Generally speaking, bonds will continue to increase in value as they get closer to maturity. This is because the final face value payment, which is almost always the largest portion of the bond, will come sooner, rather than later. From an investor’s perspective, when all else is equal, you’ll want to get your money back as soon as possible. This is due to a concept known as the time value of money (TVM). However, there are a few situations where bonds could decrease in value over time. If the bond has an unusual coupon structure, with high-priced coupons being paid out early, investing in the bond early on might be more beneficial. In addition, interest rates impact bond prices, so when interest rates increase, bond prices typically decrease.