Over time, the value of a house will go up and down.
Home values appreciate in the long term typically.
But, of course, there is always a certain amount of risk in real estate.
When your property appreciates you have more resources to borrow against, and you'll see a larger profit when you sell.
Property values in Naples waver for various reasons, so how can you be sure what you're purchasing now won't depreciate the day after you close?
The most important thing to consider is that you choose a REALTOR® in Naples who understands the factors that drive local prices.
What is the most critical factor affecting real estate appreciation? Many are convinced that it's the economy.
Clearly,
there are numerous issues on a national level that change your home's value: unemployment, interest rates, inflation, and more.
However, your home's value and the elements that play the biggest role in its appreciation are specific to the local Naples economy and housing market.
Access to services - Most people want homes in the areas with the easiest access to amenities, such as our schools and work.
So when it comes to holding their value, these communities generally appreciate better than others.
Recent sales - Your REALTOR® should give you stats on the recent home sales in the districts that you're asking about. You'll want to know average time on market, selling versus listing price and more.
History of appreciation - In the last 5-10 years, have property prices increased or decreased? Does location or affordability affect how desirable the neighborhood is thought to be?
The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a nice mix of job types in an area, or does it rely upon just one industry? Is the mix of commercial and residential zoning changing?
All these play a part.