Over time, the worth of a home will go up and down.
Normally, property values appreciate in the long term.
But, in real estate there are no "sure things".
When your property appreciates you have a bigger asset to borrow against, and you'll realize a higher profit when you sell.
Property values in Cedar Park rise and fall for various reasons, so how can you be sure what you're purchasing today won't depreciate the day after you close?
Choosing a real estate agent in Cedar Park who understands the factors that affect local prices is the most important factor.
Many believe that the economy is the biggest factor impacting real estate appreciation.
interest rates, unemployment, business growth, government programs and quite a few other national determinants have a measurable impact on your property's worth.
However, your home's value and the things that play the most significant role in its appreciation are particular to the local Cedar Park economy and housing market.
Access to services - Proximity to schools, jobs, and amenities also have a huge effect on all home buyers' choices.
So these communities generally appreciate, or retain their value, best.
Real estate sales trends - How fast are houses selling? Are sellers having to discount much? Some information can be obtained from public records, but a good agent with a login 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 to 10 years? Is the community thought of as desirable because of its location or affordability?
Economic factors - Have companies moved into or away from an area? Are local companies hiring? Is there a good combination of work in an area, or does it depend on just one industry?
Each of these pieces plays a part.