We are looking to buy a home in WA. It will be our primary residence, but I am seeking advise as to how to grow the value of it if we ever wish to sell.
It doesn't really take a whole lot to increase the value of your home. Things like upgrading the light fixtures or ceiling fans, faucets, or appliances are ways to increase the value. Fortunately, those are projects that can be done one at a time so you don't have to spend a whole lot of money at once.
I think that the best way to grow value from a home is to buy it at a good location. Usually if you buy a house in the center that house will always value because people always want to live near the center.
One of the best way to go is to give it a kitchen remodeling which can really enhance its price and beauty at the same time. This is the one thing which many people are going with. So just follow it and make your home more valuable.
Location is king when it comes to real estate, try to grab a good location even if you need to fix the house up a bit. In fact, you might want a house that needs some fixing, usually something that can be fixed for $500 can knock off 3 or 4 thousand off of the price of the house, why is why it's recommended you fix everything when planning to sell...
My tip? This is coming from personal experience: Don't overdo it with the renovation and remodeling if you are planning to sell your house one day. This is because a house is only as good as its location and no matter how much you renovate, you can't sell that much higher than your neighbors. So just make sure the house looks decent, have the all basic necessities and comfortable to live in, and you'll be looking at a higher profit margin when you sell.
Also consider the area you are buying in, are there current developments/developments being planned for nearby that will increase the value of the property in the long run? Is it close to schools/universities/parks/rec centres etc. every little thing you can use to increase the value of the property you buy now will help down the track.
I agree that location is key. Many things that you might spend money on in an effort to increase the value won't matter one bit when it's appraised.
Sometimes the location can easily double or triple the value of a home, my place for example, in another location would not be worth half of what's worth.
Thanks for all of the feedback, I will keep the remodeling very basic...and that is if we ever plan to move out of the place anyhow. We are looking for this home to be our long term residence, so we really have the time to do whatever we want, whenever we want.
