Home values are continually changing.
House values appreciate in the long term almost always.
But, of course, there are no "sure things" in real estate.
When your home appreciates you have a more valuable asset to borrow against, and you'll make a higher profit when you sell.
Property values in Hendersonville go up and down for many different reasons, so how will you know what you're buying today won't depreciate the day after you close?
The most important factor is that you select an agent in Hendersonville who knows the factors that affect local prices.
Many are convinced that the economy is the top factor affecting real estate appreciation.
It goes without saying that
there are a lot of issues on a national level that affect your property's value: unemployment, interest rates, quarterly earnings reports, and more.
However, your home's value and the aspects that play the biggest role in its appreciation are particular to the local Hendersonville economy and housing market.
Location in a community - People typically want homes in the regions with the easiest access to amenities, such as our schools and work.
So those communities typically appreciate, or carry their value consistently, year to year.
Recent sales - Your real estate agent should give you statistics on the recent home sales in the areas that you'd like to live in. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the neighborhood considered desirable because of its location or affordability? Have house prices gone up or down over the past 5-10 years?
The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a fair blend of jobs in an area, or does it rely on just one industry? Is the mix of commercial and residential zoning changing?
Each of these things plays a role.