Over time, the value of a home will go up and down.
For the most part, house values appreciate in the long term.
But, in real estate there is always a certain amount of risk.
When your property appreciates you have a more valuable asset to borrow against, and you'll generate a better profit when you sell.
There is a variety of reasons why property values in Naples waver. So, how can you be sure what you're buying now will appreciate over time?
It's important that you choose a REALTOR® in Naples who is familiar with the factors that influence local prices.
The economy is believed to be the biggest factor affecting real estate appreciation.
there are several factors on a national level that impact your property's value: unemployment, interest rates, the stock market, and more.
But the most important things that determine your property's value depend on the local Naples economy and residential market.
Location in a community - Convenient access to schools, employment and amenities like shopping, restaurants and entertainment is a priority to many buyers and will greatly influence home values.
So these areas typically appreciate, or carry their value consistently, year to year.
Real estate sales trends - Are homes on the market 30, 60, or 90 days or even longer? Are sellers having to discount much or offer concessions A lot of data 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.
Appreciation history - Have home prices increased or decreased over the past 5 to 10 years? Is the area considered desirable because of its location or affordability?
Local economy - Is there a good combination of jobs in an area, or does it count on just one industry? Have companies moved into or away from an area? Are local businesses hiring?
All these play a role.