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teach123 teach123 is offline
 
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House buying
Old 10-12-2020, 02:58 PM
  #1

We are considering buying a house. I am concerned about resale value since we are not sure it is our forever home. I am concerned because the major reselling points are not great. It doesnt have a master bath or walk in closet. It has two small, outdated bathrooms. The kitchen is small and outdated with a big fireplace separating it from the dining room. I know they are typically areas that are important. It also has electric baseboard heat so I am concerned about the cost of heating. On the plus side, it is in a good neighborhood, has good size bedrooms and a good yard. What would you do? Would you buy a house with those things missing? We would be able to do a little updating but I dont see any additions as being possible.



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Buying a house
Old 10-12-2020, 03:50 PM
  #2

If it is in a good neighborhood that is great for resale.

Also if it has a big pretty yard that gives the home curb appeal and should help.

If you like the house and it is a fair price to a bargain I would go for it unless you just want to keep searching for something better.

If you decide to buy this house I would update the bathrooms first.

Good luck whatever you decide to do.
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Old 10-12-2020, 04:49 PM
  #3

There will always be people looking for a starter or downsizing home. Yes, the features you mention are things the HGTV shows make it sound necessary to have. Reality is not all homes have this features.

My house has everything on the "must have list" except the upstairs bathroom is small. There is potential to expand it, but it's not happening on my done. New owner have to have something to do when we sell!
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Old 10-12-2020, 04:53 PM
  #4

If you like it and can afford it then buy it. Donít worry about resale. If itís in a good neighborhood it will sell when you decide to sell.
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Old 10-12-2020, 07:34 PM
  #5

Quote:
Donít worry about resale
I agree. Buy a house you want to live in, but make sure it is in a great, or at least a good location. If it is in a great location, it will be easy to sell; and if you love the house other people will too.


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Old 10-12-2020, 07:43 PM
  #6

You can update a lot of stuff but I think no master bath would be a deal breaker for resale.
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