Real estate values are continually changing.
Over a long enough period of time, home values normally go up.
But, of course, in real estate there are no "sure things".
When your home appreciates you have a more valuable asset to borrow against, and you'll create a greater profit when you sell.
There are different reasons why property values in DuBois go up and down. So, how will you be sure what you're investing in right now will appreciate over time?
The most important thing is that you choose a REALTOR® in DuBois who is familiar with the factors that drive local prices.
A lot of people guess that the economy is the most critical factor impacting real estate appreciation.
there are several issues on a national level that influence your house's value: unemployment, interest rates, inflation, and more.
However, your home's value and the features that play the biggest role in its appreciation are specific to the local DuBois economy and housing market.
Access to services - Proximity to schools and jobs also have a significant effect on almost all home buyers' decisions.
So when it comes to retaining their value, these regions often appreciate the best.
Recent home sales - You should receive information on the recent real estate sales in the regions that you'd like to live in from your agent. You'll need to learn figures like time on market and seller discounts.
History of appreciation - In the past 5 to 10 years, have house prices gone up or down? Does location or affordability affect how desirable the community is thought to be?
The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a good mix of jobs in an area, or does it depend on just one industry? Is the mix of commercial and residential development changing?
All these play a part.