Over time, the worth of a house will go up and down.
Home values appreciate in the long term typically.
But, of course, there is always a certain amount of risk in real estate.
When your home appreciates you have a greater asset to borrow against, and you'll produce a bigger profit when you sell.
Property values in Fort Myers go up and down for various reasons, so how can you be sure what you're investing in today won't depreciate the day after you close?
The most important part is that you choose a real estate agent in Fort Myers who can identify the factors that affect local prices.
Many are convinced that the economy is the greatest factor affecting real estate appreciation.
mortgage rates, employment, job growth, government programs and quite a few other national determinants have a definite influence on your house's value.
However, your house's value and the components that play the most significant role in its appreciation depend on the local Fort Myers economy and housing market.
Location in a community - Proximity to schools and work also have a major effect on all home buyers' choices.
So when it comes to holding their value, these communities typically appreciate better than others.
Recent home sales - You should receive statistics on the recent real estate sales in the regions that you're interested in from your agent. You'll need to learn data like how long a house stays on the market and asking price as opposed to selling price.
Appreciation history - Have house prices risen or declined over the past 5-10 years? Is the community thought to be desirable because of its location or affordability?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a fair mix of business in an area, or does it depend on just one industry?
These items play a role.
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