Buying an Apartment: Maximizing Resale Potential
When buying an apartment (or any property, for that matter), it is especially important to consider not only features that fit your lifestyle, but also those that contribute to a higher resale potential.
According to the real estate website UrbanDigs.com, the top four apartment features that result in the greatest resale potential are location, views, square footage and the amount of sunlight the apartment gets.
Other features that can boost resale values include:
- Scalability: A unit that can grow with a new owner (e.g., a one-bedroom that can easily be converted into a two-bedroom).
- Intelligent use of space: Buyers want the most space they can get, especially in the actual living areas. Large foyers and long hallways tend to be wasted square footage.
- Separate dining room: Apartments that have a dedicated eating area free up the living room for other purposes.
- Possibility of change: Look for spaces that can be reconfigured for multiple uses (e.g., a closet that can be converted into a bathroom).
- Separate bedroom spaces: Bedrooms located on the opposite sides of the apartment allow children to be situated on one end and adults on the other end. This type of layout is also good for roommates.
By considering these tips when purchasing a home, you can make the most of your investment while enjoying an adaptable space that can grow with your needs.