Over time, the value of a piece of real estate will go up and down.
Usually, house values appreciate in the long term.
But, of course, in real estate there are no "sure things".
When your home appreciates you have a greater asset to borrow against, and you get a better profit when you sell.
But how will you be sure what you're buying today will appreciate over time? Property values in Ocala go up and down for a variety of reasons.
Choosing a real estate agent in Ocala who understands the factors that affect local prices is the most important element.
A lot of people think that the economy is the greatest factor impacting real estate appreciation.
there are quite a few issues on a national level that impact your house's value: unemployment, interest rates, consumer confidence, and more.
However, your house's value and the elements that play the most significant role in its appreciation depend on the local Ocala economy and housing market.
Location in a community - Convenient access to schools, jobs and amenities like shopping, restaurants and entertainment is a priority to many buyers and will greatly influence home values.
So those communities often appreciate, or keep their value, best.
Recent sales - Your REALTOR® should give you statistics on the recent home sales in the regions that you're asking about. You'll want to know average time on market, selling versus listing price and more.
Appreciation history - Have house prices gone up or down over the last 5-10 years? Is the community thought of as desirable because of its location or affordability?
Local economy - Is there a good mix of job types in an area, or does it depend on just one industry? Have companies moved into or away from an area? Are local businesses hiring?
All these play a role.