Over time, the value of a piece of real estate will fluctuate up and down.
Over a long enough period of time, property values almost always go up.
But, in real estate there is always a certain amount of risk.
When your property appreciates you have a more valuable asset to borrow against, and you'll generate a greater profit when you sell.
There are many different reasons why property values in Dublin waver. So, how can you be sure what you're buying presently will appreciate over time?
Choosing an agent in Dublin who understands the factors that affect local prices is the most important factor to consider.
A lot of people think that the economy is the most influential factor affecting real estate appreciation.
mortgage rates, employment, business growth, government programs and a lot of other national determinants have a measurable influence on your property's worth.
However, your house's value and the elements that play the most significant role in its appreciation depend on the local Dublin economy and housing market.
Location in a community - Many consumers wish to live in areas with the most convenient features for households to thrive, like a close proximity to jobs and schools.
So those communities typically appreciate, or carry their value, best.
Recent sales - Your real estate agent should provide you with data on the recent real estate 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 last 5 to 10 years, have property prices gone up or down? Does location or affordability affect how desirable the area is considered?
Local economy - Is there a fair combination of job types in an area, or does it depend on just one industry? Have businesses moved into or away from an area? Are local companies hiring?
These items play a part.