unexpected that a home in a good school district would have increased value. But sometimes people without children do not think about this. Even if you never intend to have children, you should keep in mind that many buyers will be highly motivated to purchase a home based on the quality of the area’s school system. For the purpose of resale value, it would be smart to invest in a home in an area with desirable schools.

3. SHOPPING NEARBY

People like convenience, so if a house is near a shopping area with a supermarket, it will likely increase its value. This is especially true if it is close to higher-end stores like Trader Joe’s or Whole Foods. Per Zillow, homes near these grocery stores may appreciate in value up to 40% more quickly than other homes.

4. OUTDOOR RECREATION AREAS

Living close to a park, walking trails, or other recreation areas can increase your home’s value. Things like dog parks, tennis courts, golf courses, and playgrounds are appealing to people who enjoy staying active. They will be willing to spend a little more to live close to areas where they can enjoy outdoor activities.

5. SEPARATE LIVING SPACE

Whether you have a mother-in-law suite, an apartment, or a carriage house, having a separate living space will add to the value of your home. Unlike the other items listed here, this is something you can add to a home after moving in. But while looking for a home, you may want to keep an eye out for one that already has one. Not only will it boost resale value, but it will give you the opportunity to earn rental income (depending upon the laws in your area) while living in the house.

When buying a home, it is important to find a place that feels right for you, but unless you plan to stay there forever, it will benefit you to think about resale value as well!

If you are in the market to buy or sell a home (or both), let me, Sandra Nickel, and my Hat Team of Professionals assist you with all your real estate needs! Call us today at 334-834-1500 and check out https://www.homesforsaleinmontgomeryalabama.com for more information!

House hunting can be overwhelming sometimes, especially when beginning the search for your first home. Chances are you might get caught up in the process and important details might slip by you. While the number of rooms, condition of the kitchen, and size of the yard are important, there are other things to consider before you make an offer. This list of things to look for can help get your search off to the right start.

LOCATION

They say that the 3 most important things to look for when buying a home are location, location, location. While a home might not be perfect, loving your neighborhood and neighbors can make all the difference in living with imperfection. And face it…you can change almost anything about your house, but you can’t change its location or the people living nearby. When you go house hunting, make sure to consider the home’s proximity to your work, the appeal of the neighborhood, where in the neighborhood the home is situated, ease of access, noise from neighbors, traffic, pets and access to parks, shopping, schools and public transportation.

HOME PLACEMENT

Beyond location, look at how the home is situated.  If the home is on a hill, does it have a view, a walkout basement, or lots of stairs to climb? Do neighbors' windows look directly into the home? Is the yard suitable for kids, pets, gardening, or other uses? Is there safe access to the home? These are all important questions to ask yourself when determining if it is the right property for you.

CHECK OUT THE NEIGHBORHOOD

While it’s important for your house to meet your expectations, it’s equally important that the neighborhood meets them too. Take a drive around the development you are interested in on weekdays and weekends, during the day and in the evening.  Are the homes in good repair? Are yards kept clean and tidy?  Is the neighborhood safe enough for people to walk, run or bike?  Are there children playing outdoors?

CONSIDER A HOME’S CURB APPEAL

You want a home that is going to reflect your lifestyle. Do you live a casual, laid-back life? Then you probably won’t want a formal Victorian or Tudor style home.  A simple, contemporary home might better suit you.  Pay close attention to exterior features.  Think about maintenance.  For example, a brick home is easier to maintain than one with siding.  Do you like working in the yard?  If not, you might not want a house with extensive landscaping.  Is the roof in good condition?  Attention to detail will help you choose the home with the best curb appeal for you.

SIZE AND FLOOR PLAN

You may be thinking about buying your dream home. But is your dream home practical?  Do you need 4 bedrooms and 4 baths when you live alone? A spacious home may provide the extra room you've always wanted for a home office or a theater room, but you'll pay higher heating bills and have higher taxes. Additionally, it will take more furniture to furnish and money to decorate. Think about how the new home space will be used and whether it will fit your lifestyle now and in the future.

BEDROOMS AND BATHROOMS

Decide how many bedrooms and bathrooms you will need and only look at homes that meet those criteria.  You don’t want to fall in love with what is otherwise a perfect house if it doesn’t provide the space needed for your family.  It’s smart to consider counting an extra bedroom in that number so that you have extra space for a home office or guest room. If you think you might add on to the home later, make sure you consult an architect who can advise you on space planning and regulations.

THE KITCHEN

For many people, the kitchen is the heart of the home. Don’t settle for a home with a kitchen that doesn’t work for you.  Yes, you can remodel it later, but at great expense.  If it’s an easy fix like replacing cabinets or countertops, get a price quote before committing to the house so that you will know if it is within your budget to take that on.

CLOSETS AND STORAGE

Older homes often have small closets and lack storage space.  As you’re looking at a home ask yourself where you will store your belongings.  Tiny closets don’t have to be a deal breaker.  There are ways to maximize storage without renovations. Newer homes tend to have lots of storage, and you may sacrifice living space while having more closet space than you need.

WINDOWS AND LIGHTING

While looking at a home keep in mind your preferences regarding light and privacy. Do you want a lot of windows to provide bright, sunny rooms?  Pay attention to the locations of electrical outlets and fixtures to make sure they meet your lighting needs.       

FINISHING TOUCHES

Even a simple home can look spectacular with the right moldings, hardware, and a fireplace.  If elements like these are important to you, look for them while house hunting. 

You may not find everything you want in one house but keep this list handy and you are more likely to find the home that best suits your needs and desires.  Happy House Hunting!

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://homesforsaleinmontgomeryalabama.com for more information.

Why You Need an Agent To Set the Right Asking Price

The number 1 task sellers struggle with is setting the right asking price for their house. To make sure your house is priced to sell, you need an agent's expertise. Click the image below to watch a short video, then let's connect and find that sweet spot. 

Midtown Montgomery real estate sales statistics for October 2024 show the number of homes sold decreased by 43.47% when compared to October 2023.  The average sales price decreased by 15.87%, and the median sales price decreased by 2.85%. Market times decreased by 4 days. 

For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

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Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.