Over time, the worth of a home will go up and down.
Over a long enough period of time, home values almost always appreciate.
But there are no "sure things" in real estate.
When your home appreciates you have more resources to borrow against, and you'll produce a larger profit when you sell.
But how will you be sure what you're buying now will appreciate over time? Property values in Raleigh shift for numerous reasons.
It's important that you go with a real estate agent in Raleigh who can identify the factors that affect local prices.
A lot of people believe that the economy is the top factor affecting real estate appreciation.
mortgage rates, employment, job growth, government programs and quite a few other national determinants have a measurable influence on your house's worth.
However, your home's value and the factors that play the most significant role in its appreciation depend on the local Raleigh economy and housing market.
Access to services - Most people want homes in the regions with the most accommodating places we go often or everyday, such as our schools and jobs.
So when it comes to retaining their value, these communities usually appreciate better than others.
Recent sales - Your agent should give you stats on the recent home sales in the areas that you're asking about. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the community considered desirable because of its location or affordability? Have home 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 good mix of jobs in an area, or does it count on just one industry? Is the blend of commercial and residential development changing?
All these play a part.