Over time, the value of a property will fluctuate up and down.
Property values appreciate in the long term almost always.
But, of course, there is always a certain amount of risk in real estate.
When your home appreciates you have a more valuable asset to borrow against, and you get a greater profit when you sell.
But how do you know what you're buying this year will appreciate over time? Property values in Swainsboro fluctuate for various reasons.
The most important thing is that you choose a real estate agent in Swainsboro who understands the factors that influence local prices.
A lot of people believe that the economy is the top factor impacting real estate appreciation.
interest rates, unemployment, job growth, government programs and many other national factors have a measurable influence on your house's value.
However, your property's value and the factors that play the most significant role in its appreciation are particular to the local Swainsboro economy and housing market.
Access to services - Convenient access to schools, work and amenities like shopping, restaurants and entertainment is important to a lot of buyers and will greatly influence home values.
So when it comes to retaining their value, these communities generally appreciate much more reliably than areas lacking key features.
Recent sales - Your REALTOR® should provide you with facts and figures on the recent home sales in the areas that you're asking about. You'll want to know average time on market, selling versus listing price and more.
History of appreciation - In the last 5-10 years, have home prices risen or declined? Does location or affordability affect how desirable the neighborhood is thought to be?
Local economy - Is there a good mix of business in an area, or does it rely on just one industry? Have companies moved into or away from an area? Are local companies hiring?
These items play a part.