We found a nice 4 bedroom home that we have thought of buying and reselling in four years after our military tour here in TX is done. The home is brand new, the street is in final stages of completing the other homes. We found out today from the zoning office that the homes across the street from the perspective home will soon see an apartment complex or townhouses be developed in their backyards. (currently an open field).
Would the developed apartment or townhouses affect the potential resale value of the home we are looking at in a negative way?
The home is 195K and we’d like to sell it for over 225K after four years if the market holds out. presuming just under 10K growth in the area each year… not sure if this is reasonable.
Are there any ways to “forecast” the future or potential future value of realestate? I realize there’s no crystal ball or anything, but what are some things that we should look for location wise that will help us to not loose our shirts while investing short term in a home?
We’ve found the best school districts in the area, narrowed our search to those two areas. We found the newer neighborhoods, the better builders with good reputations, areas that seem to still be developing with new homes and businesses. We checked zoning, flood plains, etc. Anything else we should be considering?