Property prices are continually changing. Over a long enough period of time, property values , in most cases, go up. 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 higher profit when you sell. But how will you be sure what you're purchasing right now will appreciate over time? Property values in the Upstate rise and fall for different reasons. It's important that you go with an agent in the area who recognizes the factors that influence local prices.
The economy is assumed to be the most important factor impacting real estate appreciation. After all, there are numerous factors on a national level that impact your home's value: unemployment, mortgage rates, business growth, and more. However, your property's value and the elements that play the most significant role in its appreciation are particular to the local Anderson and Greenville area economy and housing market.
Location in a community - Being close to schools, employment and amenities like shopping, restaurants, and entertainment is important to a lot of families and will greatly influence home values. So these communities usually appreciate, or retain their value consistently, year to year.
The latest home sales - You should receive stats on the recent real estate sales in the districts that you're asking about from your agent. You'll need to learn data like time on market and asking price versus selling price.
Appreciation history - Have house prices risen or declined over the last 5 to 10 years? Is the community believed to be desirable because of its location or affordability?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a fair blend of business in an area, or does it count on just one industry? All these play a part.