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« What's the best type of heating system to look for in your next home? | Main | Is an Older Home a Better Value to Buy Than a Newer one? »
Wednesday
Jun292011

Which style homes have the best resale value?

If a group of particular homes are all the same square footage, all have the same amount of bedrooms, the same amount of baths, all have the same lot size, and the same features and are in the same neighborhood, or the same type of neighborhood, will one style of home  have better resale than the others?

The answer is YES.

There seems to be a type of "pecking order"  that is true for our area of Southwestern Connecticut. Now, you may take that same grouping and put it another part of the country, and it may not be so- but I can tell you that it's historically true here, and certain types of homes have traditionally sold faster, and for more money than other style homes

First, let's go over the six most common single family home styles (in no particular order)

Ranch -single floor, one level home.

Cape or Cape Cod - classified as one and a half story home. Second story ceilings may be lower, and second floor rooms have angled ceilings (along the roof line) 


Colonial- a full two story home, usually box-like in structure

 

 

 Split Level - a multi-level home, usually with three or four levels. The entry door is to the main living area, and the second floor is a half flight of stairs up, and a lower level is a hlaf flight of stairs down.

 

Raised Ranch- two level home, entry is a landing where you can go up a few stairs to the living area, or down to the lower level.


Contemporary- a home that does not fit into the above categories, generally with an open floor plan, can have angled ceilings, cathedral ceilings.

 

The "pecking order" of marketability of these style homes is as follows:
1. Colonial
2. Cape Cod
3. Ranch
4 and 5. Raised Ranches and Split Levels
6. Contemporaries

So, all things being equal in each of these homes, a Colonial would have the highest resale value , while a Contemporary would have the lowest. Pricing tends to descend down the scale due to marketability. It doesn't mean that you shouldn't buy anything other than a Colonial. A Ranch style home will most often be less, and it may fit your lifestyle better. You may like the contemporary style, and find that you can get more for your money. Whatever your reason is for buying a particular home, when you are ready to sell, most often your buyers will want your home for the same reason.

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