What to Know Before Buying a Home in Naples, FL

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Get Familiar with the Lay of the Land in Naples, FL

Strongly considering a home purchase in Naples? Awesome! You selected a colorful city with a great balance of parks, businesses, and educational opportunities, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers nationwide and are familiar with the ins-and-outs of the Naples housing market.

Given all of Florida's growth, Naples homes aren't always easy to find at a comfortable price. Sustained cultural expansion and economic growth have helped to attract entrepreneurs, retirees, and new graduates to the Naples area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Naples and its nearby areas still offer a wide range of home types and prices. You can find duplexes, single-family homes, townhomes, condos, and (hopefully) your dream house! When buying a house in Naples, consider how near or far away the home is from the places you visit most. If possible, test drive your trip from the house to work, school, and the grocery store. Your home's location will influence almost every aspect of your life. Exploring Naples will also help you get a feel for how homes in east Naples differ from west Naples, what the communities are like, and where to find Naples's coolest attractions.

Are your finances in the right place to buy a home in Naples? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe in keeping the dream of homeownership alive and try our best to make the journey easier and more rewarding. You don't even have to stick with your decision to buy a house in Naples. We support first-time homeowners and experienced homeowners alike. Read through the following steps to help you figure out if your finances are in the right place to buy a house in Naples.

Before anything else, calculate how much house you can afford. This will help determine the price range for your Naples house hunt. Then, add up the potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in Naples will usually point you in the right direction. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Next, look at how much money you can put toward a down payment. Placing a minimum of 20% down can increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, the required down payment will depend on the type of loan you get. At this stage, getting prequalified for a loan can be extremely helpful. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, take a good look at your credit. Credit history is an important part of your mortgage application. You may be presented with more mortgage options if you have healthy credit— and options are always a good thing!

Move Up and Out: Buying Your Dream House in Naples, FL

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving feels more rewarding when you get to live in a place like Naples. Contact Mr. Cooper as you get ready to buy a house in Naples. We're here to help you along the way and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

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