Real estate prices are constantly moving up and down.
House values appreciate in the long term generally.
But, of course, in real estate there is always a certain amount of risk.
When your home appreciates you have more resources to borrow against, and you'll see a better profit when you sell.
But how will you know what you're buying right now will appreciate over time? Property values in Burlington rise and fall for a variety of reasons.
The most important aspect is that you pick a real estate agent in Burlington who is familiar with the factors that affect local prices.
What is the top factor affecting real estate appreciation? Many are convinced that it's the economy.
Obviously,
there are quite a few issues on a national level that affect your property's value: unemployment, interest rates, consumer confidence, and more.
However, your property's value and the elements that play the biggest role in its appreciation depend on the local Burlington economy and housing market.
Access to services - Convenient access to schools, employment and amenities like shopping, restaurants and entertainment is important to many us and will greatly influence home values.
So when it comes to retaining their value, these regions typically appreciate much more reliably than areas lacking key features.
Recent sales - Your real estate agent should give you facts and figures on the recent real estate sales in the neighborhoods that you're interested in. 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 house prices gone up or down? Does location or affordability affect how desirable the community is thought of as?
Local economy - Is there a fair mix of work in an area, or does it rely on just one industry? Have businesses moved into or away from an area? Are local businesses hiring?
All these play a part.