Are you thinking of buying a house in Naples, Florida? If so, you’re making a significant investment! Naples is one of the most beautiful and affluent cities in the country, and its property values will continue to increase. So, whether you’re looking for a primary residence or just an investment property, buying a house in Naples is the right move.
When it comes to real estate investing, Naples is a city that should be on your radar. The combination of its strong economy, beautiful weather, and upscale lifestyle make it an ideal place to invest in property. And, with property values on the rise, now is the perfect time to buy a house in Naples.
Key Market Statistics
If you’re thinking of buying a home in Naples, FL, now is a great time. The real estate market in Naples is predicted to be strong in 2021 and 2022, with prices continuing to rise.
Here are some of the latest trends and statistics:
- The median home value in Naples is $439,000, an increase of 8.9% over the past year.
- The median price per square foot is $334, an increase of 6.3% over the past year.
- There are currently 2,113 properties on the market in Naples, a decrease of 15.5% from last year.
- The average days on the market (DOM) for homes in Naples is 92 days, a decrease of 20.2% from last year.
The Naples real estate market is predicted to be strong in the coming years, with prices continuing to rise. If you’re thinking of buying a home in Naples, now is a great time.
Factors to Consider
If you’re considering purchasing a property in Naples, Florida, as an investment, you may be wondering if it’s a good idea. After all, the real estate market has been volatile in recent years, and you want to be sure you’re making an intelligent investment.
Here’s a look at some factors to consider when buying a house in Naples, Florida, is a good investment.
The location is critical.
When it comes to real estate investing, location is critical. You want to choose a property located in an area that’s growing or has growth potential. Naples, Florida, definitely fits this criterion. The city is constantly expanding, and there’s always something new being built. This means that your investment property will likely go up in value over time.
The rental market is booming.
Another essential factor to consider when determining if an investment property is a good idea is the strength of the rental market. You want to be sure that you’ll be able to find tenants for your property relatively easily. Fortunately, the rental market in Naples, Florida, is quite strong. There’s always demand for rental properties, so you shouldn’t have any trouble finding tenants. So if you’re looking to generate income from your investment, buying a house in Naples and renting it out is a great option.
The cost of living is high.
One downside of investing in Naples, Florida, is the cost of living. It’s no secret that the cost of living in this city is relatively high. This means that you’ll need to charge higher rent prices to profit. However, if you can find tenants willing to pay these prices, investing in Naples, Florida, can be a great idea.
There’s always something to do
If you’re looking for an investment property in a city with a lot to offer, Naples, Florida, is worth considering. The city is home to numerous beaches, golf courses, restaurants, and shops. This means that your tenants will always have something to do. And, they’ll likely be happy to stay in your rental property long-term.
It’s a great place to live.
In addition to being a great place to invest, Naples, Florida, is also a great place to live. If you’re thinking of purchasing a property here, you may want to consider living in it yourself. This way, you can enjoy all that the city offers while also making a profit from your investment.
The lifestyle is unbeatable.
Naples is an extraordinary place to live. The weather is fantastic, the beaches are beautiful, and the quality of life is high. Naples is an excellent option if you’re looking for a place to call home.
The Future of the Naples Real Estate Market
One of the most significant factors impacting the future of the Naples real estate market is demographics. The city’s population is aging, and as baby boomers retire, they are increasingly choosing to downsize and move to warmer climates. At the same time, millennials are just starting to enter the housing market, and many of them are looking for affordable starter homes.
Another essential factor to consider is the economy. Naples is a very wealthy city, and its economy is heavily reliant on tourism and retirees. If the economy weakens, it could have a negative impact on the real estate market. However, Naples has been relatively insulated from economic downturns in the past, so it may weather any future storms better than other markets.
Finally, another wild card to consider is Hurricane Irma. The 2017 hurricane was one of the most powerful storms ever to hit Florida, and it caused significant damage in Naples. While the city has recovered quickly, there is always the possibility of future hurricanes affecting the real estate market.
Is Buying a House in Naples a Good Investment?
As you can see, there are plenty of reasons why investing in Naples, Florida, is a good idea. Naples, Florida, is worth considering if you’re looking for an investment property in a desirable location with strong rental demand and a high potential for appreciation.
Schedule a consultation now and see how your investment can be put to work for you by our well-versed real estate agents.
He brings his extensive knowledge of the real estate market, excellent communication skills, experience, and passion to Southwest Florida with the aim of helping sellers, buyers, and investors in achieving their dreams and goals. By incorporating modern digital marketing strategies used by fortune 500 companies, his fresh and innovative approach to real estate, coupled with his natural ability to connect with people, has allowed him to achieve success even in the most complex and competitive situations.