Miami Florida has been occupied for thousands of years, from the Tequesta Native American tribe to Spain’s ruling with Pedro Menedez de Aviles as its first governor. Julia Tuttle is credited with being the first and only woman that founded a major US city. Later being settled in 1825 and founded on July 28, 1896.
The metro area of Miami is a global powerhouse in a myriad of arenas such as art, cruise ports, international trade, finance, cuisine and tourism. According to the GaWC, Miami is considered an Alpha level global city. In 2018 it was considered the third richest city in the USA and eighth in the world. Brickell is the main street downtown and home to the Brickell City Centre mall. Brickell has a plethora of international banks and law firms.
Miami, Florida is also known as The Magic City, some say it’s because of its rapid growth, others say that you must live here to first understand why it’s so magical. In addition, it is within a few hours of Ft Lauderdale, West Palm Beach, Naples and Key West. It is about an hour boat ride to the Bahamas and other islands.
South Florida is growing at a rapid pace and is a tourist hotspot, with international travelers calling Miami their second home. The Miami Skyline is one of the most impressive in the country, making this city even more attractive.
Some of the most expensive real estate in the USA is located in the metropolitan Miami area. Areas such as Fischer Island, Key Biscayne, Miami Beach, Coral Gables and Cutler Bay. Sunny Isles Beach is a short drive away from Miami and is the most densely populated area of Metropolitan Miami.
Purchase Mortgage Loan
You may want to know how to maximize your mortgage refinance as levering money in a prudent manner may allow you to lower your expenses living in Miami. Miami is an expensive city to live in as more luxury buildings continue to be built.
Miami is a large metropolis located on the southeastern Florida coast. The city sits between Miami beach to the east, Kendall to the south, and Miami Gardens to the north. It is geographically close to other big cities in the area, providing residents with additional connections. Among these are Fort Lauderdale and West Palm Beach.
Real Estate in Miami
The city offers employment opportunities. It has a diverse economy based on tourism, culture, the arts, international trade, finance and commerce. It is a location for many types of professionals.
The city’s amenities also draw people to Miami, for instance, offering many beaches from north to south. These include Sunny Isles Beach, Haulover beach close to the Intracoastal Waterway, and Surfside Beach which is free from major commercial developments. It also offers a vibrant food scene, art and cultural venues, and a thriving nightlife.
Miami is International
In 2019, GaWC classified Miami as a Beta+ level global city. This rating means that it scores highly on measures of business activity, cultural experience, information exchange and human capital. Currently, the city and metro is home to more than 2.8 million residents, making it among the largest in the country.
Real estate buyers move to Miami for its ease of access. Located on the eastern tip of the Florida peninsula, it is accessible by land, sea and air. The city boasts an international airport - primarily for business and tourist trade. And it also has several shipping ports with links to Latin American countries to the south.
Miami offers a large variety of properties. Over the past twenty years, builders constructed many new rentals and condos in the downtown area. These include both high-rise and suburban options. Thus, buyers have a choice between large detached homes or apartments overlooking the ocean, with perhaps a few other options. Buyers also like Miami for its range of parks and nature reserves, found throughout the city. The Oleta River State park, for instance, is a large urban park in North Miami Beach, covering more than 1,043 acres. It offers sandy beaches and opportunities for canoeing and kayaking. There are also cycling trails for off-road bicycles cross-crossing the area.
Real Estate Miami: Neighborhoods
Miami offers a variety of historical neighborhoods. Brickell, for instance, is in the heart of the city and features both skyscrapers and high-rise apartment buildings. By contrast, Coconut Grove by the water and the Old Surf Town, is home to a diverse cultural scene. Miami is also about an hour and a half drive to Delray Beach, and an hour to Dania Beach.
The following are some of the locations buyers choose to live in Miami:
Little Havana sits west of downtown Miami. It is the home of Cuban culture in the city. The area offers plenty of history, going nearly all the way back to Miami’s founding. Buyers often move to the area for the food culture. There are plenty of bars, bistros and restaurants in the neighborhood offering traditional Cuban as well as regular American dishes. Downtown Miami is roughly 20 minutes away on public transport.
South Beach is known for its nightlife and water-based recreational activities. It sits next to Miami’s beach and offers art deco architecture. Residents get around using bus, car, or local transportation solutions. Getting to downtown Miami takes around 15 to 25 minutes.
Pinecrest is a location in Miami, about 12 miles southwest of Downtown. Buyers are attracted to the area because of its suburban pace of life. It is home to many parks, playgrounds and farmers’ markets, making it popular among families.
Miami Beach is a nine-mile island that sits to the east of downtown. Buyers move here for its outdoor recreational opportunities, including jogging and skating. It also plays host to sidewalk cafes, concession stands, and some historic sites. It is very common to have a jumbo loan in this area.
Kendall is 21 miles south of downtown Miami. It offers comfortable suburban housing and a quieter atmosphere than more central areas. Are you considering buying a condo in Miami and are looking for a Mortgage Quote? We might be able to help you with this process.
From sandy beaches to cultural exhibits, there are many things to do in Miami. This Floridian city has made a name for itself as one of the most coveted places to visit or stay in the country. Tourists and homebuyers are all keen to get a piece of the Miami pie. The main reason for its popularity is down to the diversity of attractions on display.
We offer mortgage brokerage services in Miami and the surrounding area. As a result, we've compiled a list of the top things to do in Miami for tourists and locals:
Eat! An Amazing Multicultural Things To Do In Miami
Miami is a multicultural city with influences from around the world. This is reflected in the bustling food scene, with inspirations from so many different cuisines. Eating out is one of the best things to do in Miami as there are so many options available. While it's hard to pick one restaurant that stands out, one key recommendation is to attend the South Beach Wine and Food Festival¹.
This is an annual event that celebrates the very best in food and drinks throughout the city.
Enjoy Modern Museums & Galleries For Things To Do In Miami
Eating great food isn't the only great thing to do in Miami. In fact, the city has a wealth of fantastic museums and galleries. It offers many cultural delights that you take in at your own pace. A highly recommended place to visit is the Phillip and Patricia Frost Museum of Science². This is a massive museum that comes with interactive exhibits, a planetarium, and even an aquarium. It's the perfect place to go with your family, but it's also a good day out on your own.
If you fancy something a little bit different, head to the Vizcaya Museum & Gardens³. This is one of the most unique places in Miami, as it feels like you've wandered into 18th Century Italy. Here stands a massive villa with gorgeous gardens and a museum filled with antiques from the Italian Renaissance era. As far as cultural things to do in Miami go, this is one of the top picks.
You can also find a multitude of art galleries across the city. This includes more traditional galleries, as well as ones displaying street art. There are almost too many to list, so our best advice is to stroll around the city and pop into whichever ones you see first.
Jungle Island Is A Hidden Gem On Things To Do In Miami
Jungle Island is found on Watson Island and is considered the premier entertainment place in Miami⁴. It's a magical oasis full of different adventures for people of all ages to have. There's natural wildlife to witness, as well as a host of adventure playgrounds.
Going to Jungle Island should be mandatory for anyone that lives or visits this wonderful city. It's one of the best things to do in Miami for families, couples, or people on their own. The lovely waterfront views only accentuate the wonders of this place.
Everglades Is A Top WildLife Attraction Near Miami
Everglades National Park is the ultimate thing for you to do while in Miami-Dade. It's not the only park in the area, but it is the most famous. Here, you get to traverse the swampy marshlands and see some of the iconic Floridian wildlife. Including alligators, which tends to be a top attraction. Alligators can be seen in the watery areas, along with lots of different birds, turtles, snakes and much more. Perhaps most surprisingly of all, panthers have been spotted in the Everglades!
If you're keen to explore the natural delights that Miami-Dade offers, take a trip to Everglades National Park; you won't be disappointed.
A Sunny Haven: Exploring the Allure of Miami Florida Real Estate
Welcome to Miami, Florida, a sunny haven known for its vibrant lifestyle and breathtaking beaches. Nestled along the Atlantic Ocean, Miami has long been a sought-after destination for those dreaming of a tropical paradise. But Miami is not just a place to visit; it's also an enticing location to call home.
In this article, we will explore the allure of Miami Florida real estate and uncover why it has become a top choice for homebuyers and investors alike. From luxurious waterfront mansions to stylish condominiums with stunning ocean views, Miami offers a wide range of options for every taste and budget. Whether you're looking for a serene retreat or a bustling urban lifestyle, Miami has it all.
With its booming real estate market, Miami offers not only a place to live but also an opportunity for growth and investments. The city's unique blend of culture, diversity, and thriving economy make it an attractive choice for both domestic and international buyers. From the trendy neighborhoods of South Beach to the exclusive communities of Coral Gables and Coconut Grove, there's a slice of Miami that can capture anyone's heart.
Join us as we delve into the enchanting world of Miami Florida real estate and discover why this vibrant city continues to captivate homeowners and investors from around the world.
Overview of Miami's real estate market
Miami's real estate market has been thriving in recent years, and it's easy to see why. The city's unique blend of culture, diversity, and thriving economy make it an attractive choice for both domestic and international buyers. According to a report by the Miami Association of Realtors, the median sales price for single-family homes in Miami-Dade County was $390,000 in 2020, up 9.8% from the previous year. The median sales price for condominiums was $253,000, up 1.6% from 2019.
One of the reasons for Miami's strong real estate market is the city's low inventory. With limited new construction and high demand, properties in Miami tend to hold their value well. This makes it a great location for both primary residences and investment properties. In fact, Miami has been named one of the top ten real estate markets to watch in 2021 by Forbes.
Another factor driving Miami's real estate market is the city's favorable tax environment. Florida has no state income tax, and property taxes in Miami-Dade County are relatively low compared to other major cities in the U.S. This makes it an attractive location for both homebuyers and businesses.
Popular neighborhoods in Miami
Miami is home to a variety of neighborhoods, each with its own unique personality and charm. Here are some of the most popular neighborhoods in Miami:
South Beach is known for its iconic Art Deco architecture, white sand beaches, and vibrant nightlife. It's a popular destination for tourists and locals alike, and it's home to some of the most expensive real estate in Miami. Properties in South Beach range from historic Art Deco buildings to luxurious oceanfront condos.
Brickell is Miami's financial district, and it's a popular location for young professionals and business travelers. It's home to some of the city's tallest skyscrapers, as well as luxurious condominiums with stunning views of Biscayne Bay.
Coconut Grove is a historic neighborhood known for its lush greenery and bohemian vibe. It's a popular location for families and outdoor enthusiasts, and it's home to some of Miami's most exclusive properties.
Coral Gables is a picturesque neighborhood known for its Mediterranean-style homes and tree-lined streets. It's a popular location for families and retirees, and it's home to the University of Miami.
Types of properties available in Miami
Miami offers a wide range of properties to choose from, including single-family homes, condominiums, townhouses, and apartments. Here's a closer look at each type of property:
Single-family homes in Miami range from historic Art Deco properties to modern mansions with waterfront access. They offer more privacy and space than condominiums, but they also require more maintenance.
Condominiums are a popular choice in Miami, especially in urban areas like Brickell and Downtown. They offer amenities like swimming pools, gyms, and 24-hour security, and they require less maintenance than single-family homes.
Townhouses are a good option for those who want the space and privacy of a single-family home but don't want to deal with the maintenance. They're often located in gated communities and offer amenities like swimming pools and tennis courts.
Apartments are a popular choice for those who want to live in urban areas like Downtown Miami. They offer convenience and affordability, but they also come with less space and privacy than other types of properties.
Factors to consider when buying Miami real estate
Buying real estate in Miami requires careful consideration of several factors. Here are some things to keep in mind:
The location of a property is one of the most important factors to consider when buying real estate in Miami. Different neighborhoods offer different lifestyles and amenities, so it's important to choose a location that fits your needs.
Miami offers properties at a variety of price points, but it's important to set a budget before you start your search. Factor in not only the price of the property but also any maintenance costs and property taxes.
The type of property you choose will depend on your lifestyle and budget. Consider factors like maintenance, amenities, and space when choosing a property type.
Financing a property in Miami can be challenging for international buyers, so it's important to work with a lender who is familiar with the local market.
Benefits of investing in Miami real estate
Investing in Miami real estate offers several benefits, including:
Strong rental market
Miami's strong rental market makes it a great location for investment properties. With a high demand for rental properties and limited inventory, rental rates in Miami tend to be high.
Favorable tax environment
Florida's favorable tax environment makes it an attractive location for investors. With no state income tax and relatively low property taxes, investors can keep more of their profits.
High property appreciation
Miami's limited inventory and high demand make it a great location for long-term investments. Properties in Miami tend to appreciate well over time, making it a good option for those looking to build wealth.
Tips for buying real estate in Miami
Here are some tips to keep in mind when buying real estate in Miami:
Work with a local real estate agent Michael Williamson - Michael@bkrs.com
Working with a local real estate agent like Michael Williamson, who is familiar with the Miami market can save you time and money. They can help you find properties that fit your needs and negotiate the best price.
Research the neighborhood
Research the neighborhood before you make an offer on a property. Consider factors like crime rates, schools, and amenities.
Get pre-approved for financing
Getting pre-approved from MortgageQuote.com for financing can help you narrow down your search and make a more competitive offer.
Consider the long-term
When buying real estate in Miami, consider the long-term. Properties in Miami tend to appreciate well over time, so think about how the property will fit into your long-term investment strategy.
Renting vs. buying in Miami
Deciding whether to rent or buy in Miami depends on your individual circumstances. Here are some things to consider:
Renting is often more affordable than buying, especially in expensive neighborhoods like South Beach. However, if you plan to live in Miami long-term, buying may be the better option.
Renting offers more flexibility than buying. If you're not sure how long you'll be in Miami, or if you're not ready to commit to a particular neighborhood, renting may be the better option.
Buying a property in Miami offers the potential for long-term investment growth. If you're looking to build wealth, buying may be the better option, seek guidance from Michael Williamson for further clarification.
Working with a real estate agent in Miami
Working with a real estate agent in Miami like Michael Williason, Michael@bkrs.com, can save you time and money. Here are some benefits of working with a local agent:
A local real estate agent will be familiar with the Miami market and can help you find properties that fit your needs.
A local agent will have negotiation skills that can help you get the best price on a property.
Access to off-market properties
Michael Williamson, Michael@bkrs.com, may have access to off-market properties that are not listed publicly.
Conclusion: Why Miami is a sunny haven for real estate investment
Miami's unique blend of culture, diversity, and thriving economy make it an attractive location for real estate investment. The city's strong real estate market, favorable tax environment, and high property appreciation make it a great location for both primary residences and investment properties. Whether you're looking for a serene retreat or a bustling urban lifestyle, Miami has something to offer. So why not consider Miami for your next real estate investment?