do you have a home someone will buy in the future?
1. The Location
We’ve all heard the cliche: location, location, location; but it is, by far, the most important thing on our list. If buyers are looking for homes in a suburban area, they want quiet neighbourhood streets located within walking distance to good schools. Being close to transit is also important, especially if it’s in an urban area, and there’s an extra bonus if you can be within walking distance to grocery stores, dog parks, neighbourhood pubs, and a coffee shop.
2. Floor Plan
About 60% of the buyers we have worked with have an ensuite as an absolute must on their list of requirements when buying a home. Think about that: the home you purchase may automatically be dismissed by 60% of potential buyers when you go to resell that home in the future. Just because you are okay without an ensuite (or two-car garage, bathroom on the main floor, staircase off the back deck, etc.) doesn’t mean the next potential buyer of your home will be.
3. Square Footage
The reason this makes #3 is that square footage is king when Realtors assess your home and lot size. When a Realtor runs an assessment, the first thing they do is punch in the lot size and house size into their MLS program. That will pull up all the comparable homes sold in the area, and chances are, a Realtor will be running those same stats again in the future.
4. Quality of Build & Finishings
The finishings in a home can have a drastic impact on resale value in a slow market. If the finishings are cheap, they can show their wear quickly or fall apart sooner. Everything from the mouldings, carpets, windows, faucets, toilets, appliances, countertops, etc are all items that we will look at when we view a property. Well-known builders value their reputation for quality work and can get an extra $25-100k more than the same sized home built across the street by an unknown builder.