Long-term appreciation is an ownership objective that refers to ________.

Long-term appreciation as an ownership objective specifically refers to the increase in the value of a property over an extended period. This concept is crucial for real estate investors and owners because it reflects the potential for a property to grow in worth, enhancing an investor's equity and overall financial return.

This appreciation typically results from various factors, including market demand, improvements made to the property, and broader economic conditions. Unlike immediate or short-term gains, which might result from fluctuating market trends or renovations, long-term appreciation suggests a steady and sustained increase in property value, which can significantly benefit homeowners and investors in the long run.

The other options do not accurately describe long-term appreciation. Immediate depreciation or appreciation, for instance, does not capture the essence of growth over time, while depreciation refers to a decrease in value that is contrary to the concept of appreciation.