Real estate values are continually changing.
Over a long enough period of time, property values , for the most part, go up.
But, in real estate there is always a certain amount of risk.
When your house appreciates you have more equity to borrow against, and you'll make a higher profit when you sell.
Property values in Burlington waver for different reasons, so how will you know what you're purchasing right now won't depreciate the day after you close?
The most important element is that you select a real estate agent in Burlington who is familiar with the factors that drive local prices.
Many guess that the economy is the biggest factor impacting real estate appreciation.
interest rates, unemployment, business growth, government programs and several other national factors have a definite impact on your property's value.
But the most significant things that figure your home's value are specific to the local Burlington economy and housing market.
Access to services - Convenient access to schools, jobs and amenities like shopping, restaurants and entertainment is a big deal to many families and will greatly influence home values.
So those areas typically appreciate, or carry their value, best.
Recent sales - Your agent should give you figures on the recent home sales in the regions that you're interested in. You'll want to know average time on market, selling versus listing price and more.
Appreciation history - Have house prices increased or decreased over the last 5 to 10 years? Is the neighborhood thought to be desirable because of its location or affordability?
Local economy - Is there a fair mix of work in an area, or does it depend on just one industry? Have businesses moved into or away from an area? Are local companies hiring?
Each of these factors plays a role.