Undoubtedly, the housing market has seen its fair share of ups and downs over the last few years. And unfortunately, that may not change anytime soon. However, the good news is that ROI for Homeowners may be protected from these fluctuations due to some factors you may not have thought about.
Strong Homes Weather the Storm
Our houses do a lot for us.
- They protect us from the elements
- They keep bugs away from us
- They keep us safe from animals
Some homes are better at doing these types of tasks than others. For example, a house made out of brick or stucco will hold up better against the elements than a home with wood siding. Likewise, a home with fiber cement siding will also be stronger.
Because these types of homes are stronger, they retain their value better.
Single-Story Homes 1-Up the 2-Story Homes
We don’t see as many single-story homes as we used to because developers try to maximize the living space of the neighborhood. This is why so many homes are built so close together nowadays.
But because of that and the many benefits of single-story houses – ranches tend to retain their ROI For Homeowners!
Think about it – what’s not to like?
- No carrying things up and down stairs
- It’s easy for all stages of life – from toddlers to seniors – to get around
- You don’t need considerable ladders to get to things
- They’re easier to heat and cool
If you have a single-story home, rest easy knowing it’s holding its value!
Homeowner Associations (HOAs) Help Protect You
HOAs aren’t perfect. It can be frustrating to have rules you must follow, like keeping your garbage can in your garage or behind a fence so it’s not visible from the street. Also, getting fined for having weeds in your yard can be kind of annoying.
But because HOAs prevent homes from getting run down and looking trashy, they also help protect the value of the homes. So while every home will still look a bit different based on decorations, flowers, etc., at least they don’t look bad because the HOA won’t let that happen.
Customized, Niche Homes Hold Value
Let’s compare two homes.
The first is part of a community. It is one of the three models found in the neighborhood. In other words, it’s a cookie-cutter home that essentially looks the same as ⅓ of the other homes in the community.
The second home is a bit different. It was custom designed to be an American Craftsman’s home. There aren’t any other homes like it around, making it stand out and get a lot of attention as people drive past.
Which home do you think will retain its ROI for Homeowners better in a market downturn? Right – not the cookie-cutter home. That neighborhood alone may have several of the same models for sale simultaneously! But the Craftsman will stand out and get a lot more attention and love because it’s more unique.
Does that mean every unique home will hold its value better? Not necessarily – but in general, it does help.
Even if we continue to have ups and downs, not every home is affected similarly. There are some unique ways your home retains its value.
If you plan on selling your house this fall, lean on a trusted mortgage lender and a real estate agent for professional advice on preparing your home.
RCG Home Loans, is here to help navigate the ever-changing home-selling landscape and plan for your next home. Email us at info(at)rcghomeloans(dotted)com or call us at 702.850.2000. We’ll talk to you soon!