One of the most common mistakes buyers make is not considering the resale when buying a home. Most people live in their home an average of seven years, so it’s important to consider how difficult it might be to resell your prospective home. Home buying mistakes are costly and it takes time to recover. The most important factor to consider is the price.
The closer you are to the average or middle price points, the more potential buyers. Higher and lower price points clearly have a more limited market, which means fewer potential buyers. Another important factor is picking the right house in the right neighborhood. What this means is don’t buy the only two bedroom house in the subdivision if all the other homes have a third bedroom, unless you get a heck of a deal. Other factors to consider are train tracks, power lines, cell phone towers, busy streets, and yes, swimming pools too. All of these items will allow you to buy a home for less money, but the same holds true when selling and keep in mind you will pass the same good deal on to the next person.
So be sure to ask yourself, are you really saving any money? Clearly, all homes will sell if the price is low enough. The question is at what price and how long will it take?