Over time, the value of a property will go up and down.
Over a long enough period of time, house values , in most cases, go up.
But there are no "sure things" in real estate, of course.
When your property appreciates you have a larger asset to borrow against, and you'll see a larger profit when you sell.
Property values in Chickasha move up and down for numerous reasons, so how do you know what you're investing in now won't depreciate the day after you close?
The most important thing to consider is that you choose a real estate agent in Chickasha who understands the factors that influence local prices.
A lot of people believe that the economy is the biggest factor impacting real estate appreciation.
there are some issues on a national level that adjust your house's value: unemployment, interest rates, consumer confidence, and more.
But the most important things that figure your property's value are specific to the local Chickasha economy and residential market.
Access to services - Convenient access to schools, jobs and amenities like shopping, restaurants and entertainment is a priority to a lot of us and will greatly influence home values.
So these areas often appreciate, or hold their value consistently, year to year.
Recent sales - Your agent should give you figures on the recent home sales in the neighborhoods that you're interested in. 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 property prices gone up or down? Does location or affordability affect how desirable the community is considered?
The local economy - Are local businesses hiring? Have businesses moved into or away from an area? Is there a good combination of jobs in an area, or does it rely upon just one industry? Is the mix of commercial and residential development changing?
Each of these factors plays a role.