Over time, the value of a house will go up and down.
House values appreciate in the long term generally.
But, of course, there is always a certain amount of risk in real estate.
When your house appreciates you have a greater asset to borrow against, and you'll make a better profit when you sell.
But how will you know what you're investing in presently will appreciate over time? Property values in Berthoud rise and fall for a variety of reasons.
Choosing a REALTOR® in Berthoud who can identify the factors that drive local prices is the most important thing to consider.
The economy is believed to be the most crucial factor impacting real estate appreciation.
mortgage rates, employment, job growth, government programs and some other national factors have a noticeable impact on your home's value.
But the most significant things that decide your property's value depend on the local Berthoud economy and residential market.
Location in a community - Convenient access to schools, work and amenities like shopping, restaurants and entertainment is important to a lot of buyers and will greatly influence home values.
So when it comes to holding their value, these communities consistently appreciate better than others.
Real estate sales trends - What's the time on market? Are sellers having to discount much? Some information can be obtained from public records, but a good agent with a login to the local MLS will usually provide a more complete picture.
Appreciation history - Have property prices risen or declined over the past 5-10 years? Is the neighborhood considered desirable because of its location or affordability?
Economic factors - Have companies moved into or away from an area? Are local companies hiring? Is there a good mix of job types in an area, or does it rely upon just one industry?
All these play a part.