Buying and Selling Miami Beach Real Estate

Miami Beach Lot


Financially that may be a good strategy but take heed and purchase your Miami Beach lot with care. Why? Because it can happen that the lot you buy today is not suited at all for the Miami Beach home you want to build in the future. Here are some things to watch out for.

Fixed Rate Loans in Miami Beach


Advantages: As indicated earlier, predictability is the biggest incentive for choosing a fixed-rate loan for your Miami Beach real estate mortgage.

Disadvantages: Fixed rate loans usually come with higher interest than the start up interest rate on a fixed loan. Down payments for your Miami Beach on conventional, fixed-rate loans are usually higher than the down payment required for an ARM.

Building Miami Beach Home Equity


A popular question from prospective Miami Beach homebuyers relates to building home equity. Buyers like to estimate how much a home may increase in value based upon past appreciation. One of the many advantages of home ownership is that appreciation is based on the home’s market value rather than on the actual dollar amount invested or the down payment so that a $100,000.00 home that appreciates 5% is now worth $105,000.00, especially in Miami Beach.

With a typical 30-year loan, most of your monthly payment goes toward interest payments with only small amounts going to the principle in the early years. Only half the principle is repaid in the first 23 years of the loan. You can build Miami Beach home equity faster by choosing a 15-year loan instead of a 30-year loan.

Buying a Miami Beach Fixer-Upper


This, of course, depends on the condition of the Miami Beach home and the estimated cost of the repairs you must make. Miami Beach real estate in a good neighborhood that is priced about 25% lower than others that are in good shape may be a good deal if it simply needs cosmetic or minor structural repairs. If the house is a gut job, that is the entire inside will be torn out and rebuilt the 25% rule may work and may not so estimate your costs as closely as possible.

Shopping by neighborhood makes good sense when considering the purchase of a fixer upper. As a buyer, the more you know about the Miami Beach homes in a particular area the better able you are when it comes time to judge whether or not a home your are considering meets the financial parameters you are looking for.


Miami Beach INVESTMENT


Investing in Miami Beach as a second home or as a rental has many advantages. But before you invest, it is a good idea to acquaint yourself with the actual sales price of similar properties and to get a picture of the Miami Beach market in general. Please contact this office for detailed information on Miami Beach market

Miami Beach SAVINGS


Everyone wants to buy the home of their dreams at the lowest possible price. Here is a tip for making the best Miami Beach buying decision. Make sure you know the actual real estate values in the area or areas where you plan to buy so that when you come across a home priced below market, you will know it.