Over time, the worth of a piece of real estate will fluctuate up and down.
Usually, house values appreciate in the long term.
But there is always a certain amount of risk in real estate, of course.
When your property appreciates you have a greater asset to borrow against, and you'll create a bigger profit when you sell.
Property values in Chickasha rise and fall for numerous reasons, so how will you know what you're purchasing this year won't depreciate the day after you close?
The most important aspect is that you go with a real estate agent in Chickasha who recognizes the factors that drive local prices.
Many believe that the economy is the top factor impacting real estate appreciation.
interest rates, unemployment, business growth, government programs and some other national determinants have a noticeable effect on your home's worth.
However, your home's value and the elements that play the biggest role in its appreciation are particular to the local Chickasha economy and housing market.
Access to services - Being close to schools, employment and amenities like shopping, restaurants and entertainment is a priority to many families and will greatly influence home values.
So those regions typically appreciate, or carry their value, best.
Recent sales - Your real estate agent should provide you with reports on the recent real estate sales in the districts that you're asking about. You'll want to know average time on market, selling versus listing price and more.
History of appreciation - In the last 5 to 10 years, have house prices risen or declined? Does location or affordability affect how desirable the neighborhood is considered?
The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a good mixture of jobs in an area, or does it rely on just one industry? Is the mix of commercial and residential development changing?
Each of these pieces plays a role.