There's not a single buyer out there that starts out looking for their next home with the idea that they want to lose money or break even in their home purchase.  Most understand that not only is real estate a means for shelter but also an investment....probably your largest single investment.  Therefore, when you're looking to make that next purchase, what are some factors that you should consider that may help or hurt your resale value?

...And Beyond the Fence Is Where that New 10 Lane Highway will go.  You can call in traffic reports to the radio...

In case you're not familiar with the term NIMBY, it stands for Not In My Back Yard.  We all want smaller class sizes, speedier highways, and more light rail lines but all that requires real estate...and real estate that backs to someone else's property.  When you're looking at a home to purchase, be sure to note and ask questions about any areas behind your home not for sale.  I check instinctively because its better to be sure now than to be in court later.  You can go to the local Registrar of Deeds to see who the owner is, visit the local GIS service on the internet, or call planning and zoning.  The reason why this property may be $30,000 below market value may have to do with a planned refinery in the back yard? 

...Life is a highway, I want to drive it all night long...

The home you may be considering may have a more obvious issue like it may back a highway, near train tracks, or school.  The increased noise, traffic, etc may not be a concern to you but make sure that you do your homework before putting together that offer.  In a tight market where there's little inventory, a home near a highway, for example, will sell regardless of the location and closer to market value than during a slower time.  Fact is, when buyers are facing the prospects of buying two identical homes at identical prices; 9 times out of 10, they'll go for the one not backing the highway.  Therefore, consider your offer as having the seller to compensate you for the highway, etc.  The actual figure is between you and seller but it is why a home that that will typically sell for less.  Finally, remember that figure when its time for you to sell because depending on the market then, you may be compensating your buyer more or less than that. 

Not every structure is a possible problem.  Views of the Chesapeake Bay Bridge or the Naval Academy from Kent Island in Maryland were highly sought after.  Golf course views are also prized while down-wind of a chicken farm may not be to some.  Mountain or valley views may also help bring you a few more dollars depending on the location.

While no one knows what tomorrow's market will be, taking into account what factors may prevent a future sale of your home now is a good idea. 

Jonathan Osman
Charlotte NC Homes, Charlotte Real Estate