How to Determine Your Non-Negotiables When Buying a Luxury Property

Danny Skelly  |  July 18, 2022


Naples is a city in Florida with about 19,100 residents. It's considered part of the Naples-Marco Island metropolitan area and lies approximately 125 miles west of Miami, sitting right on the Gulf of Mexico. Naples was founded around 1886 and earned its name because its weather was similar to Naples, Italy — perfect year-round! Its first resort hotel opened in 1889, and Naples remains an overwhelmingly popular tourist hotspot.

The city is widely known for its high-end estates and prime golf courses. Locals refer to Naples as the “golf capital of the world" because it has the greatest number of golf holes of any locale in Florida. The consistently warm, sunny weather makes it a haven for snowbirds and sun-worshippers. The state is quite a popular destination for those searching for fun in the sun — and not only during Spring break but for full-time residency.

Naples luxury real estate currently sits at a median price of over $730,000, compared to a high of close to $600,000 one year prior. The city is in a seller's market, meaning there are more buyers seeking luxury real estate in Naples, Florida, than properties available for sale. Sellers could receive multiple offers, offers to exceed their initial asking prices, and bidding wars from buyers looking to secure their dream homes amidst stiff competition. Before you sign on the dotted line, ensure you’re clear on what constitutes wants versus deal breakers in your new home. Here are some considerations.

What is a non-negotiable?


Non-negotiables are desired conditions and features in and around Naples luxury real estate that you are not willing to compromise on when buying a home. They are sometimes known as "deal breakers," and it's an essential component of the home-buying process to understand and identify what qualifies as non-negotiable to you. Non-negotiables are personal preferences based on your goals, lifestyle, principles, and values.
 
Some examples of non-negotiables are structural flaws, significant home repairs, aversion to specific colors or floorplans, or even the house’s address or street name. These features are ones that you either cannot live without or cannot tolerate living with.

Location, location, location



How often have you gone to an open house where the house is advertised as being on an acre or more, only to find it positioned 12 feet from the road? How about a home in the middle of its property without shade because the trees are too far away?

In the second scenario, you could invest tens of thousands of dollars in mature trees to plant around the house, but that’s a tall order. Additionally, there is the question of the house’s location in the city, suburbs, or rural settings. Do you want the energy and goods/service accessibility that city life offers, or would you sacrifice those amenities for a quieter existence in the suburbs or a rural place that could be hours away from a city?

Price


Price is almost always the number one deciding factor when purchasing luxury real estate in Naples, Florida, or for Marco Island luxury real estate (Its neighbor to the North). However, a buying decision can't solely be made because of price without other considerations. It’s crucial to weigh the pros and cons of each property you’re looking at to determine which home is best for you and factor in the cost of the house.

One home could be in the perfect location — the best neighborhood with a school nearby for your family. But the yard might be too small to meet your needs, or the property might not face the water. What are the necessities for your home? How much will you spend for that waterfront property and sacrifice elsewhere to meet your needs?

Considering the price of each property can help narrow down your options and make the process a bit easier. If price is no object, and you can afford to add luxury amenities to your home, you have more options! However, ensure your finances are in order before committing to your dream home.

Layout, bedrooms, and bathrooms



Even if you’re just starting a family, it’s a wise move to look for a home with at least three bedrooms. Why? Because a spare room, no matter what it's used for, is a benefit to the family in residence and a positive selling point for future buyers. Would you look at a two-bedroom home with the same favor as a three-bedroom? Even as a single resident, three is a wise number of bedrooms to start with—one for sleeping, one for guests, and one as a work/study space.

Secondly, luxury real estate in Naples, Florida, should have at least three bathrooms—or at least two and one-half baths—if it's a three-bedroom home. Even if you nab your dream home with only one bathroom, it would be shortsighted to assume you could easily, or inexpensively, add a second bathroom. Plumbing, load-bearing walls, and accessibility are all expensive factors in adding a bathroom to your home, so head off this headache with an adequate number of bathrooms at the start.

Lastly, what about the layout? Do you need one or two floors, or do you want a two-story home because it looks more expensive? Consider the long-term ramifications of aging in place in a multi-story home versus a single-story, ranch-style layout.

Local realtors are available to help you determine your specific non-negotiables. Ready to take the next step? Reach out to local agent Danny Skelly for expert guidance.




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