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Naples Condos- Can you afford to buy the perfect getaway?

Posted by Joseph Epifanio on Tuesday, September 6th, 2016 at 11:30am.

Almost everyone rents a vacation home before they decide to buy.  Why, because it's the sensible thing, you can check out the area, see if it's really a place you want to return to year after year, plus it gives you the chance to stand back and take a look at exactly what type of property you really need. 

The beach in Naples Florida

Are you going to be visiting just for short vacations throughout the year?  Or are you planning ahead and trying to find somewhere to eventually move to as your permanent home.   Or are you like so many of our visitors to Naples, planning on being a winter resident?   

The question of whether or not to buy or rent is one that most people ask themselves.  As with most things, there are pros and con's on both sides.  Renting a property is easy, it has no attachments, no worrying about who is going to look after the property, you just rent, move in, then move out!  Finding the right property to rent can be a bit of a challenge here in Naples.  The main reason being, we are a winter destination, we have a huge number of residents who only live here for the winter season, which is four months long, November to April.  So our rental properties are extremely sought after, with many clients renting the same unit in advance, year after year.    

The other side of the coin is buying, which gives you an investment, somewhere where your money will be working for you, although property prices do fluctuate, if you look at the big picture over a few years, prices are generally on the rise.   Because of a large number of winter visitors to Naples, buying also gives you the opportunity to make money by renting out the property when you are not in town. Buying also gives you pride of ownership, plus the peace of mind that you know exactly where you will be staying.  Buying a home or condo also is a decision that needs to be considered properly.  Homes take more maintenance, the landscaping and general upkeep are far higher than a condo.  With a condo the outside maintenance will all be handled for you, in fact, if you are considering buying a Naples Condo, then all you need to worry about is everything from the drywall in, the insurance and outside running costs are normally covered for you by the Housing Association.  Condo association fees vary on the type of condo and the facilities they provide. 

Because Naples is a coastal town, we have visitors not only in the winter, but during the summer months as well, so there are opportunities to rent properties throughout the year. If you are thinking of renting in Naples at any time, our suggestion is that you make plans early, especially for the winter season. If you are thinking of buying, remember you can also rent out your property to offset some of your costs, one thing to keep in mind is that properties rent at much higher prices during the winter months, often almost double the price you would get for a yearly rental. 

Take a look at some properties which would make great Rentals in Naples below. 

Dependably yours
Joe Epifanio
Luxury Real Estate Advisor


Joe@RealEstateJoe.com
239 825 6161

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