Home values are forever in flux.
Property values appreciate in the long term normally.
But, of course, in real estate there is always a certain amount of risk.
When your house appreciates you have more resources to borrow against, and you'll realize a larger profit when you sell.
But how can you be sure what you're investing in presently will appreciate over time? Property values in Medway vary for different reasons.
Choosing a real estate agent in Medway who knows the factors that drive local prices is the most important thing to consider.
A lot of people are convinced that the economy is the top factor affecting real estate appreciation.
there are many issues on a national level that adjust your property's value: unemployment, interest rates, the stock market, and more.
However, your house's value and the elements that play the most significant role in its appreciation are particular to the local Medway economy and housing market.
Location in a community - Proximity to schools and jobs also have a great impact on almost all home buyers' choices.
So those areas usually appreciate, or hold their value consistently, year to year.
The latest home sales - What's the time on market? Are sellers having to discount much? Some information can be obtained from public records, but a good agent with a login to the local MLS will usually provide a more complete picture.
History of appreciation - In the past 5-10 years, have house prices increased or decreased? Does location or affordability affect how desirable the community is considered?
The local economy - Are local businesses hiring? Have businesses moved into or away from an area? Is there a good blend of jobs in an area, or does it rely on just one industry? Is the mix of commercial and residential zoning changing?
Each of these things plays a role.