If you’re a rooky in the real estate business, you may not think about the future when it comes to purchasing a home. First time home buyers are more than likely focusing on the now instead of what may happen years from now. With that being said, it’s important for first time home buyers to not only think about the present but about the possibility of selling your home. So what should a first time home buyer focus on when purchasing a home for a great resale value?

  1. Make sure the city in which your purchasing has a stable economy. In other words, Charleston is a perfect place because it’s a tourist town. The steady economy in Charleston will guarantee that the resale value of the home will more than likely not be affected by other economic trends.
  2. Location, location, location. Is the home ideally located? For instance, think of Park Circle its 11 minutes to Mt. Pleasant and Downtown. Many homebuyers are looking for up and coming neighborhoods, such as Park circle or Hampton Park (located downtown). These areas will have a better resale value compared to ones farther north than downtown.
  3. Take a look at the neighborhood. How’s the crime rate in the neighborhood? Are police correcting the crimes that occur? Compare the neighborhood stats to the national norm. Obviously you want it to either be the same or better.
  4. The school district. If the schools surrounding your neighborhood are below average, it’s a good idea to look in a different neighborhood. Families buying a home concentrate on the school ratings. It may be easy to overlook school districts if it has no effect on your current situation, but it may have an effect on your future resale value of your home.Charlotte-Home-Values-Increasing

Focusing on these areas will help you decide whether or not you should purchase a home- especially if you know it may not be your forever home. Make sure to look into these resale value factors before making any moves. Talk to your realtor and even your mortgage lender about the neighborhoods you’re looking into. For more tips on purchasing a home call Coastlend Mortgage at 843-388-5763.