Over time, the worth of a home will go up and down.
House values appreciate in the long term normally.
But, of course, there are no "sure things" in real estate.
When your house appreciates you have a bigger asset to borrow against, and you'll create a greater profit when you sell.
But how can you be sure what you're investing in this year will appreciate over time? Property values in Naples vary for different reasons.
The most important element to consider is that you go with an agent in Naples who understands the factors that influence local prices.
The economy is thought to be the major factor impacting real estate appreciation.
mortgage rates, unemployment, business growth, government programs and a handful of other national determinants have a noticeable effect on your home's value.
However, your home's value and the aspects that play the most significant role in its appreciation are particular to the local Naples economy and housing market.
Access to services - Convenient access to schools, employment and amenities like shopping, restaurants and entertainment is a big deal to many us and will greatly influence home values.
So when it comes to keeping their value, these areas generally appreciate the best.
Recent sales - Your real estate agent should give you facts and figures on the recent home sales in the regions that you'd like to live in. You'll want to know average time on market, selling versus listing price and more.
Appreciation history - Have property prices risen or declined over the last 5 to 10 years? Is the area considered desirable because of its location or affordability?
The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a fair mix of business in an area, or does it rely on just one industry? Is the mix of commercial and residential development changing?
Each of these pieces plays a role.