Over time, the worth of a home will fluctuate up and down.
Property values appreciate in the long term typically.
But, of course, there is always a certain amount of risk in real estate.
When your home appreciates you have more equity to borrow against, and you'll generate a higher profit when you sell.
Property values in Naples move up and down for various reasons, so how do you know what you're investing in right now won't depreciate the day after you close?
It's critical that you choose an agent in Naples who can identify the factors that influence local prices.
The economy is believed to be the top factor affecting real estate appreciation.
interest rates, unemployment, job growth, government programs and some other national factors have a noticeable impact on your property's worth.
However, your property's value and the features that play the most significant role in its appreciation depend on the local Naples economy and housing market.
Location in a community - Convenient access to schools, work and amenities like shopping, restaurants and entertainment is a big deal to a lot of us and will greatly influence home values.
So when it comes to retaining their value, these communities usually appreciate the best.
Real estate sales trends - What's the time on market? What was the final sales amount compared to the asking price? Some information can often be obtained from public records, but a good agent with access to the local MLS will usually provide a more complete picture.
History of appreciation - In the past 5-10 years, have home prices increased or decreased? Does location or affordability affect how desirable the neighborhood is thought to be?
The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a good combination of business in an area, or does it depend on just one industry? Is the blend of commercial and residential development changing?
Each of these things plays a role.