Understanding Dublin property appreciation
Over time, the worth of a property will go up and down. By and large, property values appreciate in the long term. But, in real estate there are no guarantees.
When your house appreciates you have a greater asset to borrow against, and you'll see a larger profit when you sell. But how do you know what you're purchasing now will appreciate over time? Property values in Dublin go up and down for numerous reasons. It's imperative that you select a REALTOR® in Dublin who is familiar with the factors that drive local prices.
The economy is assumed to be the most important factor affecting real estate appreciation. Obviously, there are numerous issues on a national level that alter your house's value: unemployment, mortgage rates, quarterly earnings reports, and more. But the most important issues that decide your property's value are specific to the local Dublin economy and housing market.
Access to services - Being close to schools, jobs and amenities like shopping, restaurants and entertainment is a priority to a lot of buyers and will greatly influence home values. So when it comes to retaining their value, these communities typically appreciate better than others.
Real estate sales trends - What's the time on market? What was the final sales amount versus the listing price? Some information can often be retrieved from public records, but a good agent with access to the local MLS will often provide a more complete picture.
Appreciation history - Have home prices gone up or down over the past 5-10 years? Is the area believed to be desirable because of its location or affordability?
The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a nice blend of jobs in an area, or does it rely upon just one industry? Is the mix of commercial and residential development changing? These items play a role.