Over time, the value of a home will fluctuate up and down.
Over a long enough period of time, property values , for the most part, appreciate.
But, in real estate there are no "sure things".
When your property appreciates you have more equity to borrow against, and you make a better profit when you sell.
There are many different reasons why property values in Orlando change. So, how will you be sure what you're buying presently will appreciate over time?
Choosing an agent in Orlando who is familiar with the factors that drive local prices is the most important factor to consider.
A lot of people assume that the economy is the most critical factor affecting real estate appreciation.
interest rates, unemployment, job growth, government programs and a handful of other national determinants have a measurable impact on your house's worth.
But the most influential factors that figure your property's value are particular to the local Orlando economy and housing market.
Location in a community - Convenient access to schools, employment and amenities like shopping, restaurants and entertainment is a priority to a lot of families and will greatly influence home values.
So when it comes to retaining their value, these communities usually appreciate the best.
Recent sales - Your real estate agent should give you statistics on the recent home sales in the districts that you're interested in. You'll want to know average time on market, selling versus listing price and more.
Appreciation history - Have home prices increased or decreased over the past 5 to 10 years? Is the community believed to be desirable because of its location or affordability?
Local economy - Is there a good mixture of work in an area, or does it count on just one industry? Have companies moved into or away from an area? Are local companies hiring?
All these play a part.