Real estate prices are forever in flux.
Over a long enough period of time, home values generally appreciate.
But, in real estate there is always a certain amount of risk.
When your property appreciates you have a greater asset to borrow against, and you'll create a bigger profit when you sell.
Property values in Clayton shift for various reasons, so how will you know what you're buying right now won't depreciate the day after you close?
The most important element to consider is that you select an agent in Clayton who can identify the factors that drive local prices.
The economy is believed to be the biggest factor impacting real estate appreciation.
there are quite a few issues on a national level that impact your property's value: unemployment, mortgage rates, the stock market, and more.
However, your property's value and the aspects that play the biggest role in its appreciation depend on the local Clayton economy and housing market.
Access to services - People typically want homes in the areas with the most accommodating amenities, such as our work and schools.
So when it comes to retaining their value, these communities typically appreciate the best.
Recent sales - Your REALTOR® should give you statistics on the recent real estate sales in the districts that you'd like to live in. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the neighborhood believed to be desirable because of its location or affordability? Have property prices increased or decreased over the past 5-10 years?
Local economy - Is there a good mixture of work in an area, or does it depend on just one industry? Have businesses moved into or away from an area? Are local businesses hiring?
These items play a part.