Understanding Brunswick property appreciation
Home values are continually changing.
Over a long enough period of time, property values , by and large, go up.
But, in real estate there is always a certain amount of risk.
When your home appreciates you have a bigger asset to borrow against, and you'll generate a higher profit when you sell.
But how can you be sure what you're investing in this year will appreciate over time? Property values in Brunswick shift for various reasons.
The most important thing to consider is that you go with an agent in Brunswick who is familiar with the factors that drive local prices.
What is the greatest factor impacting real estate appreciation? Many are convinced that it's the economy.
It goes without saying that
mortgage rates, unemployment, business growth, government programs and many other national determinants have a definite effect on your home's worth.
But the most significant factors that determine your property's value are particular to the local Brunswick economy and residential market.
Access to services - Most people want homes in the regions with the most useful features, such as our jobs and schools.
So these communities usually appreciate, or carry their value consistently, year to year.
Recent home sales - What's the time on market? What was the final sales amount compared to the asking price? Some information can be retrieved from public records, but a good agent with access to the local MLS will usually provide a more complete picture.
History of appreciation - In the last 5-10 years, have home prices increased or decreased? Does location or affordability affect how desirable the area is thought of as?
Economic factors - Have businesses moved into or away from an area? Are local companies hiring? Is there a good blend of business in an area, or does it rely upon just one industry?
These items play a role.
Learning the factors that influence your home's worth is important.
to receive an estimation of your home's value.
And if you have any questions, call me at 207-373-1135 or e-mail me