Fisher Island Real Estate


Raising the Resale Value
Updated: Friday, March 12, 2010

Purchasing real estate in an upscale and otherwise pricey neighborhood is one of the first steps towards ensuring optimum resale value.  Even so, there is no guarantee that the home--regardless of how much the price might be--will reach its maximum resale potential.  There are however fairly simple steps one can take to at least improve the chances of achieving optimum resale value.

If a high resale value is imperative, don’t go with anything out of the box when it comes to the lot and stick to those common rectangular lots as irregularly shaped ones are not as attractive to buyers.  These lots should also have a decently sized yard and if the pool is too large or there is too much landscaping going on, these factors will work against the home’s resale value since sellers will have to factor these additional costs into the price.

Speaking of large, buyers should stay away from purchasing the largest residence in the area for the very same reason why it’s considered bad to have a large pool and excessive landscaping.  Spend some time finding out what the average values of homes are and then consider choosing something a bit smaller.  Be aware that this situation does present something of a catch-22: a bigger residence can actually have a positive effect in raising the value of the smaller home that was chosen.

Statistics show that three or four bedrooms and bathrooms is the best option here in order to strike a balance between convenience and price.  The kitchen on the other hand should be large and should remain close to the dining area/room.  Take all these factors into account when purchasing a home and the odds of achieving optimal resale value should improve.

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