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Buy Smart Today to Sell Smart Tomorrow

If you hoping to wrap up a deal on your first Raleigh home by April 30, you may be obsessing over whether you have found the perfect house. While you want to buy a home you love, your chances of success are best if your accept this reality: the home you buy will probably not be your last. Statistically, the National Association of Realtors states that the average America moves every six years. Since that is true, when you buy any home, but especially your first, you should plan an exit strategy for the future. If you buy smart today, you will be better able to sell smart tomorrow.

That means, first of all, that you should buy with an eye to re-salability. Though there is no guarantee of future prices that your home might bring, you should have an eye on the quality of the schools, the location, and the condition.

Modest priced homes tend to sell more quickly than more costly ones. Since your first home is likely to eventually be someone else’s starter home, your price should on a par with other starter homes if you hope to sell it quickly. This will help you too, as buying your first home is not the time to exceed your comfort zone on price.
You might foresee doing a few projects for the enjoyment of your family and to make it more attractive to future buyers, but you should refrain from buying a place that needs loads of money overall. There’s nothing wrong with buying a fixer upper, but you might want to carefully consider what will add to the resale value when you anticipate the projects you want to tackle. Remodeling the kitchen and bathroom usually add to value but adding rooms or a pool can out price the home for the neighborhood. If you immediately need more space or have certain amenities on your must-have list, you are better off considering a different, slightly more up sale home.
You should also buy a home that will meet your needs now and for the next few years – not forever. Your family may grow, you may get transferred, you may want a bigger yard, but those are not cast in stone when you buy your first home. You can’t read your future – certainly your housing future is no exception.
Buying your first home is a wonderful, exciting experience. Buying with an eye to the future does not diminish that – it’s just smart business to plan for the future. Buy smart today so you can sell smart tomorrow.
P.S. For the next 10 days through April 30, the homebuyer’s tax credit is still in effect, so both first time buyers and longtime homeowners can receive federal dollars to buy your affordable home. Take advantage of rarely seen low interest rates and buy a home with me Marti Hampton and team Marti here at RE/MAX One Realty. ACT NOW!

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