Buying a home is one of the wisest investments a young person can make. However, it’s not likely in today’s world for a person to live in their first home their entire life. Selling that first home for a profit could make a huge difference in a young person’s financial future. There are a few ways to increase the value of a home.
Invest in a Growing Neighborhood
Some neighborhoods are better investments than others. By purchasing a home in a neighborhood where prices are likely to increase in value in the next 10 years, a young individual or couple can maximize their housing dollars while taking advantage of all of the new community services. When it’s time to sell the property, the owner will be rewarded.
Remodel an Older Home
Homes that have outdated features tend to sell for less in a buyer’s market. Purchasing a property that has not been updated in years can be a great value. Remodeling Contractors in Oshkosh, WI can help a homeowner make drastic changes to the appearance and function of the home so when it’s time to sell, they can demand a much higher price than they paid.
Refreshing a home could be as simple as painting the interior walls or as complex as rehabbing an entire kitchen. The amount of work a homeowner puts into remodeling the home should pay off when it’s time to sell. The experts at Steve Wirtz Builders Inc can help the homeowner decide which projects will give the most return on investment.
Make the Home Energy-Efficient
Improving efficiency will benefit the homeowner as long as they live in the home and make a huge difference in the selling price later. Energy-efficiency keeps heating and cooling costs low and is a huge selling point. Buyers want to know they’ll be able to afford to live in a new home so making a property more efficient will help it sell faster and for a higher price.
A first home doesn’t have to be a learning experience or result in a financial loss. By choosing the neighborhood carefully and working with Remodeling Contractors in Oshkosh, WI, a young home buyer can make a profit from their initial home purchase.
