Thinking of buying a condo in Miami? Or considering buying a house? Inexpensive or luxury real estate? Buy or rent? Do you want to live in the rhythm of Miami – a resort, entertainment, business city on the Atlantic Ocean? That’s a lot of questions, isn’t it?
The most difficult is to make the right choice in favor of one of the types of real estate. And to begin with, you need to properly understand why you need real estate.
What is better a house or an apartment in Miami
If you have the opportunity to buy real estate in Miami, you should seriously approach the decision of this issue, and to begin with – firmly understand what exactly you are looking for. After all, real estate is purchased “for centuries” (almost), and a mistake in such a case can cost you dearly. To avoid it, you need to understand the difference between real estate for housing and the same for rent.
If you want to buy an apartment in Miami at a reasonable price, determine your budget and the purpose of the acquisition of housing. After all, real estate is purchased both to live in and to rent out. The cost of real estate varies from the neighborhood, the age of the structure, location, such as proximity to the ocean. For the apartment is important landscape opening from the windows. Buy real estate in Miami inexpensively possible, but you need to try very hard to get a cat in the bag.
At the same time, apartments will be equipped with the necessary appliances – stove, dishwasher, washing machine, refrigerator. And the newer the house, the more modern the appliances. The bathrooms are usually tiled or even marble, there is a full set of plumbing plus whirlpool baths, shower cabins. The only thing the buyer will have to do is flooring, if the property is sold by the developer.
You can profitably “snatch” real estate in Miami, if you buy it from the bank, and the date of construction in this case will not be taken into account. Most are sure – the repair of such housing will cost less than the purchase of a more prestigious object. To navigate the housing market in Miami, it should be divided into 2 categories – houses and apartments. Under the individual house means “single-family housing”, and they include:
- villas;
- townhouses;
- mansions.
The difference between them in the number of levels, rooms, the presence or absence of a pool, dock, the size of the land plot, the presence of security. Apartments are located in high-rise buildings. If the apartment occupies the last two floors of such a building, it is a penthouse. However, there are exceptions to this rule. In this case, the pros and cons of the proposed housing, everyone determines for himself.
What are the advantages and disadvantages of buying an apartment in Miami
A very profitable acquisition, especially if you managed to buy an apartment at a cheap price. From the pros we can emphasize the following:
- convenient housing for periodic visits, the only thing that will be required – to leave the air conditioner on, so that because of the humid hot climate did not get mold;
- there is no need to take care of the plot;
- the apartment does not need to be insured – all windows, doors have excellent resistance to wind, and the main insurance premium is included in the utilities; but it is desirable to take care of the property;
- security guards at the entrance;
- water is free, and the electric bill for air conditioning is low if it is included in the utilities;
- the elevator and pool are the concern of the condo association.
There are disadvantages, such as:
- size restrictions or a complete ban on pets;
- renting out your home must be coordinated with the condominium association, with a minimum period of six months or more;
- monthly “maintenance” payments – communal payments – include cleaning of the surrounding area, maintenance of the building, maintenance of the swimming pool; they increase when one of the residents cannot pay his/her share;
- one apartment – one mandatory parking space, which is sometimes charged separately;
- if the building needs repairs, the costs are divided among the residents and are included in the “maintenance” (installments), or charged in a lump sum;
- if there is a marina (if the house is on the coast), there is a separate fee, and the waiting list is up to a year, sometimes longer.
In the case when you prefer a house instead of an apartment, you get very tangible pluses, to which are attached and minuses, however, not too onerous. To the first can be attributed:
- Together with the house in your ownership of the pool, pier and land, by the way, without paying for their use;
- the possibility of renting out the house for a convenient period of time, as the requirements in this case are more liberal;
- the possibility of keeping pets without any restrictions;
- no need to ask for permission for remodeling – except for demolition of walls;
- no utilities, except for a fee (maximum – 50 dollars) for lighting, garbage disposal, cleanliness of the territory;
- Landscaping at your discretion, you will only need permission if you need to cut down an old tree;
- the factor of neighbors – they are absent.
The pros of buying a private house are associated with the obligations imposed on the owner, which can be attributed to the minuses, such as:
- repairs at their own expense, if the building requires it;
- maintenance of the plot, i.e. pruning of trees and mowing the lawn, otherwise – a substantial fine; or a steep sum for the services of the relevant city organization;
- buying a house through a bank requires the purchase of insurance (cash payment is not required); property is insured separately;
- going away for an extended period of time involves paying a company to monitor the condition of the lot and the structure on it;
- the pool requires constant maintenance due to siltation due to the hot climate;
- pay for water will have to pay separately, but it will not hit the budget, even in the case of the use of sprinklers.
Townhouses in Miami
When you have a choice of buying a private house or an apartment, look at townhouses, which are a kind of “hybrid” of the two. They are managed by an association that cleans the territory and improves the site. But its control is considerably weaker than in a condominium, and you can have pets. Utility bills are lower, insurance is taken out for all owners, even repairs are sometimes done by the association. There is one parking space, but guest parking is available for a second car. You will pay for your own water.
