Which Styles of Home Have the Best Resale? (2024)

FAQs

What style of home has the highest resale value? ›

Colonial. Colonial-style homes have the highest resale factor when all other elements are equal. These two-story homes that often have a boxlike appearance are popular because of the amount of functional living space that they often have.

White painted siding has the highest resale value, but it's also one of the most complex colors to maintain since it shows dirt and grime easily. Off-White – Off-white or light-colored paint colors are trendy in homes today because they make rooms look larger and help reflect more light.

But in reality, the larger the property, the longer it stays on the market. The places that sold the quickest—on average, 86 days—were between 1,500 and 2,000 square feet and priced at about $194,000.

The price is right

Lower-priced starter homes are winning most buyers' hearts. Homes listed at between $200,000 and $250,000 were sold in 83 days on average, significantly faster than in any other price range. And of course the more expensive the home, the fewer buyers can afford it.

Question: What type of property appreciates faster — condo, townhouse, or single-family? Answer: Since 2012, the data is clear — single-family homes appreciate the fastest, followed by townhouses/duplexes, and then condos. Since 2012, the average single-family home has appreciated 69% compared to 27% for condos.

Fresh Paint will make your Home look Expensive

Light airy neutral paint colors make a room look expensive. Choose from white, beige (yes beige is back!), cream and off-white colors. Dark brown and black are also on trend so will make your interiors look more upscale as well.

New paint colors can transform a room's atmosphere and increase your home's value—if you choose the right paint color. "Generally, going with neutral colors like shades of white, beige, taupe, and grays lead to a faster sale," she shares.

Ultimately, the financial backing in a deal determines the property's value, and it's most often a mortgage lender making the call. Property valuation primarily takes into account recent sales of comparable properties in the area.

Most will agree that selling a furnished home is preferable to an unfurnished one—but only if you stage it right. It's likely to sell quicker and at a higher price. However, the staging also requires you to buy new, neutral furniture or rent furniture specifically for viewings.

What size house is easiest to sell? ›

According to recent data, the house size that sells much faster than other homes is 1,500 and 2,000 square feet. Most notably, smaller houses tend to sit on the market for a shorter time than larger homes.

The rooms buyers most closely inspect (and judge) in a house are the kitchen and master bath. These are the interior spaces where the most value can be added during a sale, so they need to look their best.

A Size With Universal Appeal

Since Southern Living has so many unique house plans in our collection, we've come to learn which are the best and most-loved layouts for each stage of life. And if you ask us, the perfect size for a retirement home is 1,500 square feet.

What Types of Commercial Properties Are the Most Profitable? High-Tenant Properties – Typically, properties with a high number of tenants will give the best return on investment. These properties include RVs, self-storage, apartment complexes, and office spaces.

Nashville was the hottest market, with an average listing time of 14 days. Seattle was the second fastest-moving, averaging 17 days. Omaha and Salt Lake City both averaged 18 days, and Cincinnati, Birmingham, Charlotte, Denver, Las Vegas, Manchester and San Francisco were also among the busiest.

Sellers can net thousands of dollars more if they sell during the peak months of May, June and July versus the two slowest months of the year, October and December, according to a 2022 report by ATTOM Data Solutions.

Answer: Since 2012, the data is clear – single-family homes appreciate the fastest, followed by townhouses/duplexes, and then condos. Since 2012, the average single-family home has appreciated 69% compared to 27% for condos. single-family homes.

The Appraisal Institute defines highest and best use as “the reasonably probable and legal use of vacant land or an improved property that is physically possible, appropriately supported, financially feasible and that results in the highest value.” Appraisers typically apply four tests to determine that use.

The three most important factors when buying a home are location, location, and location. Too often I hear people talking about making decisions based on the home itself, instead of the location, and that is a mistake. What is it about the location that makes it so vital to real estate investing?

What color house sells the least? ›

According to data by Kissmetrics, colors influence how we interpret what we purchase. If you're looking to attract impulse buyers, look to red, orange, black, and royal blue. Shoppers on a budget, however, will find navy blue and teal hues appealing.

Red is the color of power. It gets people's attention and it holds it, which is why it's the most popular color for marketing. The word SALE is always red, and you'll often find red a common tie color for professionals.

Slate Gray

Gray is a popular and well-liked paint color choice, but you have to be careful when selecting the shade. Choosing the wrong shade of gray may either increase or decrease the final sale price of your home by more than $1,000.

The Kitchen Color That Increases Value

Instead of a red kitchen, try white. White brings a fresh, bright palette to the kitchen and is the most attractive for potential homeowners. In fact, it was found that light, neutral colors will increase interest in a property as well as potential offers.

“I have seen cabinets successfully painted shades of white, gray, navy, deep green, and even black,” Lozada says. She says light neutrals are generally the best colors for resale because they appeal to most people, but she advises against painting cabinets taupe or beige.

There are several siding colors that offer the best resale value for your home, including light neutrals, blues, grays, light browns, white, neutral greens and tans and earth tones.

White Is a Cool, Timeless Option

For exterior paint to keep your house cool, white is a popular choice. It brightens the look of your home and reflects light, and therefore heat, from the sun. If you have excessive cooling costs during warmer seasons, a white house may be the solution.

Changes in the real estate market can lower the value of your home. Natural disasters and climate change can lower your property value because the property is a greater risk to purchase. Foreclosures in your neighborhood can also drive down property value.

At what age does a house start losing value? ›

If you haven't renovated your home in the past 30 years or so, it won't show well when you put it on the market. In other words, it won't get the same price as a similar home that's been maintained and updated.

How accurate is the Zestimate? The nationwide median error rate for the Zestimate for on-market homes is 2.4%, while the Zestimate for off-market homes has a median error rate of 7.49%.

The less mess and stuff they see, the more they can focus on picturing themselves in your home. Messy homes look like they need work. If someone does make an offer, they will come in lower anticipating cleaning, painting, and updating the home. Your messy home could sell for less money.

The bottom line: An occupied home will typically sell faster and for a higher price than a vacant house. But, if you have no choice and must sell a vacant home, talk to your REALTOR® for tips and ideas on how to properly stage the home for a successful sale.

Typically, a lowball offer is considered to be at least 20% below the asking price. If you're offering 10% below, the property should be in a good condition but may just need some cosmetic work done. The goal of offering 10% below the asking price is to use those extra funds to cover the repairs.

If less than 20% of your income goes to pay down debt, a home that is around 4 times your income may be suitable. If more than 20% of your monthly income goes to pay down existing debts in the household, dial the purchase price to 3 times.

Smaller homes are less expensive to purchase and less expensive to keep (insurance, taxes, heating, cooling, electricity, etc.) 4. Living small means you go into less debt and less risk.

So the short answer to “does new flooring increase home value?” is yes—if you're smart about your selections. The right upgrades also make your house move faster on the market. Follow these 5 pro tips to get the most out of this wise home investment.

Supply and demand. The basic law of supply and demand have a major effect on the housing market. Simply put, as the housing supply decreases or as demand rises, creating an inventory shortage, home values go up. A real estate inventory shortage means that there are fewer sellers than there are buyers.

What are the 2 most important rooms in a house? ›

The kitchen and the master bathroom. Buyers tend to show more interest in these rooms than any other in a home.

Don't price it too low

Listing a home below its market value is a strategy some sellers use to generate interest in the property and possibly spark a bidding war. It's also used by sellers who need to sell their property quickly. But price your house too low and you could end up leaving some serious money on the table.

An unrealistic price tag is a common issue

Several agents said that when a home isn't selling, it's probably because the price is too high. "An unsellable home is one that is not priced right," said Noemi Bitterman of Warburg Realty, who handles sales in New York City for homes between $500,000 and $1.75 million.

As adults age into their 50s and 60s, many of them are ready to downsize. That often means purchasing a townhouse to trim maintenance or a smaller one-story home to keep stair climbing to a minimum.

In these lower-rate years, many retirement-age clients chose to buy larger homes, said Megan Fox, a real estate broker with Compass in Bergen County, New Jersey. “The idea was to have spaces big enough for their extended families to visit and stay for longer periods of time,” she said.

The 70-80% Spending Rule

Retirement advisors at Fifth Third Securities generally agree that a good rule of thumb for estimating your future spending is to multiply your current monthly spending by 70-80%.

However, it's safe to say that the least popular styles (Italianate, Spanish Colonial, and French Chateau) are also the least commonly seen on American streets.

Stone and brick houses last the longest. If you are using wood, choose a hardwood for durability. A one-storey house will last longer because it is easier to maintain. Steel-frame techniques are also more durable for building houses than traditional stick-framing techniques and can last for 100+ years.

Like geodesic dome homes, tiny homes are more energy efficient than other builds because they have less surface area. However, tiny homes are more efficient because they are smaller overall while geodesic dome houses are efficient because of their particular shape.

What is the most efficient house shape? ›

When it comes to the most efficient building shape, uncomplicated dome and cube structures retain the most heat. This is because the air can circulate more efficiently around a dome whilst a cube has the smallest surface area to floor area ratio, so it loses minimal amounts of heat.

What hurts property value can be things specific to your house — such as deferred maintenance issues, outdated kitchens and bathrooms, or a noisy location — or by outside factors such as your local real estate market or the state of the overall economy.

Bathroom additions return the most, according to Remodeling magazine's report — an average of 86.4 percent. The addition of attic bedrooms, family rooms and sunrooms returned anywhere from 70 to more than 80 percent of the money spent — and that doesn't factor in the value of your own enjoyment of all that new space.