Factors that drive long-term appreciation (besides location)
Hi y'all! Hoping this awesome community can share some wisdom for the home I'm planning to purchase in the next 6 months in East or South Austin.
I know appreciation is a dirty word in some investing circles but my guess is real-estate investors in Austin may be more in touch with planning for appreciation.
Aside from location, what are some factors that you see as improving prospects for long-term appreciation of a single family home or duplex in Austin? I understand of course that this will depend on certain future unknowns. I am sure though that there are still certain property attributes that will drive appreciation regardless of exactly how much home prices rise overall. I’m talking 10+ years here in the Austin market.
Factors that I would love some insight in:
-SFH vs duplex? (This is a big one for me since I'm considering SFH vs house hacking a duplex)
-ADU potential for a SFH (7500 sq ft plot)?
-Buildable land in general
-Other zoning issues?
-Newer build vs “needs work”?-Neighborhood/schools?
-Proximity to rail?
TLDR: I realize that long-term appreciation will be a huge factor in my housing finances (once I eventually sell this thing). What should I be looking for to maximize this?