Home prices are constantly moving up and down.
House values appreciate in the long term for the most part.
But, in real estate there is always a certain amount of risk.
When your home appreciates you have more equity to borrow against, and you'll see a greater profit when you sell.
There are many different reasons why property values in Dublin change. So, how will you know what you're purchasing this year will appreciate over time?
The most important thing is that you select an agent in Dublin who is familiar with the factors that drive local prices.
Many believe that the economy is the most critical factor impacting real estate appreciation.
After all,
mortgage rates, employment, business growth, government programs and a lot of other national factors have a noticeable effect on your home's value.
However, your property's value and the aspects that play the biggest role in its appreciation depend on the local Dublin economy and housing market.
Location in a community - Convenient access to schools, employment and amenities like shopping, restaurants and entertainment is a priority to a lot of us and will greatly influence home values.
So when it comes to holding their value, these regions consistently appreciate the best.
Recent sales - Your agent 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 past 5-10 years, have home prices gone up or down? Does location or affordability affect how desirable the area is believed to be?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a good mix of jobs in an area, or does it rely upon just one industry?
These items play a role.