We are on a down trending market with rising rates.

I am licensed in both Maine and NH, but it should be an interesting 2023 in regards to seeing if the trend of out of state buyers continues. 

One of the interesting trends from 2020 was how affordable markets - those with cheaper rents - significantly outperformed expensive markets in terms of rent growth. 

@Johnson Yu  With the average home price in Canada trending north of $600k, there are many compelling reasons for exploring the USA (or other countries) for investing.

@Inno Ekeh Just a heads up, many water utility companies in Sacramento have started, or are trending towards, billing by usage.

In 2020 alone, rates hit new record-lows 16 times, and the trend continued into the early part of this year.

Assuredly, appreciation is not a guarantee, but the current market trends indicate this pattern continuing.  

If none of this sounds appealing then you also  could look in Brooklyn, where rates are going to follow the trends on long island.

If you have a realtor or contractor on board whom you trust, I highly recommend asking for their advice about market trends, and trusting their advice when determining the items on your list of renovations!

It sounds like you’ve done your research on evaluating the value of your property but if you’d like, I’d be happy to chat with you to discuss the current trends of the local market here in Sarasota and provide you with a price evaluation.