Over time, the value of a piece of real estate will fluctuate up and down.
Over a long enough period of time, house values usually go up.
But there is always a certain amount of risk in real estate.
When your house appreciates you have more equity to borrow against, and you'll realize a bigger profit when you sell.
There is a variety of reasons why property values in Dublin move up and down. So, how can you be sure what you're investing in presently will appreciate over time?
It's imperative that you pick a real estate agent in Dublin who understands the factors that affect local prices.
A lot of people are convinced that the economy is the greatest factor impacting real estate appreciation.
It goes without saying that
interest rates, employment, business growth, government programs and numerous other national determinants have a measurable influence on your house's value.
However, your home's value and the aspects that play the most significant role in its appreciation depend on the local Dublin economy and housing market.
Access to services - Proximity to work and schools also have a major impact on all home buyers' choices.
So these regions typically appreciate, or carry their value consistently, year to year.
Real estate sales trends - How long do homes typically stay on the market? Are sellers needing to discount much or offer concessions Some information can be retrieved from public records, but a good agent with a login to the local MLS will often be able to provide a more complete picture.
The appreciation history - Is the neighborhood considered desirable because of its location or affordability? Have property prices increased or decreased over the past 5-10 years?
The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a nice blend of business in an area, or does it rely on just one industry? Is the blend of commercial and residential development changing?
Each of these pieces plays a part.