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Resale Value
The resale value is a term for the value of a property at some time in the future. Several factors can influence the resale value of a home, including the condition of the neighborhood, nearby amenities, potential expansion in the vicinity, quality of schools as well as the overall economy and housing market. Sellers have realized diminished resale value on their homes when the neighborhood has experienced an influx of foreclosed homes or if homes have sold for below market value. When buying a home, one should consider its resale value. Buying a newly constructed home located in a new housing development may increase the chances of a higher resale value. This is because homes will continue to be built around the property, and subsequent sales prices may go up.