With the 2015 NFL Draft around the corner, some of college football’s top prospects will seek to be picked up by professional football franchises.
As a realtor, buyer or seller, the NFL Draft can teach us a lot about how we should approach huge decisions—like purchasing a home.
The NFL teams base their top picks on a bunch of factors, and the same thing comes to home buying. What home we end up choosing as our No. 1 drafted pick should be the best of the best.
While the NFL bases its top picks on factors completely different, here are the top five value factors when it comes to choosing your top picks for your Real Estate Draft.
On many real estate websites, blogs and opinions from realtors, location is a key factor to determining the value of the home. If it is in a good or bad neighborhood will say a lot to if it will even be competitive on the market. Another thing about location is also where the land is located that the home is on—land is always seen as an appreciating value or assets to any home.
While the aesthetics of a home might be a big factor to a buyer, the number of square feet matters to appraisers. The American Society of Appraisers says this is one of the most important factor when putting your home on the market. The more square footage, the more likely it will catch a buyer’s eye to be “drafted.”
This factor takes into account the age of the home, what it was built in and how does the infrastructure work, among other things. You can easily determine this by bringing in a home inspector to check the house out. You don’t want to buy and invest in a home if its going to take more money to fix it up and make it livable. This can drop a home to become a “lower-seeded draft pick” on your Real Estate Draft.
An article on zillow.com tells how homebuyers will pay more knowing that the home they purchased is in a good school district. It is crucial for people that have families or planning to have families. It also allows for good resale if you ever do plan on moving, so think of this in NFL Draft terms. You invest and draft in a really good player; if they decide to leave the team, you can trade them for more other players and at a higher price because you invested well-off in the first place. It may not be the exact same situations, but it’ definitely the same concept.
Amenities and Upgrades
When your home comes with granite countertops, stainless steel appliances and new insulation in the ceilings, it makes it more valuable and a higher pick on buyers’ home search list. In the NFL Draft, they use a combination of how the player did in college and their Combine results as a preview of how well the player will perform in the NFL. This works the same way for homes on the active market. The real estate equivalent of a Combine is a home’s open house. Just how players show off their skills, showing off a home’s amenities and upgrades make it more likely to be “picked up” by a buyer.