Over time, the worth of a house will fluctuate up and down.
Over a long enough period of time, house values normally appreciate.
But, of course, in real estate there are no "sure things".
When your house appreciates you have a more valuable asset to borrow against, and you'll see a greater profit when you sell.
But how do you know what you're investing in presently will appreciate over time? Property values in Naples fluctuate for numerous reasons.
Choosing a REALTOR® in Naples who knows the factors that affect local prices is the most important factor to consider.
Many guess that the economy is the most influential factor affecting real estate appreciation.
mortgage rates, employment, business growth, government programs and a lot of other national factors have a definite impact on your home's value.
But the most significant factors that figure your house's value are specific to the local Naples economy and housing market.
Access to services - Convenient access to schools, jobs and amenities like shopping, restaurants and entertainment is important to a lot of us and will greatly influence home values.
So when it comes to holding their value, these areas consistently appreciate better than others.
Recent home sales - You should receive statistics on the recent real estate sales in the neighborhoods that you're asking about from your REALTOR®. You'll need to analyze data like how long a house stays on the market and seller discounts.
The appreciation history - Is the neighborhood thought of as desirable because of its location or affordability? Have house prices increased or decreased over the last 5 to 10 years?
Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a good combination of business in an area, or does it count on just one industry?
Each of these elements plays a part.