Over time, the worth of a home will fluctuate up and down.
House values appreciate in the long term for the most part.
But, in real estate there is always a certain amount of risk.
When your home appreciates you have a more valuable asset to borrow against, and you get a higher profit when you sell.
There is a variety of reasons why property values in Flowery Branch rise and fall. So, how will you be sure what you're investing in right now will appreciate over time?
The most important thing to consider is that you go with a REALTOR® in Flowery Branch who knows the factors that influence local prices.
Many are convinced that the economy is the greatest factor affecting real estate appreciation.
Naturally,
interest rates, employment, job growth, government programs and quite a few other national determinants have a noticeable effect on your house's worth.
But the most influential issues that determine your home's value are specific to the local Flowery Branch economy and residential market.
Access to services - Convenient access to schools, employment and amenities like shopping, restaurants and entertainment is important to a lot of buyers and will greatly influence home values.
So these areas consistently appreciate, or carry their value consistently, year to year.
Recent sales - Your REALTOR® should give you figures on the recent real estate sales in the regions that you're interested in. You'll want to know average time on market, selling versus listing price and more.
Appreciation history - Have house prices increased or decreased over the past 5 to 10 years? Is the neighborhood thought to be desirable because of its location or affordability?
Local economy - Is there a fair combination of job types in an area, or does it rely on just one industry? Have businesses moved into or away from an area? Are local companies hiring?
These items play a part.