Dublin home prices: Need some help understanding why they appreciate?
Property prices are constantly moving up and down. Generally, property values appreciate in the long term. But, of course, in real estate there is always a certain amount of risk.
When your property appreciates you have more resources to borrow against, and you'll realize a higher profit when you sell. There are many different reasons why property values in Dublin shift. So, how will you be sure what you're investing in today will appreciate over time? Choosing a real estate agent in Dublin who can identify the factors that influence local prices is the most important part.
What is the most influential factor impacting real estate appreciation? Many assume that it's the economy. Clearly, there are several issues on a national level that affect your house's value: unemployment, interest rates, quarterly earnings reports, and more. But the most significant things that determine your house's value are specific to the local Dublin economy and housing market.
Access to services - Proximity to schools and jobs also have a great effect on many home buyers' choices. So these areas consistently appreciate, or carry their value, best.
Recent home sales - You should receive stats on the recent real estate sales in the districts that you'd like to live in from your REALTOR®. You'll want to analyze data like time on market and asking price versus selling price.
Appreciation history - Have house prices increased or decreased over the last 5-10 years? Is the neighborhood thought to be desirable because of its location or affordability?
Local economy - Is there a fair combination of jobs in an area, or does it rely on just one industry? Have businesses moved into or away from an area? Are local companies hiring? Each of these elements plays a role.