Buying a house is a long-term investment itself, but various factors impact the home’s overall value in the long run. Whether buying a new home or trying to increase the value of a current home, here are some factors for homebuyers and owners to consider.
Homes located in desirable areas are more likely to increase in value. Proximity to good parks, schools, shopping and restaurant options, entertainment and more can help increase a home’s value. Even if the home itself loses value, the property it sits on may help increase its worth.
Usable space plays a significant role in the value of a home. Minimal usable space may limit options for remodels and additions. Homes with more usable space tend to have a higher value and can be a greater long-term investment.
Read more from PA Association of Realtors.