Over time, the worth of a piece of real estate will go up and down.
Typically, house values appreciate in the long term.
But, of course, in real estate there are no guarantees.
When your home appreciates you have more equity to borrow against, and you'll generate a greater profit when you sell.
But how do you know what you're investing in this year will appreciate over time? Property values in Piedmont move up and down for a variety of reasons.
It's imperative that you select an agent in Piedmont who recognizes the factors that drive local prices.
What is the major factor impacting real estate appreciation? Many assume that it's the economy.
interest rates, employment, job growth, government programs and a handful of other national determinants have a noticeable influence on your house's worth.
However, your home's value and the aspects that play the biggest role in its appreciation are particular to the local Piedmont economy and housing market.
Access to services - People typically want homes in the districts with the best and most convenient amenities, such as our jobs and schools.
So these areas often appreciate, or carry their value consistently, year to year.
The latest home sales - You should receive reports on the recent real estate sales in the regions that you're asking about from your agent. You'll want to analyze figures like how long a house stays on the market and asking price as opposed to selling price.
History of appreciation - In the past 5 to 10 years, have property prices gone up or down? Does location or affordability affect how desirable the area is thought to be?
The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a nice mix of business in an area, or does it rely upon just one industry? Is the blend of commercial and residential zoning changing?
All these play a part.