Over time, the worth of a house will go up and down.
Normally, house values appreciate in the long term.
But, in real estate there is always a certain amount of risk.
When your house appreciates you have more equity to borrow against, and you make a greater profit when you sell.
There are many different reasons why property values in Flowery Branch move up and down. So, how can you be sure what you're purchasing now will appreciate over time?
Choosing a REALTOR® in Flowery Branch who knows the factors that influence local prices is the most important element to consider.
Many are convinced that the economy is the most critical factor impacting real estate appreciation.
Clearly,
there are a lot of issues on a national level that adjust your house's value: unemployment, mortgage rates, the stock market, and more.
However, your home's value and the elements that play the biggest role in its appreciation are specific to the local Flowery Branch economy and housing market.
Access to services - Proximity to schools, jobs, and amenities also have a major impact on many home buyers' choices.
So when it comes to retaining their value, these communities often appreciate better than others.
Real estate sales trends - How long are homes on the market? Are sellers having to discount much or offer concessions Some information can often be obtained from public records, but a good agent with a login to the local MLS will often provide a more complete picture.
The appreciation history - Is the neighborhood thought of as desirable because of its location or affordability? Have house prices gone up or down over the past 5 to 10 years?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a nice combination of job types in an area, or does it rely on just one industry?
All these play a part.