What is the risk of my house not appreciating in value?
I just received a question from a buyer in Ashburn, Virginia, about the difference between condos versus townhouses versus single-family homes. Is there a better one to buy in terms of appreciation?
There is the sense that a condominium is not going to appreciate at the same rate as some of the other properties would. That actually is not true, at least not in our area. I cannot speak for other areas, but in Northern Virginia, the properties appreciate at relatively the same rate.
Of course, if they all appreciate at 5% hypothetically, 5% is going to look different on a $300,000 condo versus a $400,000 townhouse versus a $500,000 single-family home. It does look different, but it is the same rate. So, I do not think that by buying a condo that you are somehow not going to get the same appreciation. If ever you have any questions in the real estate space, call 571-393-1082 or email [email protected].