Is my neighborhood gentrifying and should I sell now or wait?
I bought my apartment about five years ago in what was considered an "up-and-coming" neighborhood. At the time it was rough but affordable. Now there's new development happening new bars, restaurants, young professionals moving in, and prices are going up. My place has probably appreciated 20-30%.
The question is whether to sell now while things are heating up, or wait longer if the neighborhood continues improving. If I sell now I make a solid gain, but if this area becomes really desirable in the next five years I could make way more.
On the other hand, the neighborhood could plateau or change in ways I don't like. I could also just live here and enjoy the improvements instead of chasing profit.
For people who've lived through neighborhood changes, did you sell at the beginning of the boom or hold out, and do you regret it?