Interested in buying one of those gorgeous condos in Miami Beach with the hope to make a move to the sunshine state – or at least grab up some Miami real estate for a vacation home or rental?
Florida continues to grow in population, with hundreds of people making the move south on a daily basis. If you want to find the best Miami properties it takes a little strategy. Here are 7 tips to help you grab the condo you’re looking for.
1. Timing is Everything
The ideal time to buy luxury condos in Miami Beach is during the summer months. During the colder months people want to escape the cold weather. They’re looking at and bidding on real estate during this season and this often results in bidding wars. Streets empty in the summer though, removing a majority of the competition while the price for real estate drops.
2. There’s More to Miami than South Beach
South Beach is a “Hollywood Hotspot” in that the movies have over-promoted the region and branded it as the place to be. There are a lot of other gorgeous, interesting communities with their own stretches of sandy beach including Coral Gables, Brickell, Hallandale Beach, Sunny Isles and of course Miami Beach.
3. Hire a Good Inspector
Florida may be beautiful but it’s home to hurricanes and a lot of moisture. There are also less than scrupulous contractors how there who refurb homes with poor quality materials. When you’re looking at luxury condos in Miami Beach make sure they are up to hurricane code, and make sure there’s not a mold problem.
4. Mind the Traffic
Traffic gets ugly during the high season and public transit in Miami is limited. Rush hour around Miami can be chaotic so choose from luxury condos in Miami Beach that offer great location, easy access to resources you need/like, with minimal travel time.
5. It’s Less of a Buyer’s Market
The days of short sale bargains are coming to a close, at least for Miami real estate. You’re far less likely to find luxury condos that have any kind of a bargain price, and you’ll likely not find a great deal of wiggle room on asking prices.
6. Get an Agent
Given the abundance of real estate and all that Miami has to offer, it can be a little overwhelming to find everything you need. Go directly to a real estate agent first; they can help you find the right luxury condo that fits your needs and wants.
7. Mind the Elevation
If you want to save money, keep your feet near the ground. The higher you go in floors or elevation within some luxury condo locations the higher the price on the condo. Keep in mind that the higher you go, the higher the resale value of Miami properties.