Every buyer wants VALUE when they make their purchase but, what makes a property in Naples, Florida have more value than another? Hint: It’s not just the house itself. In our market area, there are many other factors that contribute to value and to future appreciation. A home is most often the biggest investment that you will make. You want it to be a sound investment, represent value and appreciate during the course of your ownership.
What determines value? From the numbers viewpoint of an appraiser, value of a property will certainly depend on recent comparable closed sales. For the homeowner who is actually going to live in, love and enjoy a home, there is a lot more to it than the numbers. Here are some factors from the viewpoint of real customers who have made purchases and consideration of the local knowledge from full time, professional Realtors who are looking out for your best interests as a buyer:
- Location in the Naples area is Number One. It’s important anywhere you go but, we have unique features which make location hyper sensitive to value. The Gulf of Mexico is the driver here – proximity to the water, access to the water and beaches are key. The north / south arteries of Tamiami Trail (Route 41) and I-75 determine different market areas and value. Location is key to living the Florida lifestyle that is right for you.
- Unique features of a community or a home. Perhaps the best example of this is Pelican Bay being the only community with private beach and beachfront facilities that include full restaurant and bar service. Pelican Bay residents are very loyal and will move within the community but, they will never leave. Another example of a unique community feature is Pine Ridge. Pine Ridge Estates is the one and only neighborhood that offers large lot sizes with a location close in to everything. Properties with this acreage simply do not exist anywhere else in Naples with such a great location. How about a wood fired pizza oven? That’s a very special feature of a home that you might love to have and we just happened to know of a beautiful home with one in the backyard. In our area, a covered boathouse is a rare and coveted feature. One of our property listings is a canal home in Conners that has a grandfathered boathouse with a huge upper sun deck – something for which you would never get a permit to build nowadays. These unique attributes of a community or a home could have a lot of value for you.
- Renovations, upgrades and trends. The details of any home and the value associated with those details goes way beyond the scope of how an appraiser looks at value. An appraiser is calculating square footage. You need to know the value associated with certain elements of design and styles. Take flooring as an example – there is a big difference in overall value between 12″ tile installed on the square versus 20″ tile laid on the diagonal. Narrow dark hardwood floors versus the wide plank coastal look? Big difference in 2018 and going forward.
- Amenities. The amenities and facilities that a community offers is going to have a different value to different buyers. However, those amenities need to reflect value for you and your family and need to be in line with the fees that go along with those amenities.
- History. There are communities in Naples that are strong year in and year out through the ups and downs of real estate cycles over time. Good reasons always back up the consistency. Rock solid communities would include Pelican Bay, Pelican Marsh, Conners of Vanderbilt Beach and Pine Ridge Estates. Working our way south the neighborhoods of Park Shore, Moorings and Coquina Sands have stood the test of time. Monterey has a loyal following as a family friendly community. Marbella Lakes is a “go to” community for 4 and 5 bedroom homes at value prices. Newer communities that represent value now and will do well in the future are Camden Lakes, Marbella Isles and Riverstone.
- What is important to you? This is when a house becomes a home. The value to you might be in the water view, it could be the community golf course and clubhouse, maybe it’s the other neighboring families with kids, perhaps it’s the landscaped yard or the contemporary style and flow of indoor / outdoor spaces. A pet friendly property might be essential for you.
Click on the links below to check out properties that represent VALUE in Naples. Call us for more information and let us share our local knowledge with you.
As full time real estate professionals, we represent both buyers and sellers in the Naples. If you are a seller, we market your home to local, national and international buyers for the best results. If you are a buyer, we listen well and will find your own “Piece of Paradise” at thebest negotiated price and terms.
Tim Cranch at 239-272-4848 or Ellie Penaranda at 239-776-4848