When you buy a home in Oakland County, Michigan, you want it to retain (and, ideally, grow) its value over time, but how exactly do you determine if a home you’re considering purchasing will deliver a return on investment (ROI)—or lose its value in the coming years? In this short article you will learn some of the best ways to keep your home’s value on track for the future.
Retaining Yor Homes Value
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.
- HOA membership. 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.
Farmington Hills MI REALTOR® -Tom Gilliam has a well-earned reputation for being a local expert in Farmington Hills MI homes for sale and other areas in the Oakland County Michigan area, including Novi MI homes for sale, Northville MI homes for sale, West Bloomfield MI homes for sale, Ferndale MI homes for sale, Royal Oak MI homes for sale, and Birmingham MI homes for sale, just to name a few. Selling your home or buying a new home can be a rewarding experience with the right real estate agent, Tom shines in all aspects of the real estate profession.