Hi, we are planning to buy a house in Hilltop estates, West Warwick, RI for $ 160 per square feet, do you

Asked by Sri, Cranston, RI Sat Apr 18, 2009

think its the best price and will there be any appreciation in that area if we want to sell the house after 5 years, the property was built in 1996 and is 3 bedroom & 2 1/2 bath single family home.

Thank you
sri

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Christopher…, Agent, Providence, RI
Sat Apr 18, 2009
Hi Sri,

Like Sandra said. There are many, many factors that can effect the price of a house. Location, upgrades and overall condition being the biggest factors. In my opinion price per sq foot can be one of the misleading statistics in the residential real estate market.

As for expecting appreciation....If anyone can give you an answer on that, you probably should ask them for the winning numbers in tonight's Powerball drawing. What I can tell you without a shred of doubt is that historically real estate has been one of the best long term investments. Where else can you earn the full appreciation for an item that you are putting only 3 1/2 % down.

Happy Hunting,
Chris
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Sandra Brown, Agent, Cranston, RI
Sat Apr 18, 2009
That's a tough question to answer. If you go by the statistics (houses that have recently sold) that area is between $93-$120 per square feet, Many, many, factors can change that price including the size of the lot, the upgrades in the house, and foreclosures in the area. Your best bet is to work with a buyers agent who can do the research (CMA) for you. They can let you know whether your getting a great deal, or if the property is over priced for this current market. If I can help, just let me know.
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