Southwest Florida real estate has been all over the news in recent months with the appreciation of market values in this area. With these signs of improvement, the economy and job markets are also picking up. Many are compelled to buy homes in this part of country while the housing markets are picking up. This condition was very different back in 2007 to 2009 when speculation dominated the real estate market causing homeowners to buy with caution because of a weak housing sector.
Whether it’s Bonita Springs
, Naples, Cape Coral or Fort Myers
to name a few, there is a home that would fit any person’s requirements yet a home buyer can feel very much overwhelmed with the extensive selection and buying process involved. Here are some of the things that homebuyers would need to think about when buying properties in SW Florida which may aid them in narrowing down their search.
The price range of homes
- For most of the communities in this part of Florida, it could start from a little over $100,000 to $10,000,000. The first step of any homebuyer is to set the price range on the property that they are planning to buy. Once they have decided on their target market value they have a foundation to work from and will eliminate the guess work and time wasting of looking at any homes they may not be able to afford. Nothing is worse than touring a home you looked at while driving around, saw an open house sign and walked in, fell in love with it and then found out it was out of your price range.
Single home vs. condo unit
– Both types are abundant here in Florida. Each property type and area has their own unique qualities so it would be really up to the homeowner as to what type of property to choose. Single family homes offer space, privacy and freedom from pet restrictions while condominiums offer a community setting and freedom from maintenance. These are just of the things that the buyer would need to consider when choosing these types of properties.
Newly constructed or resale properties
- This would apply to single family homes. The buyer would have to weigh the pros and cons of each to determine what is better for them. With a new construction property, the buyer has the luxury to choose their paint, carpeting, cabinetry, appliances etc. whereas a resale property would be occupied by a previous owner and the buyer would have to make any changes themselves once they purchased the home. Price points of each would have to be compared and timing could be a factor as well. If a buyer didn’t have the time to wait for their home to be built they would more than likely be better off with a move in ready resale home.