If you are considering purchasing a newly built, luxury home, it's important that you consider resale, especially if you know that you do not plan on living in that home for the rest of your life. Many people, when looking to purchase a luxury home, will not be keeping this in mind because they will be so overwhelmed with all the great features that the luxury home has to offer. This can often lead to making a poor purchase decision for the future. Here are four tips to help you consider resale:
- Consider Location: The location of your home is going to make all the difference when it comes to reselling your home. If the home is near a busy street, for example, it's going to be more difficult to sell. This is also true if it is not within a good school district or is within an area that has a high crime rate. Although the home may be beautiful, there are better options when it comes to location. Be sure to talk with your real estate agent to ensure that you are looking at luxury homes that are in a decent location.
- Consider Layout: Sometimes, newly built luxury homes will try their hand at a unique home layout, but it doesn't always work. For example, some may expand well into the lot leaving the home with a very small space for a backyard. This is not ideal for families or people with pets, which is going to make the home harder to sell. You should also consider how the layout of the bedrooms work. If the main bedroom is attached to the kitchen or living room, for example, you're left with very little private space since most family gatherings happen in the kitchen or living room.
- Consider Neighbors: If the luxury home you are considering is built within a new development, you often don't have to worry about neighbors. However, if the home is close to the outside of the development, there may be older homes around that can bring down the value of your own home in the future. This is especially true if these older homes are not well kept by their owners. If the yard is overgrown or the appearance from outside is not appealing, consider asking about a home further within the development or look elsewhere.
- Consider Different Times of the Day: If you are seriously considering the purchase of a particular luxury home, be sure to arrange with your real estate agent to visit it during different times of the day. This is going to help you determine how bad traffic is getting in or out of the community, the way the sun sets on the house, and whether or not noise from a highway is a problem. All of this can definitely affect resale.
When you consider these four resale aspects when purchasing a luxury home, you can be sure that you are making the best possible investment. For more information, talk to a real estate agent with experience in luxury homes.