Home prices are continually changing.
Over a long enough period of time, home values , by and large, appreciate.
But, in real estate there are no "sure things".
When your home appreciates you have a more valuable asset to borrow against, and you get a larger profit when you sell.
There are different reasons why property values in Piedmont vary. So, how can you be sure what you're purchasing this year will appreciate over time?
It's critical that you choose a real estate agent in Piedmont who knows the factors that influence local prices.
What is the biggest factor impacting real estate appreciation? Many guess that it's the economy.
interest rates, unemployment, business growth, government programs and a lot of other national determinants have a measurable effect on your house's worth.
However, your house's value and the things that play the most significant role in its appreciation depend on the local Piedmont economy and housing market.
Access to services - People typically want homes in the areas with the most convenient features, like our schools, jobs, and shopping.
So when it comes to retaining their value, these regions typically appreciate the best.
The latest home sales - You should receive reports on the recent real estate sales in the regions that you'd like to live in from your agent. You'll need to learn data like how long a house stays on the market and seller discounts.
The appreciation history - Is the neighborhood thought to be desirable because of its location or affordability? Have house prices increased or decreased over the past 5-10 years?
The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a good blend of job types in an area, or does it rely on just one industry? Is the mix of commercial and residential zoning changing?
Each of these things plays a part.