Home prices are continually changing.
Generally, property values appreciate in the long term.
But, in real estate there are no guarantees.
When your home appreciates you have a bigger asset to borrow against, and you'll make a greater profit when you sell.
There are different reasons why property values in Naples move up and down. So, how do you know what you're buying right now will appreciate over time?
The most important factor is that you choose a REALTOR® in Naples who can identify the factors that affect local prices.
A lot of people guess that the economy is the most crucial factor impacting real estate appreciation.
It goes without saying that
interest rates, employment, job growth, government programs and some other national factors have a measurable influence on your property's worth.
However, your home's value and the aspects that play the most significant role in its appreciation are specific to the local Naples economy and housing market.
Location in a community - Being close to schools, work and amenities like shopping, restaurants and entertainment is a priority to a lot of us and will greatly influence home values.
So these areas generally appreciate, or keep their value consistently, year to year.
Recent sales - Your real estate agent should provide you with facts and figures on the recent real estate sales in the districts that you're interested in. You'll want to know average time on market, selling versus listing price and more.
History of appreciation - In the past 5 to 10 years, have house prices risen or declined? Does location or affordability affect how desirable the neighborhood is believed to be?
Economic factors - Have companies moved into or away from an area? Are local companies hiring? Is there a fair blend of work in an area, or does it rely upon just one industry?
Each of these elements plays a role.