What are the Best Neighborhoods in South Florida?
The Best Neighborhoods in South Florida. It’s no surprise that Miami falls within the top 5 real estate markets for Foreign Investors. With popular neighborhoods leading in quality schools, neighborhood safety, shopping and dining, and other desired amenities, the Real Estate Market in Miami continues to be a luxury brand. Today, we will explore different neighborhood options and if one should rent or buy.
According to recent research, the best Neighborhoods in South Florida are Miami Beach, Brickell, and Coral Gables. Home to the most luxurious hotels, nightlife, and ocean views, Miami Beach is often labeled as a luxury brand for exclusive buyers, along with Brickell and Coconut Grove. It is evident that trends do not last forever but what truly makes the investment worthwhile is the overall, property value. Affordable homes with good neighborhoods are often overlooked. These vicinities include Homestead, Coral Gables, Midtown, Little Havana, and Miami Lakes.
The Best Neighborhoods in South Florida, Buy or Rent?
One of the most asked questions among homebuyers today is on whether they should buy or rent. Recent poll from industry professionals state that now is the best time to buy because the interest rates are at an all-time low. Whether you are looking to buy or invest, it is always better to own as you are building equity. It is projected that in 2018, emerging markets such as Wynwood and Little Havana will become more established. These opportunities are the main reasons why individuals are making the investment now as it will make a good return in the years to come.
Many of us have contemplated investing in real estate at one point or another but how do you accomplish it? How do you turn an acquisition into passive income? Once effectively discovering the property an individual may desire to invest in, they need perform a title search and acquire title insurance for protection against financial loss due from any defects that may exist. Upon completion, the investor a step closer in becoming wealthier.
If an investor buys a property in need of upgrades in an emerging community such as Wynwood or Little Havana, they can reconstruct and add value to that property. This is accomplished through renovations and upkeep. Once the investor is ready, they may list their property on the market with the help of a home for sale realtor or even qualify the property for section 8 housing rental. The beauty of making an investment is that the investor will attain passive income, one of the least taxed type of income.