Home Buying in Cape Coral>Question Details

Sandy, Both Buyer and Seller in Crystal, MN

I am interested in a gulf access pool home in the Cape and am wondering if I was to purchase an older home,

Asked by Sandy, Crystal, MN Wed Apr 1, 2009

say 70's to 80's, will the value come back? Such as in the Gold Coast area or the Yacht club area? I would prefer a newer home but if these older homes were to regain their value, I would consider one of them. Thank you!

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Hi Sandy,

The Yacht Club and Gold Coast areas are very popular and usually are the last to be impacted by a downturn and the first to recover. When you buy real estate the most important aspect is the location. The waterfront areas mentioned above have quick access and that is a feature demanded by many of the waterfront buyers. Many home buyers prefer the mature landscaping and the neighborhood feel of the older and more developed areas like the Yacht Club and Gold Coast. When buying an older home you may want to consider the living area and whether it has been updated. You will find that your home owner's insurance rates are higher with older homes due to the elevation and wind rating.

Generally the older areas are a great investment! Now, with prices down, is a great time to buy if you show wisely and get professional help. I have lived in both the SW and the SE areas of Cape Coral. I current live off Palaco Grande and love living there. I am close to shoping and Fort Myers. I have close access by water and the neighborhood is fantastic. If you have further questions or would like some help please feel free to call or email. If you want access to the homes for sale you will find thousands of homes, pictures, aerial photos, mapping and more at http://www.search.capecoralhomesnow.com. Good luck!

Steve Koffman
Century 21 Sunbelt
#1 Century 21 team in Florida, #3 team in US 2008
239-443-2463
Steve@Koffman.com
Over 15 years experience in Cape Coral
Web Reference: http://www.Koffman.com
0 votes Thank Flag Link Thu Apr 2, 2009
Its my opinion that almost anything you buy at this time will make you money over time. Who knows what that amount will be..
There are some amazing deals to be had at this time. One thing you will want to consider is how much insurance will cost on a older home compared to a newer home, also what the flood insurance will cost due to the elevation being less than the newer homes.
There are some areas that will need to have a Wind Policy also, especially close to the river.
Let me know if I can help in any way.

Jay LaGace
LaGace & Whitt Partners
Century 21 Birchwood Realty Inc.
4040 Del Prado Blvd.
Cape Coral, FL 33904
239-443-8795
Web Reference: http://www.capecoralc21.com
0 votes Thank Flag Link Wed Apr 1, 2009
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