Property values in and around Naples seems to be a mix of the best of both worlds in many cases. Many options offer tremendous value, and many of them also have great potential, so whether or not you’re looking to live here or just invest in real estate here to profit from the robust property sector, chances are good you can find something that benefits you. The trick is finding the best Quail West naples florida real estate spots. Specifics will vary depending on whether you’re looking for an investment lot, a residence of your own, rental income, or just a flip, but keep reading into the following paragraphs to learn eight things to look for when seeking to identify the best Naples real estate spots.
1) Where are property values rising? Just because property values are rising in one area does not mean that they should be, so try to find out why they’re going up before you jump in. Still, buying low and selling high before things level off or crash is a tricky yet tested and true way to make money in many a market, not just real estate.
2) Where is there construction taking place? If you find a spot in Naples where there are a lot of apartments or homes being built, then that spot is already known as a hot spot with potential and a great future. However, don’t assume that its potential is already filled. While major developers might have swooped in to buy huge tracts of land for massive building projects, has anyone remembered that the former empty intersection there is going to need a real gas station? What about a Chinese take out joint? Look for the missing holes in the grand plan.
3) What areas have businesses that are growing? A few companies call Naples home to their headquarters, and some large stores, businesses, warehouses, offices, and industrial spots hire a lot of people for their location. Any one of these that is going to be adding more people in the future is going to be increasing demand for local residential properties and options. You can profit from that.
4) Where is there a lot of undeveloped lands? Massive building booms tend to happen in corners of cities or counties that are still largely undeveloped. Owning that land before the major buyers come in to scoop it all up can prove a windfall of profit.
5) Where are government and community planners looking? Some spots, undeveloped or just lagging, are often the focused target of associations between community planners and local government officials who work together to plot out how a new area should be laid out. A well-planned commercial plan creates new residences and business places while expanding the government’s tax base without breaking its existing resources along the way.
6) What’s ready for a rebound? While the real estate market in and around Naples is doing rather well, some parts of the city and surrounding region are doing better than others. That means that those looking to buy are possibly ignoring areas that are not as hot or attractive, even though there could be inventory there locals are looking to unload, especially if they’re looking to relocate to a hot area. That can mean a cheap place to start a new business or find residential property deals with significant upside.
7) What’s close to what? Neighborhoods close to major places of employment are likely going to be popular with working adults, and any parents are going to know what schools are in the area of a potential home as well as how good they are. Look for areas in Naples where a lot of business and commerce happens, and then analyze the communities surrounding those economic hotspots to figure out the relative commute times for people who need somewhere to go home at night.
8) What’s the home ownership rate in a community? This little gem is not always well-known but can be a great metric to use if you’re looking for a place to live, flip, or rent out. Statistics across a great number of markets across the nation have shown that once a neighborhood hits a home ownership rate of at least 30 percent, where 70 percent or less of residents are renting their houses or apartments, then there are tremendous dips in crime rates and calls for police. That can be very comforting to you as a homeowner, and also a great selling point to parents and families. If you see an area that’s under that 30 percent limit but approaching it, you might be seeing a troubled community that’s on the rise to respectability.
Now that you know eight questions to keep in mind while looking at the Naples real estate market, hopefully, you find the best spots around.