Real estate values are constantly moving up and down.
Property values appreciate in the long term generally.
But there are no guarantees in real estate, of course.
When your property appreciates you have a more valuable asset to borrow against, and you'll create a better profit when you sell.
There are many different reasons why property values in Charlotte move up and down. So, how will you know what you're purchasing now will appreciate over time?
Choosing an agent in Charlotte who understands the factors that affect local prices is the most important part.
The economy is believed to be the major factor impacting real estate appreciation.
there are a lot of factors on a national level that change your house's value: unemployment, interest rates, the stock market, and more.
However, your house's value and the aspects that play the most significant role in its appreciation depend on the local Charlotte economy and housing market.
Location in a community - Proximity to jobs and schools also have a significant impact on most home buyers' decisions.
So those communities usually appreciate, or retain their value, best.
Real estate sales trends - How long do homes typically stay up for sale before closing? Are sellers having to discount much or offer concessions A lot of data can often be obtained from public records, but a good agent with access to the local MLS will often provide a more complete picture.
Appreciation history - Have home prices gone up or down over the past 5 to 10 years? Is the community thought of as desirable because of its location or affordability?
The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a good blend of work in an area, or does it rely on just one industry? Is the blend of commercial and residential zoning changing?
These items play a role.