Buying A House in Alexandria VA With Resale Value in Mind

George Washington Masonic Memorial

It’s one of our biggest investments and most of us will buy a home more than once during our life. Our modern dynamic lifestyle and economy, calls for flexibility, mobility and frequent changes. People are following their jobs and careers even if it means moving from one side of the nation to the other. So if you’re buying a home in Alexandria VA, at the same time you should probably be thinking about selling a home in Alexandria VA.

Alexandria VA is one of the most expensive real estate markets in the US (or the world for that matter) but it’s also one of the best places to sell a home. No matter what part of Alexandria you’re considering you have to keep in mind the three most important factors in real estate value:

  1. location,
  2. location and
  3. location.
The Preston is located near Potomac Yard shops, restaurants, and movies. Metro bus right outside the door.

Indeed, it’s first thing to consider when looking for a home. There are some general elements which are obvious like:

  • Does the neighborhood have easy access to shopping and groceries?
  • Is the neighborhood served by a good school?
  • How is the view? Is the home close to the Potomac?
  • What’s the traffic like at various times of the day? Do you have a lot of cut through traffic or are you in a quiet corner of the center of the world?
  • How are the neighboring properties kept?
  • Consider the orientation of the house. Depending upon the time of the year the sun will set in different places and this can impact comfort and view.
  • How big is the lot? How private is the lot?
  • What sort of lay-out does the home have? Does the floorplan work for you?  Does it work for others?
  • Are the kitchens and baths new or do they need updates?
Nice walk-in closet

In addition to these top level and obvious concerns there are other factors that can determine value:

– Closets, lots of closets and with as much additional storage space as possible. (Some of the older homes in Alexandria are bereft of closet-space.)

– Light and bright – Homes with lots of natural lighting are very popular. Keep in mind the orientation as mentioned above. A home can be seasonally bright.

– There are a great many telecommuters in Alexandria. Does the home provide a suitable room to be set as a home office.

– Is the laundry convenient? Are the appliances updated?

– A spacious basement is a plus.

Features to avoid

– One-bath homes can sell for significantly less than homes with at least two baths and they take longer to sell.

– Electric baseboard heat and electric ceiling heat are usually not as desirable as central heating systems.

– A fireplace in the living room is usually a plus. In older/historic homes, the fireplace might need some attention.

Your first objective is to buy a home that’s right for you, but it’s important to estimate the resale value before you make the final decision, especially if you know you’ll move again within three to five years. A careful purchase now will help give you extra funds to move up with the next time you buy a home.

Just Listed in Alexandria VA

Nesbitt Inspirational
Freedom is the oxygen of the soul. -Moshe Dayan

10 Ways to Buy a Home With Little or No Money Down in Alexandria

Julie Nesbitt
Julie Nesbitt

There are many ways to buy a home in Alexandria, even if you have little or no money to put down. Here are a few of the basics:

1. Sweat Equity

Sweat Equity is a way to get a home by trading work for equity in the house. This could be used for a down payment or for purchase later. This is a great technique if you are handy with tools, yard-work, and paint.

Continue reading

5 Major Reasons Why You Should Buy a Home Instead of Rent

Realtor Stuart
Realtor Stuart Nesbitt

There are times when it is better for a person to rent, but most often home ownership has many more benefits and advantages.

About 10 year ago a had a retired aunt and uncle who rented a condo in Las Vegas. Uncle Jim (not his real name) was a retired minister. Throughout his career he and his wife lived in parsonages, which are homes furnished by the congregation while they ministered there.

Continue reading