How much will your Sequim home appreciate over the next 10 to 20 years? If you’re planning to buy a home in Sequim, you won’t be thinking about selling the home you haven’t even bought yet. Your focus will be on buying the perfect home and living in it for the rest of your life, or at least the next 15 years plus. But somewhere near the bottom of your list of criteria for the perfect home should be a little item called, “is this home the kind of home that will appreciate?” This chart shows how much a $300,000 home will appreciate over the next 20 years if it appreciates at a conservative 3% per year.
Will My Sequim Home Appreciate?
How Much Will My Sequim Home Appreciate?
Even though you are not planning to sell the home you haven’t bought yet, you do want to buy a home that will appreciate, right? Believe it or not, many buyers do not even think about whether their home will appreciate or depreciate after they buy it. Many homes on the market today haven’t sold for years, because they are not sellable today. Why?
A home with a weird floor plan, a home adjacent to a gravel pit, a home beneath the final approach to a busy airport, a home in the middle of a wetland, a home that is in major disrepair, a home in an area no wants wants, a home that is so unique, and the list goes on. There are many logical reasons some homes end up on the market so long and then eventually sell for far less than the owner wanted. This may not seem like a major priority now, but if you knew how many widows in their 80’s (who bought their Sequim homes 20 years ago with their husbands) could not sell their homes and what a financial strain that put on them, you might prioritize this when you buy. Make sure when you hire your Realtor that he or she really has a handle on this subject for your sake, because without a doubt, you want to know before you buy a home the answer to the question, “Will my Sequim home appreciate over the next decade or two?”
Last Updated on December 15, 2013 by Chuck Marunde
