Real estate values are constantly moving up and down.
Property values appreciate in the long term almost always.
But, of course, in real estate there is always a certain amount of risk.
When your property appreciates you have more resources to borrow against, and you get a greater profit when you sell.
But how will you be sure what you're purchasing now will appreciate over time? Property values in DuBois waver for numerous reasons.
The most important thing is that you pick a REALTOR® in DuBois who understands the factors that drive local prices.
The economy is assumed to be the most influential factor affecting real estate appreciation.
there are a lot of issues on a national level that impact your property's value: unemployment, interest rates, business growth, and more.
But the most important things that decide your property's value are particular to the local DuBois economy and housing market.
Access to services - Proximity to schools, jobs, and amenities also have a significant impact on almost all home buyers' decisions.
So those areas often appreciate, or keep their value, best.
Recent sales - Your REALTOR® should provide you with statistics on the recent home sales in the regions that you'd like to live in. You'll want to know average time on market, selling versus listing price and more.
History of appreciation - In the past 5 to 10 years, have property prices gone up or down? Does location or affordability affect how desirable the neighborhood is believed to be?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a fair mixture of job types in an area, or does it rely upon just one industry?
Each of these factors plays a part.