Over time, the worth of a house will fluctuate up and down.
Property values appreciate in the long term usually.
But, of course, in real estate there is always a certain amount of risk.
When your home appreciates you have a larger asset to borrow against, and you get a greater profit when you sell.
Property values in DuBois waver for different reasons, so how will you be sure what you're investing in now won't depreciate the day after you close?
It's important that you go with a REALTOR® in DuBois who recognizes the factors that affect local prices.
What is the top factor affecting real estate appreciation? Many think that it's the economy.
It goes without saying that
there are a lot of factors on a national level that impact your property's value: unemployment, interest rates, quarterly earnings reports, and more.
But the most important issues that decide your home's value depend on the local DuBois economy and housing market.
Location in a community - Proximity to schools and jobs also have a significant impact on most home buyers' choices.
So when it comes to holding their value, these communities consistently appreciate better than others.
Recent sales - Your real estate agent should give you reports on the recent real estate sales in the neighborhoods that you're interested in. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the area thought of as desirable because of its location or affordability? Have home prices gone up or down over the last 5 to 10 years?
Economic factors - Have businesses moved into or away from an area? Are local companies hiring? Is there a nice mix of job types in an area, or does it count on just one industry?
Each of these factors plays a part.