When it comes to houses in Thunder Bay it is important to take into consideration its potential resale value. At some point in time it will be likely that you will have to up size, downsize, relocate or you heirs may have to sell your real estate when you part with your earthly possessions. The wise real estate buyer will "make their money on the front end" by making some strategic decisions when they initially buy their property.

When you decide that you want to purchase and you start looking at Thunder Bay houses you must keep in mind the potential resale values as just one part of your overall buying criteria. By doing this you will end up eliminating some houses that will not be suitable for you. Keep in mind that it is important that you buy a house that you personally will like according to your own tastes and preferences. However it is also important that you find a property that other people will like too so that when it comes time to sell it will be equally as desirable for someone else. Here are a few tips to start you out:

1. Location - Over time, the desirability of certain area within Thunder Bay can change. Some areas may move up and down a touch, but there are a few key things desirable areas almost always have. The proximity to a good school can raise the value of a property. You may find a jewel of a location but what is the state of the surrounding neighbourhoods like? Are they considered rougher areas? Or are they growing in demand areas that are on the upswing? Who else is investing in the area? Are there any new developments or new commercial properties under construction? Remember location is a key element to resale value. If you buy in the right location you are adding to the probabilities of having a high future valuation.

2. Demographics of the current and future buyers and neighbours - You have to speculate a bit here about the future demographics of Thunder Bay. The trend is your friend and knowing what future trends are shaping up can create value for you in the future. Will the Baby Boomers downsize and push up the demand for condos and core floors? Or will large families somehow make a resurgence? Keep in mind the type of buyer how might be looking to purchase your home in the future but don't be blinded by this one factor because nobody's crystal ball works properly 100% of the time. Know what kind of demographic your proposed new neighbourhood attracts because your neighbours can play a large part in how your future valuation shapes up.

3. Renovations on the horizon? - Keep an eye out for ways that you can instantly add value to a new property. Outdated but easy to renovate items can bring an instant boost to the houses bottom line. Look for poor or no landscaping, old kitchen cupboards, slightly weathered exterior, old light fixtures, old flooring or old kitchen and bathroom fixtures.

4. Fully loaded houses! - Look for features that sell, more than one bathroom, plenty of closet space and ample storage areas are all high on just about every house hunters list.

5. Poor showmanship - Some people take no effort to stage a house for it's maximum viewing and valuation potential. Look to find ways that you would present a house differently to show it off more and demand more value. Maybe trees can be trimmed to create a better view. The excess furniture or clutter may be causing some buyers to completely discount the size of the living area and subsequently keeping the valuation lower than it could be. Always look for ways to create the highest and best use of any real estate you look at. The more houses in Thunder Bay that you look at, the better you will get at finding ways to create value.

At the end of the day by pausing and taking the five items discussed above you can create value and "Make Money On The Front End" when buying a house in Thunder Bay.