Wed. Apr 1st, 2020



Buy an apartment in Miami

12 min read

Apartment in Miami!

I always wanted to live by the ocean. Perhaps that is why those who live near the ocean are always young in heart, always fresh, always smiling. Yes, and people have problems there, I don’t argue, but their gravity doesn’t put pressure on their shoulders with such force, it doesn’t hurt the soul so much. The ocean is helped by the sun, which warms even frozen hearts. With these thoughts, I firmly decided to go live on the coast, to a place where there is access to the sea-ocean, where the sunrises and sunsets will clear my mind.

Long thought where to go. He worked a lot of options and settled on the United States – a country where really affordable housing, even for residents of other, less rich, countries. I was surprised by the real estate market with its diversity, vastness and variability. That is, I, a person with a very small capital of 100 thousand dollars, could quite realize the dream of buying an apartment in the USA, approaching my dream. Even then, at first, I realized that America is indeed a country of opportunities, a country for people with their needs. I thought for a long time about where in the USA I should stay. There was a mass of final, as it seemed to me at that time, decisions, but every time I found reasons for myself to continue the search. In the end, I opted for Florida – the southernmost state of the United States. After all, it was here that I could really buy an apartment in Miami cheap.

How did I start buying an apartment in Miami

First of all, I decided to delve into the Internet. I found a lot of Russian-language sites with suggestions. It turned out that apartments in Miami and houses in Miami are comparable in price to housing prices in Russia. Agree, this is a strong argument for buying a property in Miami. Why it is there, you ask. During my search, I studied real estate prices in different states of America and came to a comforting conclusion for myself: the lowest prices for apartments in Miami. This is facilitated by: 

– in Miami, the building complex is developing most actively, which is caused by serious investments, that is, cash infusions – building apartments in Miami today is profitable and financially promising;

– real estate in Miami is represented by both modern residential complexes and old (yes, it is old, not old, as even houses in Miami, which are 60-70 years old, are very well maintained) houses; 

– Real estate in Miami is diverse, that is, people will find housing for themselves under any budget; 

– on the prices of apartments in Miami, as well as on houses in Miami, has one of the main laws of the economy – this is supply and demand. Therefore, there are always periods when the value of real estate in Miami rolls over, but it also happens when it drops to a historical minimum (like now, for example), which attracts many people from all over the world.

Of course, sitting in a chair somewhere in Russia to buy an apartment in Miami is almost impossible. Assistant needed. I began to look for this. But first I studied who in the USA will undertake to help me. As it turned out in Miami many real estate companies willing to cooperate with any client, even if he is from Antarctica.

If you decide to buy an apartment in Miami or become the owner of a house in Miami, do not chase the low cost of intermediary services. Low-paid intermediary – a specialist with a low level of knowledge, as a rule. He will not be concerned that the apartment in Miami cost you as cheap as possible, and that her story was legally pure. Choosing a dubious agent, be prepared for the most different tricks and protect you will have only one opportunity: if you will recheck everything yourself. And you need this: pay money to a person in order to double-check his work? Reputable companies that have all sorts of “trust” certificates from various associations monitor their business reputation and will not trade it out for the sake of a small financial gain. In America, status is valued, it has been developed over the years,

As a person who is not familiar with the characteristics of the US real estate market, it was difficult for me to decide on the choice of agent. I trusted those who offered the widest list of services provided, who had various license numbers on the site (you can always verify their authenticity), as well as the person who offered the most number of real estate objects: apartments in Miami and houses in Miami.

I contacted an operator who, without any interrogation, asked what I wanted and how to achieve it. I will not talk about getting a visa, going to the US embassy, ​​collecting documents and interviewing – all this is in a more detailed form with other authors, and my main goal is to tell how I became the owner of an apartment in Miami, what I mean gave in financial and personal plans, as well as all the features of the transaction of sale.

My opinion is this: if you want to buy an apartment in Miami or a house in Miami and that later this property does not cause headaches from the succession of problems associated with this housing, you should take a direct part in the transaction. The fact is that you have the option of signing a general power of attorney in the name of an intermediary who will conduct the entire transaction for you, and you do not even need to travel outside the country (for this you need to contact the US Embassy). It is better to visit (residential complexes in Miami) houses in Miami, examine them, touch-touch, as they say, personally making sure that this is a decent housing, real estate, valued correctly. I will not run ahead, but there are some pitfalls that you should know if you decide to buy an apartment in Miami cheap.

Choosing an apartment in Miami 

In Miami, I flew in a season that lasts from April to October – summer is considered to be a very hot period of the year and most tourists go to rest when a blizzard is blowing in the northern hemisphere. At this time in Miami, the sun shines, the air warms up to an average of +25 degrees Celsius, and the ocean is very calm.

My agent met me at the airport. By this time, she had booked a hotel room for me. I’ll say right away that Miroslav (that was her name) was fluent in Russian, so we didn’t have communication problems. If somewhere I did not understand something, then she tried to describe the situation so that I could understand it thoroughly. As it turned out, Mira is not the first time working with guests from Russia. Russians are one of the leaders of the real estate market in purchasing power. In the United States and in Miami in particular, there are no restrictions on the purchase of housing by foreigners, including those people who do not have a residence permit. You can own real estate in Miami and come there once a year to rest, and all the rest of the time to rent it out to other people through the agency and make money on it.

Within three days, together with the agent, we visited a dozen apartments. It was housing in modern and not very complex, as well as gardens (buildings, where many typical apartments combined into a single closed house platform with round the clock security). The specialist paid my attention to everything that seemed to me insignificant at that time. For example, does the homeowners association allow apartments for rent in Miami; whether it is possible to keep in an apartment in pets; Is there an age limit on the purchase of an apartment in Miami and much more. Yes, in America, despite the apparent simplicity, a lot of rules and regulations that are not just written on paper, they operate, they are executed, and very strict sanctions are applied to violators.

Once we were presented with an apartment of 130 sq.m. She was bright, spacious. I really liked this property, and I already wanted to say that I was ready to invest money in this apartment, but he winked at me with an eye and barely noticeably shook his head, made me pause and not be sprayed before the real estate seller that I was ready to buy an apartment now. We went outside, got into the car and Mira explained the reason for her behavior: it turned out that the apartment has an area of ​​only 100 square meters. meters, the remaining 30 sq.m. – This is the area of ​​the basement, for which the unscrupulous seller wanted to get additional income. Only then did I realize that they simply wanted to cheat us. Yes, and this happens in the United States. Thanks to competence, I realized that I was able to avoid deception and saved my money, and myself from a headache, since no one would deny

Ultimately, we chose an apartment in the second coastline, 20 minutes walk from the beach, in a high-rise residential complex built in the early 2000s. It was a relatively small housing, only 75 square meters, but very cozy, located on the 16th floor, with a balcony, on which you can see the blue ocean, palm trees on both sides of the street – I liked the view at once.

I was advised to hire a specialist – a home inspector, who for $ 300 would inspect the apartment with prejudice, make up, in our opinion, a defective act, or rather a report in which he would point out all the hidden and obvious shortcomings in this apartment. Actually, I did. As it turned out, for good reason. Having this document in hand, it is easier for you to “beat out” the seller from the seller, since prices for apartments in Miami, as well as prices for houses in Miami are formed taking into account supply and demand, other pricing factors. For example, even the most luxurious house in Miami can be cheap if the crime rate has increased in the region of its location recently. Yes, pay attention even to this – to the crime bulletin. However, the crime rate in Miami is much lower than in any other US state. This is due to the fact that big financial flows flow here, and people with money are not interested in living and being afraid of being robbed. In Miami, its own police, its own administration, its own hard law towards violators. Security is another plus that I have noted for myself.

The whole truth about buying a property in Miami

Features of the choice of apartments in Miami

In any business there are nuances, the knowledge of which will allow to approach the matter more correctly, with maximum consideration of one’s own interests. So with the purchase of an apartment in Miami. You must foresee a lot. About this and talk. 

Maraslava told me a lot, I learned a lot from the comments of Internet users who either already own property or know all the features from their loved ones who bought apartments in Miami.

First things first, explore the area in which you plan to buy an apartment in Miami. You should be interested in literally everything, starting from the remoteness of a house in Miami to a shopping center and ending with a criminal situation. Social infrastructure is an important aspect on which the comfort of our life depends. Agree that getting there every day by car for half an hour to the nearest store is nonsense. Yes, in America there are no problems with trade and all the more or less profitable points are occupied by trade. Another question is that you may not be satisfied with the range of products in this store. Medical facility – clinic, doctor’s office – should be also nearby. No, it is not necessary that the house in Miami be located near the hospital, but it is important that you feel comfortable getting there if necessary. Do not forget about preschool, school, if you are planning in the future to permanently move to the PUW in Miami with your family. Recreation facilities – restaurants, bars, entertainment centers – these are interests and needs of the second order, so they can be located at a distance from home in Miami (apartments in Miami). Do not forget about the places of recreation – parks, sports centers, which should also be a priority for you.

When you come to the apartment, inspect all the rooms, check whether the lighting, plumbing equipment works, ask how the apartment in Miami is heated (cold, as a rule, in apartments on the first floor), whether there is a fixed air conditioner (power of individual air conditioners during the hottest period of the year may not be enough). Find out how long the repair has been done, if recently, ask if the owner has the documents permitting the performance of the repair work. The fact is that in many residential complexes this requires the permission of the association of tenants. And for such types of work as the replacement of plumbing, gas, heating equipment should be invited only certified professionals. Therefore, in order to buy an apartment in Miami and then live in it for your own pleasure, you must think over everything in advance, plan for it, evaluate it.

In some residential complexes are limited. For example, you cannot rent apartments to people under 45; Pets are not allowed; it is impossible to change windows without agreement with the association; it is impossible not to pay the rent, or rather delay its payment; You can not ignore the obligation to pay property tax. Learn everything from apartment owners in Miami. It is possible that they will not tell you everything, but you will clarify the information obtained from the neighbors. Be sure to find out: 

– What is the amount of rent; 

– what is the value of property tax; 

– whether it is necessary to pay for a parking space and whether it is purchased at all with the apartment; 

– study the history of the apartment in Miami (at home in Miami) for its legal purity (maybe this property is pledged).

Thus, you will collect enough information to make a decision: to buy an apartment in Miami (a house in Miami) or to abandon it in favor of other residential real estate.

When there is not enough money

So, do not forget that in addition to the main expenditure of money to buy an apartment in Miami, you will have a lot of money to pay for all kinds of services of a variety of inspecting and controlling agents. If you do not have enough money, then you can always borrow them in a US bank, taking a mortgage loan at 3-3.6 percent per annum. In order for the bank to work with you, you must prove to them your solvency (by providing a bank statement) and financial solvency (you must have an amount equal to at least 30 percent of the price of an apartment in Miami). The more documents you submit to the bank confirming your financial independence, the sooner you will be given a loan. I will not begin to talk about all the intricacies of using mortgages in the US, read this topic from other authors. From myself I will say that I did not need a mortgage loan.

Conclusion of a contract and payment of the cost of an apartment in Miami

Carefully read the terms of the contract of sale of apartments in Miami. It is desirable that this document be translated into Russian for you, and the translation is notarized to ensure your safety. 

In America, there is a rule in which payment for an apartment in Miami is carried out in several tranches – in two or three. The first money tranche to the account of the seller of an apartment in Miami is 10 percent of the property value. Money transfer is evidence of your serious intentions. The rest of the money is paid according to the terms of the contract: on the day of signing the contract or 10 days after signing (the so-called buffer time, when you can live in an apartment to make sure that its value is correct). Leave for yourself waste maneuvers.

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