Over time, the value of a home will fluctuate up and down.
Over a long enough period of time, house values generally go up.
But, in real estate there is always a certain amount of risk.
When your house appreciates you have more resources to borrow against, and you'll generate a larger profit when you sell.
But how do you know what you're investing in today will appreciate over time? Property values in Cary go up and down for many different reasons.
The most important factor to consider is that you go with an agent in Cary who recognizes the factors that influence local prices.
What is the number one factor impacting real estate appreciation? Many believe that it's the economy.
It goes without saying that
there are several factors on a national level that alter your home's value: unemployment, mortgage rates, business growth, and more.
But the most significant issues that determine your home's value depend on the local Cary economy and residential market.
Access to services - Most people want homes in the districts with the most convenient amenities, such as our schools, jobs, and shopping.
So those communities consistently appreciate, or keep their value, best.
Recent sales - Your agent should provide you with statistics on the recent home sales in the districts 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 past 5-10 years, have property prices gone up or down? Does location or affordability affect how desirable the community is thought of as?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a good mix of jobs in an area, or does it rely upon just one industry?
These items play a role.