9 Top Factors That Influence Home Resell Value

9 Top Factors That Influence Home Resell Value

  • Donna Brongiel
  • 06/3/24

Understanding how different elements impact home resell value can be incredibly helpful for homeowners planning to sell their properties in Lake Geneva, WI. Some of those factors are out of your control–but there are things you can do to increase your home value. By focusing on strategic improvements and keeping up with market trends, you can significantly enhance your property’s value and attract potential buyers. This guide explores the most critical factors influencing home resell value, offering practical tips and insights to help you maximize your investment in the competitive Lake Geneva real estate market.

1. Location, Location, Location

The saying "location, location, location" is still true when it comes to real estate. Homes in prime locations tend to have higher resell values. In Lake Geneva, WI, properties near the lake, for example, are highly sought after. The convenience and lifestyle associated with certain locations significantly boost property values.

2. Market Conditions

How the real estate market is doing plays a crucial role in determining home resell value. A seller's market, defined by high demand and low inventory, typically results in higher home prices. Conversely, a buyer's market with more supply than demand can drive prices down. Staying informed about the current state of the Lake Geneva, WI, real estate market can help homeowners time their sales to maximize returns. Regularly reviewing market trends and consulting with real estate professionals can provide valuable insights.

3. Home Size and Usable Space

The size and usable space of a home are key factors in its resell value. Bigger homes with more bedrooms and bathrooms generally command higher prices. However, the functionality of the space is equally important. Homes with open floor plans, ample storage, and flexible living areas are more appealing to buyers. Enhancements like finished basements, attics, or additional living spaces can significantly increase a property's value.

4. Condition and Age of the Home

The condition and age of a home are critical considerations for buyers. Well-maintained homes with modern amenities and recent updates tend to attract higher offers. Good areas to focus on include the kitchen, bathrooms, and flooring. Upgrading these spaces with contemporary finishes can provide a substantial return on investment. Additionally, homes with newer roofs, HVAC systems, and energy-efficient features are highly desirable.

5. Curb Appeal

Curb appeal plays a vital role in a home's resell value. Homes with attractive landscaping, well-maintained exteriors, and inviting entryways are more likely to catch the eye of potential buyers. Simple improvements like fresh paint, new windows, and updated front doors can make a significant difference. Investing in outdoor living spaces, like patios or decks, also enhances a property's appeal.

6. Home Upgrades and Renovations

Strategic upgrades and renovations can substantially boost a home's resell value. Focus on improvements with good opportunities for the highest return on investment. Here are some key upgrades to consider:

Kitchen Remodels

  • Update countertops: Use high-quality materials like granite or quartz.
  • Install modern appliances: Energy-efficient appliances attract buyers.
  • Enhance storage: Add custom cabinets or a pantry for extra space.

Bathroom Upgrades

  • Replace fixtures: Install new faucets, showerheads, and lighting.
  • Modernize tiles: Use contemporary tiles for a fresh look.
  • Add a double vanity: Provides convenience and luxury appeal.

Energy Efficiency

  • Install new windows: Energy-efficient windows reduce utility costs.
  • Upgrade insulation: Proper insulation improves energy efficiency.
  • Add solar panels: Renewable energy sources are attractive to eco-conscious buyers.


  • Replace old carpets: Use hardwood or high-quality laminate.
  • Refinish hardwood floors: A polished look adds value.

Exterior Improvements

  • Fresh paint: A new coat of paint refreshes the home’s appearance.
  • Landscaping: Invest in professional landscaping for curb appeal.
  • Deck or patio: Outdoor living spaces are highly desirable.

7. Neighborhood Amenities

Neighborhood amenities significantly influence home resell values. Homes located near parks, recreational facilities, shopping centers, and restaurants are more attractive to buyers. In Lake Geneva, properties close to the lake, golf courses, and cultural attractions are particularly sought after.

8. Economic Factors

Economic factors, including employment rates and local economic growth, impact home resell values. Areas with strong job markets and economic stability tend to have higher property values. Lake Geneva benefits from a robust tourism industry, contributing to the local economy and supporting property values. Keeping an eye on economic indicators and understanding their influence on the housing market can help homeowners make informed decisions.

9. Proximity to Transportation

Accessibility to transportation hubs and major highways is an important factor for many homebuyers. Properties with easy access to public transportation, major roads, and airports are more appealing, especially to commuters. In Lake Geneva, homes near major highways and with convenient access to public transit options can command higher prices due to the added convenience.

Partner with Donna Brongiel to Explore Lake Geneva

For more detailed information on how to enhance your home's value or to explore Lake Geneva homes for sale, contact Donna Brongiel today. Whether you're looking to buy or sell, Donna's expertise and local knowledge can guide you through the process, making sure you achieve your real estate goals. Reach out to Donna Brongiel today.

*Header image Courtesy of Donna Brongiel

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