Naples, Bonita Springs & Estero Real Estate Industry News & Updates

Is It Better To Tear Down Your Home Or Renovate In Naples

July 27th, 2016 by

Interesting article in the Naples News last week talking about the housing dilemma in downtown Naples.  Most of the original homes throughout Olde Naples, Aqualane Shores and Port Royal were built in the 1950’s and many are in need of a major renovation.  So the question is, do you renovate or tear it down and build new.  The Florida building code requires that the cost of renovating a home that sits below the base flood zone elevation, set by the Federal Emergency Management Agency, cannot be greater than 50 percent of the value of the house before improvements.  Land and housing costs have soared over the past several years, making tear-downs a profitable and thriving business, especially in older, fashionable beachfront communities in the city of Naples — some of which sit in flood zones that can limit renovation plans.  

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About the Author:

Melinda Sullivan is Realtor specializing in luxury property in the Naples, Bonita Springs & Estero areas. She updates this blog on a weekly basis and writes about anything and everything to do with buying or selling property in Southwest Florida. You will find regular blog posts on her website at http://www.bonitanaplesrealestate.com/blog/

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