Over time, the value of a home will fluctuate up and down.
House values appreciate in the long term usually.
But, in real estate there are no guarantees.
When your house appreciates you have a bigger asset to borrow against, and you'll see a greater profit when you sell.
There are different reasons why property values in Dublin go up and down. So, how do you know what you're investing in right now will appreciate over time?
The most important part is that you choose a real estate agent in Dublin who is familiar with the factors that influence local prices.
Many guess that the economy is the biggest factor affecting real estate appreciation.
Naturally,
there are many issues on a national level that affect your home's value: unemployment, mortgage rates, quarterly earnings reports, and more.
However, your home's value and the factors that play the biggest role in its appreciation are specific to the local Dublin economy and housing market.
Location in a community - Being close to schools, employment and amenities like shopping, restaurants and entertainment is a big deal to a lot of us and will greatly influence home values.
So when it comes to keeping their value, these regions typically appreciate the best.
Recent home sales - How fast are houses selling? Are sellers having to discount much or offer concessions A lot of data can be retrieved from public records, but a good agent with access to the local MLS will usually be able to provide a more complete picture.
Appreciation history - Have property prices increased or decreased over the past 5 to 10 years? Is the neighborhood thought of as desirable because of its location or affordability?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a good combination of business in an area, or does it count on just one industry?
Each of these factors plays a role.