4 ms·
Certainly those increases in price are because the person put significant time and money into improving the property. It's not any more of a "reward" than your
by rco8786 9y ago
Certainly those increases in price are because the person put significant time and money into improving the property. It's not any more of a "reward" than your salary is "reward".
- geofft 9y agoNot certainly - it's very common for a neighborhood to shoot up in value (because of something that individual homeowners don't do, like a major employer moving in or getting successful, or a train station being built, or a nearby neighborhood getting full), and so the market value of the same home at the same condition can increase dramatically just because the neighborhood has more demand.
- rco8786 9y ago40% in 2-3 years is pretty unlikely, even in the hottest markets. But even still, does that mean you discontinue shopping in the neighborhood altogether? Because all the surrounding homes would have seen the same increase?
- Retric 9y ago40% in 2-3 years is unlikely, but still happens. Small town + business taking off can quickly dry up all available housing. I suspect if you look around say the Tesla Gigafactory, local housing prices had a massive spike at some point.