If you are in the market for a vacation home, or even a weekend getaway, there are various places you can look to plant roots. However, while markets vary city to city, there are some crucial factors that should be considered that are sure to guarantee your home only appreciates in value and worth over time. Follow these steps and equip your new home with a comprehensive New Jersey High-Value Homeowners Insurance program to secure your investment.
Especially for a vacation home, it is ideal to purchase a home that is priced low that can potentially be sold for a higher price later on. This can be achieved by purchasing a foreclosure or a short sale, however be mindful of the condition of the home before settling on it. Further, this may allow you to purchase a home in a desired neighborhood that may just need a little tender, love, and care.
Increase the Value
Renovations can immensely improve the quality of the home and increase the value. Simply spruce the curb appeal by brushing up the lawn, painting the front door a bright color, add foliage, and minimize dead shrubbery to transform the home’s look. Inside, renovating the kitchen is often the biggest money maker for homeowners in terms of updating. Further, consider buying in an area with great schools located nearby as this adds additional value to your home.
According to About Money, expanding job markets and community growth leads to increased property values, as well. This could mean big businesses moving to local towns, local universities expanding their research facility, and more. All of these are likely to bring more desire to live in your neighborhood and prices will skyrocket.
The views that your home overlooks are incredibly crucial. Mountains, rivers, oceans, cliffs, etc. all create more value for the home. Considering buying in a location that is equipped with a unique view as homes with prime views are limited and worth more.
At Tri-State Insurance Agency, we are committed to protecting homeowners against the broad spectrum of perils they face. Whether it is your full-time residence or vacation spot, our high-value homeowners insurance is custom written to meet your specific needs. For more information, contact us today at (888) 990-0526.