Wed. Jun 19th, 2019

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Real estate in Miami: buying a house or apartment!

5 min read

Miami! 

Just one word, but how many associations are associated with it: eternal summer, sunny days, snow-white beaches, various entertainment facilities – entertainment centers, night clubs, golf clubs; the wealth and luxury of shops, hotels, yacht centers, incredible cuisines of local restaurants and, of course, the dynamically developing residential real estate market are apartments in Miami and houses in Miami.

Current Trends 

The US has adapted to the crisis of the end of zero years – the economy shows stable growth, and stimulating the real sector contributes to improving the welfare of the population, which, in turn, is in a hurry to invest free cash with an eye to earning additional profits. In this regard, real estate in the US – an attractive piece of cake, from which you can cut. Today in America there is a tendency to conclude a lucrative deal for buying and selling housing, renting it out. This is used by investors – not only US citizens, but representatives from other countries of the world.

Prerequisites for buying a property in Miami 

It will not be easy to buy an apartment in Miami or buy a house in Miami if you do not have a representative in this region who knows the local real estate market well. As practice shows, assistance in this matter will be useful and necessary, which will affect the profitability of the transaction in favor of the buyer. It is always easier to choose a broker, a realtor, if the organization has a certificate of signing the “Code of Ethics” – a special document that guarantees transparency and trust.

This specialist is able to realize your dream – a house by the sea. Only it will not be necessary to build it somewhere on a desert island. It is enough to come to the United States, to Florida, to choose a suitable budget accommodation: apartments in Miami and houses in Miami are presented for every taste and budget. It is worth at least to say that the cheapest apartment in Miami costs 70-80 thousand dollars, and the most expensive apartment in Miami – 6 million dollars! Thus, it does not matter how much money you have, the main thing is that the dream of living in a house overlooking the ocean is quite feasible.

You can buy an apartment in Miami in the new building – a high-rise complex, a penthouse or a townhouse. Each of the proposed options has its own advantages and … but it’s impossible to write about the disadvantages of living in an apartment overlooking the ocean – well, what are the disadvantages here ?! What is it worth enjoying the gaze of the scenery! 

If you are a foreigner and are keen to acquire real estate in the United States, choosing Miami as your place of residence, then you will need: 

– to have money or borrow money from the bank to buy an apartment in Miami; 

– independently issue a purchase and sale transaction or entrust this business to knowledgeable people by writing out a power of attorney for them at the US consulate.

This is, in fact, everything. There are no other restrictions on buying a home in the US and, in particular, in Miami. This is what distinguishes America from other countries of the world: money is going to meet it. Do not forget that by purchasing real estate in the United States, you fall under the legal protection of American laws, therefore, you acquire with the apartment and additional guarantees of your financial security.

Why Miami? 

It is difficult to imagine another such place where so many diverse real estate is concentrated in such a large number. We are talking now about Miami. Everybody goes here: famous and unknown people, and everyone has one goal – to buy an apartment in Miami or become the owner of a house in Miami. Why? The answers are below: 

– Miami is located in one of the best climatic zones of the planet; 

– Favorable environmental conditions; 

– High quality real estate: houses are built for the life of people, not for beauty; 

– Accommodation in Miami has an investment appeal, therefore, always in price and in demand; 

– Miami has a well-developed social infrastructure: there are schools, medical facilities, shopping centers, recreation and entertainment facilities;

– In Miami, there are no problems with employment, which will allow you to quickly establish life in a new place; 

– Modern residential complexes are houses that have all the necessary infrastructure, which allows apartment residents to receive quality services without even leaving their home in Miami; 

– modern residential complexes – these are free-plan apartments in Miami, including parking spaces, anti-glazing terraces, external and internal swimming pools, sports grounds, gymnasiums and gymnasiums, club houses, security and others;

– Florida has a preferential tax treatment. In particular, those who first acquire real estate in Miami, can withdraw from under the taxation at least 50 thousand dollars. Thus, acquiring housing in Miami, you automatically fall under this benefit, which also contributes to your rooting in a new place; 

– construction companies are interested in apartments in Miami to be sold, and therefore contribute to consumer demand due to the housing supply by installments, payment by other methods of payment at a minimum interest rate or on other conditions; 

– Real estate in Miami is extensive, diverse, and therefore there is always a chance to choose the best option – to buy an apartment in Miami with an ideal price-to-quality ratio. 

How to choose the best apartment for yourself in Miami?

Focus on your needs. What is important for you: so that from an apartment in Miami you can enjoy the beautiful views of the sea or are ready to sacrifice it for the sake of more immediate comfort, for example, more living space, because in the first case the price of an apartment in Miami by the sea will be much higher than that located in a house on the second or third shoreline.

Pay attention to the amount of rent (monthly payments), property tax (annual payment). Of particular importance is the condition of the apartment in Miami. All equipment – electrical, plumbing, heating, etc. – must be intact. Ask how long the repair work was done in the apartment. If recently, ask them to show documents allowing them to be held. In particular, in many residential complexes there are associations of tenants who monitor the cleanliness, order in the house, and maintain it in a healthy and liveable condition. The same associations issue all sorts of instructions for eliminating violations, authorizing documents, etc.

Ask about the rules and regulations that operate in this residential complex. It may be so that you will not be allowed to earn on your own housing in your absence – rental housing in Miami is governed precisely by the tenants’ associations. 

Find out the year of construction of a house in Miami, because this is also an important aspect that will affect the price of real estate in the future. Buying an apartment in Miami in the new building is always more profitable with the subsequent sale of this property.

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