Home prices are constantly moving up and down.
Home values appreciate in the long term for the most part.
But, of course, in real estate there are no guarantees.
When your property appreciates you have more resources to borrow against, and you make a bigger profit when you sell.
There are many different reasons why property values in Naples vary. So, how do you know what you're buying now will appreciate over time?
The most important aspect to consider is that you choose a REALTOR® in Naples who can identify the factors that influence local prices.
What is the top factor impacting real estate appreciation? Many believe that it's the economy.
mortgage rates, employment, business growth, government programs and a handful of other national factors have a noticeable impact on your home's worth.
But the most significant factors that decide your home's value depend on the local Naples economy and housing market.
Location in a community - People typically want homes in the districts with the most accommodating features, such as our schools and jobs.
So these communities often appreciate, or retain their value consistently, year to year.
Recent home sales - How long do homes typically stay up for sale before closing? What was the selling price compared to the listing price? Some information can be obtained from public records, but a good agent with a login to the local MLS will usually provide a more complete picture.
History of appreciation - In the past 5-10 years, have house prices gone up or down? Does location or affordability affect how desirable the neighborhood is considered?
Economic factors - Have businesses moved into or away from an area? Are local companies hiring? Is there a good mix of work in an area, or does it rely on just one industry?
Each of these factors plays a part.