Advantages of a Resale Home, and Do Pools Affect Value?

The major advantage of a resale home is that you are moving into an established neighbourhood. Your lawn is green, your shrubs are growing, your driveway is paved and your trees are well enough established to give your street a feeling of permanence.

In terms of an investment, a resale home often will give you more for your money than a brand new home. Many owners put thousands of dollars into home improvements rang- ing from small items, such as landscaping, to major projects, such as a finished basement.

Although these improvements will make the home more attractive to potential buyers, they may not increase the market value of the home. A $30,000 swimming pool or a $25,000 finished basement or even $5,000 worth of shrubs and landscaping may make a home very attractive, but they will not necessarily increase the market value of a home. The buyer gets the home at its real market value, which is based on comparable homes for sale or sold in the neighbourhood. All those expensive extras may come to the buyer at little or no cost.