DO ALL HOMES APPRECIATE? ????

[Keith Turley]

What factors will cause a home to appreciate? And would buying a home that was built under a certain year not have a chance of appreciation. In advanceThank you all for your responses.

[Bob Okenwa]

@Keith Turley

In general, homes by themselves typically don't appreciate, it's the land underneath it that does. Houses are physical structures that depreciate and decay over time. While you can continuously update a home to keep the value at its peak, even a tear-down ready shack built in 1928 will be valued in the same realm as other homes around it if it is in a good neighborhood. It's all about location. Where I live, I see the same models of new construction homes  by the same company differ by 30k-40k despite only being 8 or 9 miles apart. Location, location, location. Your local market will determine the appreciation of the home. You can build a brand new 4000 sq. ft. house in the middle of an abandoned neighborhood in Detroit and it probably still won't appraise for all that much due to its locale.