What things make a home appreciate? What should I be looking for when I buy a home(investment-wise)?

Question

I am buying the home to live in and am looking for things that will give me future appreciation. I've noticed the city is really growing...what other outside things should I look for?

Thank you all for the good tips...any more? Inside or Outside for appreciation and adding value.

Answer 1

Are you buying a home to live in, and looking for the best appreciation, or buying a home for renting out and future appreciation?

I ask because there are different answers to those 2 scenarios. In both cases, the surest ways to make money on a house is to buy one that needs work, cosmetically (paint, new carpet, lawn cleanup etc), but doesnt have serious (and expensive) structural issues. (New roof...borderline...new sill plates due to termites...no.) Houses that need repair sell at a discount. Thats because much of the market has no interest in fixing up their new purchase. Also, work you can do yourself is the equivalent of saving the amount you would have paid for labor, in some markets that can be as much as $40 / hour.
Other keys... only buy a house that has a negative feature that can be fixed. For example, you can cut down dead trees, but you cant move a house that is across the street from a strip joint.
Remember its Location, location, location in real estate. Finally, an extra bath is worth more than an extra bedroom. 3 bedrooms and 2 baths is much better than 4BR and 1 bath

Answer 2

Yes, kitchen and bathroom upgrades increase the value of a house. If you're upgrading just to sell it, don't go overboard; the amount you get back in value is a small percentage of what you paid, around 5-10%.

Like they say, three things are the most important: location, location and location. If the neighborhood seems to be improving, the property values will go up.

Answer 3

The Kitchen and Bathrooms are the 2 big rooms in the house that can increase value. A new heating cooling system adds value also. If your buying a junker to fix up, give the bathrooms and kitchen a face lift and get the newest appliances for the kitchen.

Answer 4

The following website gives you an idea of what's going on in your area:

www.bestplaces.net

Also, start looking into areas where huge stores, that rely on retail business, start building new locations. Such places like Home Depot, Walmart and New Construction.

I suck at rehabing so I suggest you watch "flip that house" on the home channel for some ideas or you can visit the model homes of the new pricey homes and mimic their design and style.

Regards...

Answer 5

New kitchens and baths always adds value to a home. Prior to sellling, make sure that the roof and heating unit is in good condition. Landscaping adds appeal which can translate into more dollars for you home.