Take a look at “Buying versus Renting” … In the midst of South Florida’s current real estate market, Miami is certainly a great place to buy … (and better than most!).
Real estate, historically, has been a solid financial investment – especially long term. Investing now, in this current market, if you have liquidity to put down, stands to put you in good stead. Play with the numbers.
Renting – That money goes out the window each and every month … benefiting your landlord, who acquires equity at your expense.
Owning – You’ll pay maintenance and upkeep. You’ll pay property tax, mortgage, insurance, and various and sundry other things. Historically real estate increases in value… given time … potentially doubling in value over a ten year span of time or so…. assuming you buy ‘right’. Time your purchase so as to be toward the bottom of the market swing (Notice that I didn’t say “at” the bottom!). Look to buy in a decent area that holds it’s value… or an up and coming area with growth potential. Your tax advisor will guide you as to how to take advantages of tax write-offs. Rely on an experienced local Realtor Our expertise will help! Buy right, and the money you put into your home or condo should in time equate to additional equity.