Over time, the worth of a piece of real estate will fluctuate up and down.
Home values appreciate in the long term for the most part.
But, of course, there is always a certain amount of risk in real estate.
When your house appreciates you have a bigger asset to borrow against, and you make a bigger profit when you sell.
Property values in Clearwater go up and down for various reasons, so how will you be sure what you're investing in today won't depreciate the day after you close?
The most important aspect to consider is that you select a real estate agent in Clearwater who knows the factors that drive local prices.
What is the most critical factor affecting real estate appreciation? Many believe that it's the economy.
It goes without saying that
there are some factors on a national level that alter your property's value: unemployment, mortgage rates, consumer confidence, and more.
However, your home's value and the elements that play the most significant role in its appreciation are particular to the local Clearwater economy and housing market.
Access to services - Being close to schools, jobs and amenities like shopping, restaurants and entertainment is important to a lot of buyers and will greatly influence home values.
So when it comes to holding their value, these communities usually appreciate better than others.
Recent home sales - You should receive facts and figures on the recent real estate sales in the regions that you'd like to live in from your real estate agent. You'll want to know figures like how long a house stays on the market and listing price as opposed to selling price.
Appreciation history - Have property prices increased or decreased over the past 5 to 10 years? Is the community believed to be desirable because of its location or affordability?
Local economy - Is there a fair combination of jobs in an area, or does it count on just one industry? Have businesses moved into or away from an area? Are local businesses hiring?
These items play a part.