Over time, the value of a house will fluctuate up and down.
Home values appreciate in the long term generally.
But there are no "sure things" in real estate, of course.
When your home appreciates you have a larger asset to borrow against, and you'll make a higher profit when you sell.
Property values in Burlington fluctuate for different reasons, so how will you be sure what you're buying now won't depreciate the day after you close?
The most important aspect is that you pick an agent in Burlington who recognizes the factors that affect local prices.
A lot of people guess that the economy is the most important factor affecting real estate appreciation.
It goes without saying that
there are numerous issues on a national level that affect your house's value: unemployment, interest rates, the stock market, and more.
However, your property's value and the factors that play the biggest role in its appreciation are particular to the local Burlington economy and housing market.
Access to services - Many of us choose to live in areas with the most accommodating features for families to succeed, such as a close proximity to schools and work.
So when it comes to retaining their value, these regions generally appreciate much more reliably than areas lacking key features.
Recent sales - Your agent should give you figures on the recent real estate sales in the neighborhoods that you're asking about. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the community considered desirable because of its location or affordability? Have home prices increased or decreased over the past 5 to 10 years?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a fair combination of work in an area, or does it rely on just one industry?
All these play a part.
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