What type of home sells best?

delcorealty.com - Which Styles of Home Have the Best Resale? - Del-co Realty Group

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Which Styles of Home Have the Best Resale?

If you are buying a home that you already know you are going to sell in a few years, then there are many different factors you will want to consider. For example, homes on larger lots usually have a higher resale value. Those with the most features will often fetch the highest price. Of course, the number of bedrooms and bathrooms makes a considerable difference in the amount that you can expect to get when you sell the home. It turns out that certain styles of homes have a better resale value than other styles.

Ranch

At the top of the list, according to Market Watch, are ranch-style homes. As Americans age, many are preferring the ranch-style home because it is built all on one level. This makes it easier to get around inside the house. When compared to many housing styles that were built much earlier, these homes often require very little maintenance because the home’s infrastructure is newer.

Colonial

Colonial-style homes have the highest resale factor when all other elements are equal. These two-story homes that often have a boxlike appearance are popular because of the amount of functional living space that they often have. Many homeowners also prefer their minimalistic design. Since these homes usually have windows that go all the way around the home’s exterior, it is also easy to let natural light into them.

Bungalows

Bungalows come in third on the list of home styles that have a higher resale value when all other factors are equal. These homes, including Craftsman-style buildings, are usually 1.5 stories tall, but most of the living space is on the first floor. Their open floor plans often make them an excellent choice for young families as it is easy for parents to see what their children are doing while they are busy doing something else.

Split-Level

These homes usually have multiple stories with low ceilings so that the levels can be placed closer together. They also often have living space above the garage. These homes are typically mid-priced because the lots they sit on are usually smaller. People must also be willing and able to climb up and down the stairs multiple times daily. In some cases, the bedrooms are above the garage, which can leave potential buyers fear that they will hear other family members coming and going while they are trying to sleep.

Victorians

Victorian homes are usually some of the oldest in America, and the upkeep on them can be tremendous. Since most were constructed before 1900, buyers are often afraid that they may have to redo the home’s electrical and plumbing systems, which can be very costly. The style of home that you buy can ultimately affect its resale value. Keep in mind, however, that if you are going to live in the house that you need to purchase one that you love. The things that you love about the home are likely to entice other buyers to love it too.

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age 65 or older General Information. The Homestead Exemption is a property tax reduction available by application to seniors (age 65 or older) and the disabled (permanent/total). In 1970, Ohio voters approved a constitutional amendment permitting this exemption that reduced property taxes for eligible lower income home owners.

butlercountyauditor.org - Homestead Exemption and Owner Occupancy Credit

Homestead Exemption and Owner Occupancy Credit

The Homestead Exemption

The Homestead Exemption is a property tax reduction available by application to seniors (age 65 or older) and the disabled (permanent/total). In 1970, Ohio voters approved a constitutional amendment permitting this exemption that reduced property taxes for eligible lower income home owners. In 2007, the General Assembly expanded the program to include all seniors, regardless of income. In 2013, the General Assembly again applied an income limit to determine those eligible. However, homeowners enrolled in the program for tax year 2013 (2014 for manufactured homes) remain exempt from income verification even if they move and owner-occupy another home in Ohio. In 2015, 100% disabled Veterans, regardless of income, qualified for up to twice the savings. New in 2016, disabled Veterans that have a total (100%) disability rating for compensation by the VA may qualify for the double benefit. Read more details by clicking on the Who Qualifies and Disabled Veterans links at left. Application forms are also available at left.

Owner Occupancy Credit

To receive up to a 2.5% tax reduction on an owner-occupied home in Ohio, you must own and occupy that home as your principal place of residence (domicile) on January 1 of the year you file for the reduction. A homeowner and spouse are entitled to this credit on only one home.

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