Florida is one of the major U.S. destinations of international residential real estate buyers. Approximately 25% of foreign home buyers in the U.S. purchase property in Florida. In the 12 months ended June 2014, the dollar value of purchases of non-resident foreigners buying property in Florida is estimated at approximately $7.97 billion, an increase from the previous 12-month period's level of $6.43 billion. Canadian buyers accounted for approximately 31.6% of the market in 2014.
Canadian buyers will definitely want to check out the 10 Reasons to Buy a Home in Naples, Florida, or browse Naples condominium listings below.
"Perfect" pretty much describes the weather in Naples. Just about the time you're here, escaping the Canadian winter, the average daytime temperature is 77 degrees, and often sits in the low 80's. Temperatures start to creep into the 90's during the summer months. Most days are sunny, with a light breeze and the occasional shower.
With over 30 miles of soft white sand, it's not hard to find the ideal spot to stretch out and relax. Unlike other communities, you won't find souvenir shops, fast food restaurants, or other touristy types of retail outlets along a Naples beach. Most are bordered by parks, preserves or single-family homes with incredible Gulf views.
Currency As of August, 2015, $100.00 US dollars were worth $131.48 Canadian dollars. For the most part throughout recent history the Canadian dollar has had stronger market value than the United States dollar so your money will go further in buying a home.
There are almost 90 golf courses in, or close to Naples, Florida. This means, that during a 3-month stay you can play a different course each day, and maybe double up on a few of your favorites. With at least 35 Naples golf communities to choose from, you could even buy a home overlooking your favorite course.
Whether you're looking to toss a line from the local pier, or spend a day deep sea fishing for that trophy catch, Naples offers just that, and everything in between. Naples is also a boater's paradise, with several marinas offering direct access to the Gulf of Mexico, Ten Thousand Islands, or the Everglades. If boating is your passion, we can show you waterfront homes conveniently equipped with their own private docks.
The national average price for homes sold in Canada as of December, 2014, was $474,600 (US$395,962). In Naples the media closed sale price of a home ending in June, 2015, was $290,000. So Canadians buying in Naples will for the most part end up with more house for their dollar.
Something to consider when buying property in the United States is how long you will hold onto the property. As you know the markets change continually, ideally one would buy low and then sell high. This will all depend if you are looking for an investment property or purchasing a vacation home for your family and friends for years to come. Buyers can retain their investment exclusively as second homes, or use them as vacation rentals and have someone else pay the mortgage.
Most Canadians have the advantage of being in a fairly high equity position with their existing homes. This provides great leverage when applying for a mortgage for a second home.
Retired snowbirds used to dominate the Canadian investor population in the U.S., but that has been changing over the years. Now, the trend is turning to young families with kids, looking for a warm vacation destination, and financiers looking to add vacation rentals to their list of investments.
The relaxed lifestyle in Naples offers a chance to unwind and truly get away from the pressures of your "old life." With the beach being so close, most people get up early, take a long walk along the sand, maybe to a local pier. Cast a fishing rod, look for some shells, then grab a coffee at a nearby cafe and plan your day. In Naples, you can be as busy or laid back as you desire.
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