Over time, the worth of a property will go up and down.
Over a long enough period of time, property values generally appreciate.
But, in real estate there is always a certain amount of risk.
When your property appreciates you have more equity to borrow against, and you'll see a better profit when you sell.
Property values in Mount Holly fluctuate for a variety of reasons, so how will you know what you're buying today won't depreciate the day after you close?
The most important element to consider is that you go with an agent in Mount Holly who recognizes the factors that drive local prices.
What is the number one factor impacting real estate appreciation? Many are convinced that it's the economy.
mortgage rates, employment, business growth, government programs and a lot of other national determinants have a measurable effect on your property's value.
However, your house's value and the elements that play the biggest role in its appreciation are particular to the local Mount Holly economy and housing market.
Access to services - Proximity to schools, jobs, and amenities also have a major impact on most home buyers' decisions.
So when it comes to holding their value, these communities generally appreciate better than others.
The latest home sales - You should receive facts and figures on the recent real estate sales in the areas that you're interested in from your real estate agent. You'll need to know figures like time on market and seller discounts.
History of appreciation - In the last 5-10 years, have home prices gone up or down? Does location or affordability affect how desirable the area is thought of as?
The local economy - Are local businesses hiring? Have businesses moved into or away from an area? Is there a good combination of jobs in an area, or does it depend on just one industry? Is the mix of commercial and residential development changing?
All these play a part.