Over time, the value of a property will fluctuate up and down.
Property values appreciate in the long term in most cases.
But, of course, in real estate there is always a certain amount of risk.
When your house appreciates you have a greater asset to borrow against, and you'll generate a larger profit when you sell.
Property values in DuBois waver for a variety of reasons, so how can you be sure what you're buying today won't depreciate the day after you close?
It's important that you choose a real estate agent in DuBois who can identify the factors that affect local prices.
What is the number one factor impacting real estate appreciation? Many assume that it's the economy.
It goes without saying that
there are many factors on a national level that impact your house's value: unemployment, mortgage rates, quarterly earnings reports, and more.
But the most important issues that determine your house's value depend on the local DuBois economy and residential market.
Location in a community - Proximity to jobs and schools also have a major effect on many home buyers' choices.
So when it comes to retaining their value, these regions typically appreciate the best.
The latest home sales - You should receive figures on the recent real estate sales in the regions that you're asking about from your REALTOR®. You'll want to know data like how long a house stays on the market and asking price as opposed to selling price.
History of appreciation - In the last 5-10 years, have house prices gone up or down? Does location or affordability affect how desirable the neighborhood is thought to be?
The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a nice mixture of business in an area, or does it count on just one industry? Is the mix of commercial and residential zoning changing?
Each of these items plays a role.