The Right Way to Buy A Luxury Estate

Even though the real-estate and housing market is extremely volatile and vulnerable to change in Naples, Florida, the luxury real estate Naples, FL market has always been a strong competitive space for both real estate agents and buyers. Even though modest priced houses become difficult to sell for realtors, astronomically-prized houses are always on the priority lists of high-end buyers. From a spick-and-span condo and a historic Newport estate to a links community within the South, there’s an excess of decisions in high-end homes, however it is these high-end homes that are realtors’ favorite sells because they get to sell them at as high as they wish and get the most commission out of the buyer. So, here are a few tips on how to smartly buy a luxury real estate in Naples, FL.

Property for sale in FL

  • Understand the searching process: Most luxury real estate in Naples, FL are not listed in the real-estate listings in order to protect the seller’s identity. It is only through the personal connections of a good realtor that a luxury estate that is up for selling can be discovered. Hence, offline search should always be given way more preference as compared to online search. 
  • Visits or Google earth and not Jpegs: It is true that some estates are not as photogenic as they are luxurious. Many buyers leave out the best estates on the basis of the way they look in pictures. Therefore, paying a visit to the estate or checking it out on Google earth is the right way to go about it. 
  • Get an area-specific Realtor: If a real estate agent is not familiar with the area in which your dream luxury estate is located, she/he might be unable to strike the perfect deal for you. Understanding the seller’s personal position as well as the area’s worth is the most important aspect of selling a good estate. 
  • Get a trustworthy financial planner and realtor: If your financial planner or realtor doesn’t have your 100% confidence, you’ll find yourself in a paranoid state that they are in some way or another trying to dupe you. 
  • Do not overlook the importance of title insurance: Title insurance comes in handy when you suddenly realize that you have made a huge deal and have forgotten about something non-crucial, yet significant.Overlooking title insurance might lead to you spending much more that you would have for a title insurance. 
  • Hire an attorney for co-operatives and condominiums: It is always advisable to take legal and financial suggestions and help when buying a huge-amounted real estate. Not only does that secure the financial future of the estate but also give you an insight of the little things that might have been overlooked by you. 
  • Don’t be too shy to negotiate: most realtors while trying to sell a luxury real estate in Naples, FL, quote up to 40-45% price higher than it really is. There is always room to negotiate, so make sure that you buy the estate for what it is worth and not a penny extra.
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One-Time and Ongoing Costs You Have To Cover After Buying a New Home

You have started exploring Florida real estate property listings. It means you have enough funds to invest in a new home. Investment in a new home or any other property is a major financial decision. This investment brings substantial rewards and substantial responsibilities as well. Therefore, you need to evaluate your readiness for this important financial decision. There are many other one-time and ongoing expenses related to the purchasing of a new home.

Following Are the One-Time Expenses

Remodeling

It most of the cases, you need to remodel the house. Your contractor can give you the estimation of the cost involved in remodeling of the house.

Furniture

No matter whether you are investing in a one-bedroom apartment, two-bedroom apartment or three-bedroom apartment, you need beds, dining table, chairs, couch and many other pieces of furniture. As the size of property increases, you need more furniture.

Appliances

Check HVAC, water heater and appliances in the house. Make sure that these appliances are working properly. You might need to upgrade appliances in future.

Following Are the Ongoing Expenses

Loans, Taxes and insurance

You need to pay principal and interest. Once you own a property, your taxes and insurance will be increased.

Homeowner Association Fee

The homeowner association fee depends on the size of the property you are investing in. The homeowner association fee of a condo is different from the association fee of a single family home.

Interior and Exterior Maintenance

Sealing deck and driveway, painting trim or siding, replacing roof or windows, cleaning or repairing gutter etc are expenses involved in exterior management. When it comes to interior maintenance, you have to cover plumbing, appliance and electrical maintenance, wall covering, carpets, and floor and wall covering.

Utility Bills

Perhaps there is no need to tell you about these utility bills. You have paid these bills when you were in your home for rent. Most probably you were living in a one-bedroom apartment. Now, you are an owner of a big house. You will have to pay utility bills for the entire house. A real estate agent can give you the better estimation of utility bills you should expect.

Pest Control

Bedbugs are tiny vampires. You have to perform termite inspection. The presence of pests in your house depends on the location. You need to hire professional pest control services to eliminate termite, spiders, insects, rodents and other pests.

Lawn Care

It was not your job to take care of the lawn when you were living in a house for rent. Now, it will be your job. You have to buy a lawnmower and other tools for lawn or garden maintenance.

So, these are the one-time and ongoing costs you have to cover after buying a new home. Meanwhile, explore Florida real estate property listings and best of luck with your search for home.

Four Simple Tips for Buying Commercial Property in Naples

Investing in a residential or commercial property for Sale in Naples is an important decision. Don’t do this without proper financial planning. There are a lot more expenses you are unaware of. And, you have to cover these expenses as well. However, first of all, you have to be aware of the Common Scams by Fraud Real Estate Companies. Usually, people take the assistance of professionals like real estate agents or real estate companies in Naples. Some of these companies are real and some of these companies fake.

The costs of real estate properties in Naples are pretty high. Renting commercial properties is affordable these days. Still, an entrepreneur invests in commercial property for sale in Naples. Having the ownership of a commercial real estate property comes with numerous benefits. Rents increase with time. You have to pay more rent.

On the other hand, it is good to have ownership of a commercial property as its value increases with time. So, buying a commercial property in Naples is beneficial. So, here are some simple and useful tips for investing in commercial properties.   

Get Acquainted With Local Real Estate Market

There are some financial, legal and environmental concerns to be considered when you are selecting a location. The supply of labor, material and other resources should be easily available. There are local tax rates, the cost of electricity, water and other utilities. Apart from this, you have to address several environmental issues like air pollution, kind of solid waste the plant will produce, water treatment etc.

Take Advice of an Accountant 

This decision is a financial decision that you do not take every day, every week or every month. Some entrepreneurs buy a property only once or twice in life. Therefore, to make sure you have enough funds and you are investing the right amount of money, it is always better to consult an accountant. The accountant will do tax, loan interest rate and all other calculations.

Get Ready With Your Finances

It is not easy to get commercial real estate financing approved. Any banker will provide funds only after making sure that you have high-quality financial statements. Moreover, the banker will also see whether you will be able to generate and retain profit or not.

Finally, Choose the Right Builder

Choose an experienced builder, someone who has the knowledge of the industry. For example, if you are going to start a restaurant, find a builder who has successfully executed these types of projects in the past. Go through the work history of the contractor.

Be careful. Count on certified real estate companies in Naples or a certified real estate agent.

What Are Pros And Cons Of Buying A Pre-Owned House?

A shelter is one of the three basic needs of human. Depending on your budget, needs and preferences, you can opt one from three options. You can look for homes for rent, you can buy a new home or you can find a builder for building a new home. No matter you are going with which option, it is important to choose an ideal location. You certainly do not want to live in wrong neighborhood. Having a chat with neighbors can save you from investing in wrong properties.

People usually explore real estate MLS listings to find homes for rent, land for building a home or MLS homes for sale. Every MLS property is verified. So, you are not going to be a victim of real estate scams. Living in a house for rent does not give the sense of ownership. Building or buying your own home will make you the owner. We have covered the benefits of building a new home in Naples FL.

Today, we will cover the pros and cons of buying a new home. Buying pre-existing home may or may not be the right choice for. So, before you explore real estate MLS listings, read this.

Pros of Buying Home

Easy and complete inspection

Layout, floor plan, everything about a pre-existing home is clear and visible. It is not on a paper.

Move Quickly

It takes several weeks to build a new home. Once you have signed the deal and all other formalities are completed, you can move in on the same day.

Flip Your Home

After buying a home in Naples FL, you can make some updates that can increase the value of the house. And, when you find a profitable deal, you can buy a bigger and better home.

Delay Upgrade Cost

You have a roof over your head. You can make necessary upgrades when your budget allows.

Cons of Buying Home

Upgrade Cost

You need to invest a lot of time and a decent amount of money to upgrade bedroom, kitchen, bathroom and other areas in the home.

Can’t Change Layout

The layout and floor plan of the home might not be exactly what you want. Some minor changes are possible. However, you have to stick with the existing layout.

Higher Insurance Cost

The insurance cost of a pre-owned home is more than that of a newly constructed home. Features of a pre-owned home are usually not up to date.

Decoration Cost

Updating flooring, removing wallpapers, repainting walls and there are several other costs involved in the decoration of the house.

Understanding the Rental Listing Scams – These Scams Are Real.

In one of our recent articles, we have listed 5 Common Scams by Fraud Real Estate Companies. If you think that only buyers will fall victims of these scams then you will be disappointed. You and many other looking for houses for rent in Naples FL are also the targets of scammers. They also want to take advantage of the growing real estate Naples FL. So, when you start hunting for houses or office for rent, you have to be aware of online listing scams.

You have to be watchful while researching potential rental listing. There are many companies you can rely on for staying safe in Florida Naples Real Estate. However, you need to know how rental scams work.

Here Is How Rental Scams Work?

The agent or home owner is asking you for sending money through money transfer services like Moneygram, Prepaid Visa Card or the Western Union. Sometimes, homeowners or real estate agents express their inability to show the property. They say that they are out of the town for a few weeks or months. Or, they say that they have moved to some other state. The deal sounds good but they expect payment through money transfer services and also stay reluctant to showing the property. Turn down these deals. Or, at least do homework and try to verify the information provided by the seller or the agent.

These scammers utilize different tools and various methods for posting fraudulent listings. There are many websites where they post fraudulent listings. When they are posting listings, they post some photos of the property but just copy and paste the details of the property. So, the details of that property are not real. Listing management tools are also of great use for these scammers. A single fraudulent listing is posted on more than one websites.

Spotting and Avoiding Renting Scams

First of all, always protect your private information. Here is how to spot and avoid fraudulent listings.

  • They expect rent of the first month and promise to show the property on some other day. So, never send money without visiting the property in person.
  • The owner or the agent says that he is living in some other city due to professional commitments so he can’t meet. Pay only after meeting the owner or the agent.
  • The details of the property are too good to be true. This is most likely to be a scam.
  • Make use of Google and research the phone number and email address of the owner. Try to verify the information provided the owner or the agent.
  • Always confirm that the owner or agent possesses the legal rights for renting the property.

Growth in Florida Naples Real Estate attracts innocent people and scammers as well. Therefore, verify the available information. Take professional assistance of certified agents or Florida Naples real estate companies.

Naple FL Homes For Sale

Buying a New Home? Better Talk with Neighbors before Buying.

Talking with neighbors before buying a new home in an unknown location can help in making the buying decision. They have been living there for decades. This can help in making sure that you will be compatible in that neighborhood. Neighbors can also disclose some material facts that seller can hide or forget to mention. They know everything about the location.

You can also look for several signs of neglect. Overgrown grass in the public park, roadside trash, no garbage bin etc means authorities of that area are not serious. When you are looking for Naples FL homes for sale, having a conversation with neighbors can save you from investing in a wrong property. A house or any other property in a bad neighborhood is difficult to resell.

Engel and volkers

Maybe, It Just Appears To Be Fine

The new home has everything you want. It is at a good location. There is plenty of space. There is a quaint yard. School, college and market are at walking distances. Everything is fine. Or, it just appears to be fine. The seller will not disclose that the basement is often flooded due to the misbehaving sump pump or leakage. The seller will never tell you that one of the boundaries is disputed. You don’t know anything about the nature of your immediate neighbors. Therefore, talk with them. This will help in ensuring what kind of relation you will have with them.

Here Are Some Questions You Should Ask From the Neighbors  

Not everybody is comfortable in talking with strangers. Therefore, be polite. Smile. And ask following questions from neighbors when you are in search of Naples Fl homes for sale.

For how long you have been living in this neighborhood?

Is there anything about this street you would like to change?

What is your best experience in the neighborhood?

What are the things you do not like in the neighborhood?

Is there anything odd or unusual about the house you are willing to buy?

Can you tell me about one or two recent criminal activities in the neighborhood?

How easy is it to get along with neighbors?

After spending a few minutes with neighbors, you are likely to find out a lot of surprising things about the property. You are going to invest your hard-earned money in that property. You are going to raise your kids in that neighborhood. Therefore, before you sign, know your neighborhood.

Always count on a reliable property advisor to find Naples Fl homes for sale.

Top 5 Tips for Finding a Builder for New Construction in Naples FL 

You might have read an article posted a few weeks ago in which we have explained – “How to Choose Location for Your New Home”.   If you want to count on a real estate advisor then you can read our article – “How to Find the Best Real Estate Advisors”.  What’s next? It’s time to find a company for new construction in Naples FL. You cannot let any random company handle your project. You are building your dream home. Therefore, you want to hire a company capable enough to execute your project. So, we bring you some tips for finding a construction company for new construction in Naples FL.

finding a builder for new construction

Before You Approach a Company

People know their budget. However, still they want to know how much it is going to cost. However, the builder cannot tell you anything about the pricing without studying the project. He needs a drawing and complete details of the project. Therefore, first of all, have a drawing or a document with details of the project.

Keep Scope of Project in Mind 

Is your home going to be a luxury one? Or, is it going to be a small house? You might want to have a house with a well-organized office. A company expert in the construction of small houses does not have the resources required for the construction of a condo. Therefore, if you want a luxury home then find a company expert in the construction of luxury houses. You can hire a general builder for building a small house.

Make a List 

Just as you have bought your Smartphone using the internet, you can also find a builder for new construction Naples FL using the internet. Now make a list of the top builders (say top 7 builders) in your area. Client ratings and reviews help in reducing the size of the list. Now, you have top 3 or 4 candidates in the list. Angry and unsatisfied clients do not forget to share their bad experiences on the social media profiles of these companies. These ratings and reviews, and experiences of clients help in finding the right builder for new construction Naples FL.

Bidding Is Also an Option

Competition in the market is always beneficial for the consumer. Therefore, competitive bidding can help you in saving a decent amount of money. You can send details of your project to the top 3 or top 5 builders on your list.

Building Contract Is Important

This contract is a legal agreement between the client and the builder. According to this agreement, the builder has to undertake the new construction in Naples FL and the client has to pay. There are some “what ifs” in this agreement. For example, what if the project is not completed on time or what if the client delays payment.

Therefore, buy yourself some time to compare different builders and hire the right one for new construction in Naples FL.