Resale value refers to the amount of money a product or asset can be sold for after its initial purchase. This value can vary based on factors such as condition, demand, and market trends. For example, a car that is well-maintained may have a higher resale value compared to one that has significant wear and tear. In real estate, the resale value of a home can be influenced by its location, size, and the overall housing market. Homeowners often consider resale value when making renovations or improvements, aiming to increase the potential selling price in the future.