There are so many things to keep track of and look for when buying a home. One needs to evaluate all of the qualities you desire in a home and have an idea of your future plans. As if this wasn’t enough to think about, you need to handle all the details of working with a real estate agent and do your research on taking out a mortgage loan. It can be a stressful time. Unfortunately, it can also be a time that you overlook a very important detail. That detail is the sale-ability of the home. If you had to turn around and sell the house tomorrow, would it be a walk in the park or a huge feat?
It’s very common for a family to buy a home with a plan of staying there for the next twenty years. However, it’s also common for these plans to go out the window when life throws us curveballs. Unfortunately, sometimes marriages don’t last or natural disaster strikes which can alter our lives and life plans.
It’s beyond important to evaluate the market value and condition of a home, pre-purchase. What is the neighborhood like? What price could you list it under? Does it need repairs, a complete renovation, or landscaping? If the home does need repairs, how long will they take? These are details that often get overlooked because many families assume that their home will always fit into their life plan.
We must always plan for the unexpected. What if your kids turn eighteen and you realize you want to travel the world with your spouse for your retirement? What if you get a job offer in another state or country? What if you unexpectedly have triplets and need to upgrade to a larger home? Life is full of surprises! It’s essential to be as prepared as possible for all the alternatives.