How To Ensure Your Property Has Good Resale Potential

A good investor always finds the best asset to invest in while an intelligent investor looks out for assets that have good resale value. Property is one of those assets where resale value is as important as returns. But not all types of properties have same resale potential as it is influenced by various factors. Here is how you can make sure that your investment has good resale value-

The basics of home

While buying a residential property, though location plays a very important role in deciding the pricing, amenities, connectivity and neighbourhood are equally significant in judging the resale value of it. If you are an investor and planning to sell it to the end-user, make sure the property has all the basic conveniences in place required in day to day life. Apart from this, buyers also prefer greenery around their home or kids' play area to ensure a healthy environment. These days, residential projects are being planned in a way that just 50 per cent of the total land area is constructed while rest of the area is left for recreational purpose where manicured lawns and gardens enhancing the look of the project.

Right property configuration

As recent studies have proven that 2BHKs are the most demanded property type, always understand the local demand where the property is located. For instance, Mumbai has heavy demand for 1BHK and smaller 2BHK because of higher property prices. “The number of bedrooms is one of the primary needs of homebuyers. Young homebuyers usually seek a minimum of three bedrooms. A master bathroom is a perk that will likely add to the resale value,” says Sukhraj Nahar, Chairman and Managing Director of Nahar Group.

Improvement over attractive

Nahar further adds, “For successful investment always look beyond style and the physical attributes of prospective purchases and concentrate on the property's potential for land appreciation.” This also means apart from the being attractive, make sure that the investment will offer you opportunities for price improvement that will enhance the value of the land. The property does not only have to be 'attractive' but also 'money-making'. Property values appreciate and improve in those locations which have developing infrastructure or have growth drivers in places such as upcoming metro, flyover, bridge or any other major project that could increase the convenience of local residents.

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