What drives property values in North Kingstown to move up and down?

Over time, the worth of a home will go up and down. Almost always, property values appreciate in the long term. But, of course, there are no guarantees in real estate.

When your property appreciates you have a greater asset to borrow against, and you make a greater profit when you sell. Property values in North Kingstown waver for different reasons, so how will you be sure what you're investing in today won't depreciate the day after you close? Choosing an agent in North Kingstown who recognizes the factors that affect local prices is the most important element to consider.

What is the most important factor impacting real estate appreciation? Many guess that it's the economy. After all, mortgage rates, unemployment, business growth, government programs and several other national determinants have a noticeable impact on your house's worth. But the most important factors that decide your property's value depend on the local North Kingstown economy and housing market.

Let Greater R.I. Properties, LLC help you with your first home purchase in North Kingstown Location in a community - Proximity to schools and work also have a major impact on most home buyers' choices. So when it comes to holding their value, these communities often appreciate much more reliably than areas lacking key features.

The latest home sales - You should receive data on the recent real estate sales in the areas that you'd like to live in from your REALTOR®. You'll want to know figures like time on market and asking price versus selling price.

The appreciation history - Is the area thought to be desirable because of its location or affordability? Have home prices risen or declined over the past 5 to 10 years?

Economic factors - Have companies moved into or away from an area? Are local companies hiring? Is there a fair mix of jobs in an area, or does it count on just one industry? All these play a role.

Learning the factors that impact your house's market price is important. Click here to get an assessment of your house's value. Call me at 401-932-9005 or e-mail me if you have any questions at all. I'd love to hear from you.