Real estate anywhere can be a good investment, and this is also true of St. Simon’s Island. Whether you’re buying a house or an apartment, you can be sure that the prices of real estate will always go up slowly. And this is true of St. Simon’s Island as well where the median home value is $416, 824. Market prices of homes went up about 1.2% last year and are expected to go up 1.7% in the next year.
Making a Profit When You Sell a Home
As you can see, the prices of St. Simons Island real estate have been mostly stable but on a slow upward trend. So if, for example, you buy a piece of St. Simon’s Island real estate today and you plan to sell it off in 10 years time, you can at least expect to have a 10-15% increase in market price by then, which means a 10-15% profit for you. Of course, it’s not a hard and fast rule that the increase will continue at the same pace as it has so far, but it’s likely.
What Are Buyers Looking for in a Home?
There are also other factors that influence the price of a home. The most important of these is the condition of the home. The fact is that people want to buy homes which look good and have been well-maintained. A person could move into a home and easily strip the floor and add a new one. But most people prefer to go with a home which already has good flooring. So these are the types of the things you need to be careful about when you live in a home and when you’re thinking about selling it.
Evaluating the Condition of Your Home
What are the floors like? What about the walls? Is there any obvious damage to the home? How about the roof? Or the bathroom fixtures? How about the kitchen cabinets and the kitchen counter? All these things should be in good condition when you sell a home, if you want it to fetch the best price. And if these things aren’t already in good condition, you can do some renovations and put the house on the market once it’s in a condition that will appeal to buyers.
Contact DeLoach Sotheby’s International Realty to learn more about the possible price of your St. Simons real estate in the future.