For most people, buying a home is probably the biggest investment they can make in life. In addition to giving you a sense of pride, owning a home comes with quite a number of benefits, including tax benefits, home equity (the home is a form of savings), and the fact that real property keeps appreciating, meaning that you will most likely have a high resale value. Additionally, owning a home provides you with alternative income possibilities. For instance, you could decide to rent out part of your home to vacationers and get a decent annual income from vacation rentals.
Well, if you’ve decided it’s time to relocate to Miami, Florida, you can never go wrong buying a home there. There are quite a number of reasons to move to Miami, including the fact that the Florida capital is relatively warm and sunny all year round, with plenty of sandy beaches, numerous theme parks, energetic nightlife, and full of business/employment opportunities. The best part… wait for it, real estate is quite affordable in the magic city. But the big question is, how exactly do you go about buying a home in the heart of ‘Little Cuba’? Here are some pointers on where to spot the perfect home in the heart of Miami, starting with the two most important things home buyers should do.
Do Your Research
As earlier iterated, a home is a huge investment and before buying one, it is only diligent to conduct some deep research first. In the heart of Miami, there are various neighborhoods (discussed later below) that you can find a good home for sale. While doing your research, you will want to consider things such as your budget, the kind and the ideal size of home that you’re after. In addition to this, it’s important to factor in your preferred environment, and its nearness to and from public amenities such as schools and health centers as well as your place of work. Before settling for a particular neighborhood, you will also want to think about things such as crime rates (safety), as well as business or employment opportunities.
Use an Experienced Miami Realtor
In addition to the pleasant weather conditions, plenty of beaches, favorable tax laws, many things to do, and the fact that real estate is relatively quite affordable in Miami, there are many things that would make anyone want to move to the Sunshine State capital. For instance, the magic city also boasts a strong, yet highly diversified economy, not forgetting that it is home to more than 170 multinational company’s headquarters. Especially if you have a keen interest in manufacturing, trade, real estate, and tourism, Miami is one of those places you won’t go wrong investing in, let alone living. In short, the reasons to move to Miami are endless.
Now, it’s no doubt that from your research, you’ve probably noticed that there are plenty of real property options for you on the market in Miami. In this case, choosing a property in this city on your own can be a bit of an overwhelming task, especially if you’re specifically targeting the heart of the magic city. To avoid the many frustrations that come with finding and buying property in such an area, your best bet would be to work with a professional real estate agent. The article “These New Construction Miami Condos For Sale Will Change the Skyline in 2019” from Manhattan, Miami says that due to the sharp increase of Miami housing units that are asking for $1 million or more, first time buyers and investors are in need of professional real estate agents to make sure they put their money into the best developments. A good real estate agent can help make it a breeze for you to not only spot the perfect home in Miami, but they will also help you close the deal and get your dream property at an affordable rate.
Some Places to Look
If you’re more into urban life, Downtown Miami is the place for you as a home buyer. From single-family residential houses to high-rise condos, you can easily find the perfect home in downtown Miami. The slight downside is that multi-family units and bungalows are extremely rare in this part of Miami, and if available, they can cost you quite a fortune, if you’re lucky enough to close the deal before someone else does. All the same, a simple search on a real estate listing sites such as Zillow or Trulia will give you dozens of condo options to choose from.
Wynwood – Edgewater
This is another great neighborhood to look for your ideal kind of home in Miami’s heart. Despite being known as the arts district of Miami, having amazing food, and awesome entertainment, Wynwood also has plenty of housing units for sale as well as rentals, including condos, single-family units, townhomes, and even multi-family houses.
Located in Miami Dade County, East of Coral Gables, Coconut Grove is another neighborhood with plenty of houses for sale, condos, apartments, and even multi-family units. It also has numerous parks, educational institutions, entertainment joints, and great food points. Whether you’re looking for a rental home or you seek to buy one, there’s something for everyone in Coconut Grove. This is not to forget that it is also as safe as Downtown Miami.
No wonder it is often referred to as “The City Beautiful,” Coral Gables is one of themost beautiful neighborhoods in the heart of Miami. It’s full of green from trees, flowers, and other attractive natural elements that create a natural Garden Type appearance. The architecture is spectacular, the food is wonderful, and the activities to do in this part of the city are endless. The median house sale price in Coral Gables is approximately $665,000 and you can get many houses, condos, townhomes, and much more.
If you’d be more comfortable not in the central business district and not far away either, Buena Vista can be a great place to look for your next home. With a median listing price of approximately $427,500 and $261 per square foot for a single-family housing unit, it is one of the most affordable neighborhoods to buy a home in the heart of Miami. What’s more interesting, you will find single-family homes that date back to the 1920s, especially in the Buena Vista East Historic District. With a median age of between 31 and 37 years, Buena Vista is considered ideal for youths and families of between 3 and 5 members.
As you can see, you have plenty of options when you decide to move and live in the heart of Miami. The main trick is to do your research carefully and use a good real estate agent to help you locate your ideal home in some of the above-listed neighborhoods and you’re good to go. We hope that the above guide will help you spot the perfect home in Miami’s central district.