Home values are constantly moving up and down.
Property values appreciate in the long term in most cases.
But, of course, in real estate there are no "sure things".
When your home appreciates you have more resources to borrow against, and you make 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 North Kingstown move up and down for numerous reasons.
The most important factor to consider is that you choose an agent in North Kingstown who is familiar with the factors that drive local prices.
What is the most influential factor impacting real estate appreciation? Many think that it's the economy.
interest rates, employment, job growth, government programs and many other national factors have a measurable effect on your property's value.
But the most significant issues that figure your house's value are specific to the local North Kingstown economy and residential market.
Location in a community - Proximity to jobs and schools also have a great influence on all home buyers' choices.
So these areas typically appreciate, or carry their value consistently, year to year.
Recent home sales - How long are homes on the market? What was the final sales amount versus the listing price? A lot of data can be retrieved from public records, but a good agent with a login to the local MLS will often provide a more complete picture.
The appreciation history - Is the community thought of as desirable because of its location or affordability? Have property prices risen or declined over the last 5-10 years?
The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a nice mixture of business in an area, or does it rely on just one industry? Is the mix of commercial and residential zoning changing?
Each of these elements plays a part.