Over time, the value of a house will fluctuate up and down.
Over a long enough period of time, house values generally appreciate.
But, in real estate there are no "sure things".
When your home appreciates you have a bigger asset to borrow against, and you'll see a larger profit when you sell.
Property values in Mineral Wells fluctuate for different reasons, so how will you know what you're investing in today won't depreciate the day after you close?
The most important factor to consider is that you pick an agent in Mineral Wells who is familiar with the factors that influence local prices.
A lot of people guess that the economy is the greatest factor impacting real estate appreciation.
mortgage rates, unemployment, job growth, government programs and many other national determinants have a measurable effect on your home's value.
However, your home's value and the elements that play the most significant role in its appreciation are specific to the local Mineral Wells economy and housing market.
Access to services - Convenient access to schools, jobs and amenities like shopping, restaurants and entertainment is a big deal to a lot of us and will greatly influence home values.
So these areas consistently appreciate, or hold their value, best.
Prior home sales - Are homes on the market 30, 60, or 90 days or even longer? Are sellers needing to discount much or offer concessions Some information can be obtained from public records, but a good agent with access to the local MLS will often provide a more complete picture.
History of appreciation - In the past 5-10 years, have home prices increased or decreased? Does location or affordability affect how desirable the community is considered?
Local economy - Is there a nice combination of jobs in an area, or does it rely upon just one industry? Have companies moved into or away from an area? Are local businesses hiring?
All these play a part.