Over time, the worth of a home will go up and down.
Over a long enough period of time, house values almost always appreciate.
But, of course, there is always a certain amount of risk in real estate.
When your property appreciates you have more equity to borrow against, and you get a larger profit when you sell.
There is a variety of reasons why property values in Venice vary. So, how can you be sure what you're buying today will appreciate over time?
Choosing a REALTOR® in Venice who can identify the factors that drive local prices is the most important aspect.
The economy is thought to be the most important factor affecting real estate appreciation.
It goes without saying that
interest rates, employment, job growth, government programs and some other national determinants have a noticeable effect on your house's worth.
But the most important factors that determine your house's value are specific to the local Venice economy and residential market.
Access to services - Proximity to schools and jobs also have a huge effect on almost all home buyers' decisions.
So those regions typically appreciate, or keep their value consistently, year to year.
The latest home sales - How long do homes typically stay on the market? Are sellers having to discount much or offer concessions Some information can be retrieved from public records, but a good agent with access to the local MLS will often be able to provide a more complete picture.
Appreciation history - Have house prices gone up or down over the past 5-10 years? Is the area thought of as desirable because of its location or affordability?
Local economy - Is there a good mix of jobs in an area, or does it count on just one industry? Have businesses moved into or away from an area? Are local businesses hiring?
Each of these elements plays a role.
Are you looking to sell your house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.