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5 Things to Know when buying a home in Naples FL

5 Things to know about buying a home in Naples, Florida

So you are thinking about calling Naples Florida home? Awesome! I don’t blame you. Naples on average has about 264 days a year of sunshine and the average temperature is around 75 degrees (although not in the summer). Home prices are a tad bit higher than the rest of the state of Florida. A single-family home in Naples will run you about $500,000 to $800,000. This, of course, depends on what you are looking for in a house and the community where it’s located. But we’re just getting started! Here are 5 things to know about buying a home in Naples, Florida.

  1. It’s more than the price of the home.

It’s not just the price tag of the home you need to think about. Whether it’s a condo or a single-family home, most houses in Naples are located in some type of community. Why does this matter? Association fees. They can range from a few hundred dollars a year to ten’s of thousands of dollars a year. So while you are working on how much you want to spend on your new home make sure to factor in how much you are willing to pay in association fees. For example, you might see a condo for sale for $150,000 but the monthly fees may be $700 a month that comes out to more than $8000 a year in association fees. Those fees may cover things such as golf, tennis courts, fitness centers, and monthly items, like water, and trash removal, but you will want to know what’s included. Be sure to ask!

2. Naples is a luxury market.

What does luxury mean? It’s not just a price point. Luxury, also, is a state of mind and, in this case, the state of mind for the customer. The customer may be a seller or a buyer. The luxury seller doesn’t have to sell the home. There’s no pressure on them to make the sale. They may own the house outright. This may be a second or third home for the seller. They may not feel the need to justify their price. They have a number they want for the home and will let it sit on the market until a buyer sees the value in the home and is willing to pay it. If not, they will take it off the market because they don’t have to sell.

On the other hand, buyers in Naples tend to be luxury buyers. These are buyers that don’t have to buy. They may be buying a winter getaway. (Naples doubles in population during winter months.)These buyers don’t have to buy a place, but they have the money to make the purchase if they see something they like. This can make for an interesting market at times. Prior to 2021, the Naples market swayed more towards a neutral real estate market. Post 2021 it’s become a seller’s market much like the rest of the country. Inventory in the area is 70% lower in 2021 than it was a year prior.

3. Naples is different than the rest of Florida.

Naples is different in many ways from the rest of Florida. It’s one of the most beautiful towns in the state and the beaches are rated some of the top in the country! But that’s not all that makes Naples different. If you have bought and/or sold a home in other parts of the state you might be surprised to learn that Naples uses their own real estate contracts. Florida has state-approved contracts which are used throughout the 67 counties. Naples has their own listing, and selling contracts which are different from the rest of the state, even Lee County which is just a few miles up the road. So what does this mean for you? One of the key differences with the NABOR (Naples Area Board of REALTORS) contracts is it’s written into the contract the buyer pays title insurance whereas with the state contract this point is negotiable. (You can still negotiate this on the contract but you will need to do an addendum.) This can be added expense if the buyer isn’t aware upfront.

Something else that should be noted is most deals are written on the standard NABOR contract while most deals in Florida are done on an “AS-IS” contract. This is something you will need to understand as a buyer or seller and what it means for you, be sure to ask. One more difference to note with the NABOR contract is the inspection. It’s much different than the state contract so make note!

4. Cash is king, especially in Naples.

Naples is one of the wealthiest cities in the country so this stat shouldn’t come as a surprise. However, what does this mean for real estate transactions? Simply put, a good percent of buyers are using cash to purchase their new homes. If buyers are getting a mortgage they are typically putting down a good percent of money (20% or more) and these financed deals are typically conventional loans. If you are a cash buyer, it’s important to understand that you are not alone, and low ball offers because you are cash are not going to be appealing to the seller. Many sellers, in fact, will wait until they get a cash offer and turn down financed deals just to have an ‘easier’ transaction. If you are getting a mortgage, keep this in mind as you write your offer. You will want to make your offer strong and appealing if you are up against cash especially in the 2021 market.

5. Does it come with the furniture?

More than likely, yes. About half of the homes we sell, we sell furnished. I recently learned Southwest Florida is second only to Las Vegas in selling homes that come furnished. But often purchasing a home with furnishing can become a complicated process.

It’s important to get everything in writing whether it’s an inventory list of what stays with the purchase of the home or an exclusion list which states what’s being removed prior to closing. (Extra tip: make sure personal property is clearly identified) In short, if you want to know if something stays with the home you are purchasing, ask, and get it in writing.

If you are getting a mortgage on a home, understand that’s what you are financing the home, and not the furniture. The furniture will need to be in a separate agreement with the seller.

Additionally, many people wonder about the difference between homes being offered furnished vs. turnkey. If advertised correctly, a furnished home is just that, a home being offered with the furniture. A turnkey property implies that not only does the furniture come with the property, but items such as linens, towels, plates, cups, coffeemakers also come with the purchase of the home. But again, you will want to make sure everyone in the transaction is on the same page with this verbiage and you know what you are buying.

Is there more to know when buying a home in Naples, Florida? Of course. But don’t worry that’s why we are here. We are well versed in selling homes in Southwest Florida and full-time Florida REALTORS. We are happy to answer any questions you may have, feel free to reach out directly to us. Be subscribed to our blogs to see future insight into Naples and the surrounding area and find us on social media at Pinky Knows Naples.

Sue “Pinky” and Josh Benson are full-time, top producing agents with RE/MAX Affinity Plus. Josh grew up in Naples, Florida, and is an avid golfer. Pinky has been an agent for more than a decade and is a sought-after real estate marketing trainer and speaker. She’s been featured in numerous news articles and segments.

To search homes for sale on our website:

To contact Josh/Pinky: 239–241–1265

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