Real estate prices are continually changing.
In most cases, home values appreciate in the long term.
But there are no guarantees in real estate.
When your home appreciates you have more resources to borrow against, and you'll generate a greater profit when you sell.
There are many different reasons why property values in Naples shift. So, how will you be sure what you're buying this year will appreciate over time?
The most important part is that you go with a REALTOR® in Naples who understands the factors that affect local prices.
A lot of people are convinced that the economy is the most influential factor impacting real estate appreciation.
Naturally,
there are quite a few issues on a national level that impact your house's value: unemployment, mortgage rates, inflation, and more.
But the most important issues that figure your home's value are specific to the local Naples economy and residential market.
Location in a community - Many home buyers want to live in regions with the best and most convenient traits for homes to develop, like a close proximity to jobs and schools.
So those communities consistently appreciate, or hold their value, best.
Prior home sales - What's the time on market? Are sellers needing to discount much? A lot of data can be obtained from public records, but a good agent with a login to the local MLS will usually provide a more complete picture.
Appreciation history - Have house prices increased or decreased over the last 5-10 years? Is the area thought to be desirable because of its location or affordability?
Local economy - Is there a nice mixture of work in an area, or does it rely upon just one industry? Have businesses moved into or away from an area? Are local businesses hiring?
These items play a role.