Buying a home will cost you a lot of money, but it’s an investment with a good potential of accrual over the years. If you’re in the market for Beverly MA real estate properties, take note of these factors that usually increase a home’s market value.
It’s All About Location
It’s a cliche, but it’s true: In real estate, location is still the most important factor when it comes to value appreciation. More specifically, you want to purchase a home in a well-regarded community that’s near daily essentials: schools, grocery stores, transportation hubs, malls, etc.
However, there is something to be said about up-and-coming communities that may not quite be a hotspot yet, but on the way to becoming one. In these locations, you can usually purchase homes for a lower price and see their value grow considerably as the community evolves.
Whichever one you choose, be sure that the area will be one in which your family can thrive.
A Little Fix-er-Up
Like any property, homes, too, are subject to wear and tear. However, don’t be immediately turned off by a home that requires a little bit of fixing up to achieve its full potential. You’ll be surprised how a fresh coat of paint and a few ornamental plants can transform a seemingly drab property into a dream home. What’s more, you can usually buy such properties a tad bit under the market value and do a little bit of improvement work to immediately bolster its value. Just be sure to first have the home thoroughly inspected to make sure that all issues are cosmetic and not fundamental in nature—such as a cracked foundation.
Necessary vs. Nice-to-Have Features
Every home seller will highlight all the great additions to their homes, such as a large swimming pool or a Zen garden. While these features are certainly nice, they’re not particularly functional. A swimming pool can cost you thousands of dollars in maintenance fees each year, for instance. Hence, the more niche the home improvements are, the less likely they are to boost home value in the future.
If you are buying a home, a safer bet would be ones with well-appointed kitchens, living rooms, and bedrooms, the features you’ll use everyday and that most buyers actually want.
Indeed, buying a home can be a great investment as long as it is one that will increase in value over time. To find a promising piece of Beverly, MA real estate property, contact an exclusive buyer’s agent ASAP. Call us today at 978-468-2138 for a no-obligation free consultation. Let us show you why it pays to have an exclusive buyer’s agent on your side.
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