Over time, the value of a property will go up and down.
Over a long enough period of time, home values typically go up.
But, in real estate there are no guarantees.
When your house appreciates you have a greater asset to borrow against, and you'll produce a higher profit when you sell.
There are numerous reasons why property values in DuBois shift. So, how will you be sure what you're buying today will appreciate over time?
It's important that you choose an agent in DuBois who understands the factors that influence local prices.
A lot of people assume that the economy is the biggest factor affecting real estate appreciation.
there are quite a few issues on a national level that influence your property's value: unemployment, mortgage rates, the stock market, and more.
However, your house's value and the things that play the most significant role in its appreciation are specific to the local DuBois economy and housing market.
Location in a community - Being close to schools, employment and amenities like shopping, restaurants and entertainment is a big deal to many buyers and will greatly influence home values.
So when it comes to retaining their value, these communities generally appreciate better than others.
Recent sales - Your agent should give you statistics on the recent home sales in the areas that you're interested in. You'll want to know average time on market, selling versus listing price and more.
History of appreciation - In the last 5 to 10 years, have property prices increased or decreased? Does location or affordability affect how desirable the area is thought to be?
The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a nice blend of jobs in an area, or does it rely on just one industry? Is the mix of commercial and residential zoning changing?
These items play a part.