Owning the house where they live is the ultimate American dream for many people. It’s the first step towards real estate investment.
For most of the nation’s 75 million homeowners, the financial aspect is only one of the benefits of buying a house. About 40 percent of U.S. homeowners believe they are more financially stable, but almost 60 percent say that owning their home gives them a sense of accomplishment.
Still, many Americans believe that it’s expensive to have your own home! However, the potential costs shouldn’t discourage would-be homeowners.
Let’s talk about profit in home buying and how it can help ease your financial worries.
Why Should You Consider Future Value and Profit in Home Buying?
When purchasing a house, don’t ignore housing market indicators or downplay the importance of location. Hiring a real estate agent may be a good idea, as well as asking your friendly home builders for advice.
It may be your plan to find a forever home, but it doesn’t hurt to choose a home whose value appreciates. You may go down a different road someday, and having the option to sell at a profit can open up more routes to explore.
Property values aren’t likely to increase significantly in the short term, but if you sell at the right time, you will turn a profit. The law allows home sellers to keep profits and pay no capital gains taxes in some cases, too.
5 Ways to Turn Your New Home a True Real Estate Investment
Don’t think of these suggestions solely as ways to increase profit in home buying, but also as inspirations to improve your quality of life.
Whether it’s a charming home in one of Dayton’s suburbs or a house in a city with a high population turnover rate – like Austin or Orlando – you can keep your residence well-maintained and attractive by following the tips below.
1. Be Mindful of Your Home’s Curb Appeal
More than 75 percent of the best real estate agents in the U.S. say that improving curb appeal is the most important step a homeowner can take to increase their residence’s marketability.
How you maintain exteriors and maximize outdoor spaces affects the first impression of your house from the outside. Prioritize low-upkeep improvements and keep your landscaping neat to improve curb appeal.
2. Build Your Dream Kitchen and Bathroom
There’s nothing like a bath or kitchen remodel to increase profit in home buying. When you’re ready to sell, the state of these rooms will figure heavily in home valuation. In some cases, improving these areas can return more than 100 percent of the money you sink into it.
All-natural wood cabinets and floors combined with smart and stainless steel appliances could be perfect for the kitchen of your dream home. A blend of traditional and contemporary features works best. However, if a home only has one bath, adding a second one may increase property value more than a remodel.
3. Add Sustainable and Energy-Efficient Features
Did you know that energy efficiency is second only to a safe community in terms of the largest impact on a home purchase decision? It’s a good thing that implementing some sustainability measures during home building is relatively affordable.
For example, installing high-efficiency windows certified by Energy Star can bring down house energy bills by up to 15 percent. Switching to LED lights is easy, as well.
4. Prioritize Durability and Stress-Free Maintenance
Nearly 40 percent of people looking to purchase previously-owned houses tend to avoid properties that need renovations or have electricity or plumbing problems.
Updating utility systems and choosing long-lasting materials contribute to a hassle-free environment for a homeowner. Keep your stress levels down and pass on your residential improvements to the next owner, should you choose to sell your home for a profit.
5. Include Physical Accommodations for Older Adults
By 2034, people 65 years and older will outnumber those under 18 years old in America. To make your house appealing to buyers in the future, make it more comfortable for older adults.
Avoid or remodel narrow doorways, steep staircases, and slippery bath areas. Make sure the entire home is walker-accessible and wheelchair-friendly. You can also think about putting the main bedroom suite on the first floor to reduce the need to go up and down the stairs.
Are You Ready to Meet Your Dream Home and Make a Real Estate Investment?
Let Oberer Homes help. We have the experience and the expertise to match your passion for homeownership – whether you’re searching for a charming home in Dayton or looking to custom-build the house of your dreams.
Call us at 937-531-5505 to set up a consultation, and let’s get started.
Ask Oberer Homes about our floor plans, residential features, and more! Let’s work together to create or find your ideal home.
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