When you buy a home, you want it to retain (and, ideally, grow) its value over time.
But how, exactly, do you determine if a home you are considering purchasing will deliver a return on investment (ROI)—or lose its value in the coming years?
A recent article from realtor.com outlined elements that typically help homes retain their value in the long-term, including:
Classic home design
Homes with a classic, niche design style—like a Colonial, Victorian, or American Craftsman—are timeless. Thanks to their unique design, quality, and high-end craftsmanship, these types of homes are more likely to retain their value over time (particularly when compared to more “cookie cutter” homes).
A single-story layout
Whether because of age, accessibility issues, or preference, some people can’t or don’t want to live in a home with stairs—and will pass on an otherwise great home if it has multiple stories. As such, homes with a single-story layout appeal to a large portion of buyers, which can help the home retain its value when it’s time to sell.
Neighborhoods with a homeowners’ association (HOA) are often extremely well maintained and landscaped. And because these neighborhoods are so well taken care of, homes within the neighborhood are generally in high demand, which can help the property retain its value.
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