Property values are constantly moving up and down.
Over a long enough period of time, home values generally appreciate.
But there is always a certain amount of risk in real estate, of course.
When your home appreciates you have a greater asset to borrow against, and you'll make a higher profit when you sell.
But how do you know what you're investing in this year will appreciate over time? Property values in Dublin change for numerous reasons.
It's critical that you select a REALTOR® in Dublin who understands the factors that affect local prices.
A lot of people believe that the economy is the most important factor affecting real estate appreciation.
Obviously,
there are numerous issues on a national level that affect your property's value: unemployment, mortgage rates, business growth, and more.
However, your home's value and the aspects that play the most significant role in its appreciation are specific to the local Dublin economy and housing market.
Location in a community - Proximity to schools, jobs, and amenities also have a huge impact on all home buyers' choices.
So when it comes to keeping their value, these areas usually appreciate much more reliably than areas lacking key features.
Recent home sales - Are homes on the market 30, 60, or 90 days or even longer? Are sellers having to discount much or offer concessions A lot of data can often be retrieved from public records, but a good agent with access to the local MLS will often be able to provide a more complete picture.
History of appreciation - In the past 5-10 years, have property prices gone up or down? Does location or affordability affect how desirable the neighborhood is considered?
The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a nice combination of work in an area, or does it rely on just one industry? Is the blend of commercial and residential zoning changing?
These items play a part.