Property prices are continually changing.
Usually, house values appreciate in the long term.
But there are no guarantees in real estate.
When your property appreciates you have a more valuable asset to borrow against, and you'll see a larger profit when you sell.
There are various reasons why property values in Naples fluctuate. So, how will you be sure what you're investing in this year will appreciate over time?
Choosing a REALTOR® in Naples who is familiar with the factors that affect local prices is the most important factor.
What is the biggest factor impacting real estate appreciation? Many think that it's the economy.
Obviously,
there are several factors on a national level that adjust your home's value: unemployment, interest rates, business growth, and more.
But the most significant factors that decide your home's value are specific to the local Naples economy and housing market.
Location in a community - Being close to schools, employment and amenities like shopping, restaurants and entertainment is important to many buyers and will greatly influence home values.
So these regions consistently appreciate, or carry their value, best.
Prior home sales - How long do homes typically stay up for sale before closing? What was the selling price versus the asking price? Some information can often be obtained from public records, but a good agent with access to the local MLS will often be able to provide a more complete picture.
The appreciation history - Is the community thought of as desirable because of its location or affordability? Have home prices gone up or down over the past 5-10 years?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a fair combination of business in an area, or does it rely upon just one industry?
Each of these pieces plays a role.