Monday, April 5, 2021

Coconut Grove, a great location to live in Miami

 


Coconut Grove is one of the oldest neighborhoods in Miami, it was founded around the 1800s and is located between Brickell and the city of Coral Gables, but… besides this, what makes it special and unique?

 

It is strategically located. It is close to several key areas in the city; the financial center of Miami, as well as shopping and entertainment areas. Coconut Grove also offers families a quiet space to live, surrounded by vegetation and trees, which provide a touch of privacy and exclusivity to the houses and villas in the area.

 

Among the activities that you can enjoy in the area are:

 

Visit parks such as Peacock Park: with recreational areas, baseball fields, basketball, and tennis courts. It serves as the stage for various events during different times of the year.

 

Visit the Vizcaya Museum & Gardens, a museum that was originally built in 1914 as a European-inspired winter villa, surrounded by gardens, sculptures, and fountains. It is currently a certified historical monument and museum.

 

In Coconut Grove you can bike the Commodore Trail, a 5-mile paved route that runs along South Miami Ave., Bayshore Dr., and Douglas Rd.

 

In addition to this, it is very close to the Peacock Park marina and there is a good area of ​​restaurants, cafes, and bars for all tastes, which feed the "bohemian and chic" life of the urbanization.

 

Coconut Grove is the ideal place for a quiet life, close to everything that is important in Miami. Enter our website and visit the properties for sale in Coconut Grove https://www.miamiriches.com/forsale

Friday, March 5, 2021

Why New Yorkers keep moving to Florida.

 


Lower taxes, better weather, and the coronavirus are driving nearly a thousand people a day to come to Florida, according to the Miami 2020 report. According to the Daily Mail, and citing The New York Times, during the coronavirus pandemic hundreds, nearly thousands of Americans are reportedly moving to Florida every day as entire families leave cities in upstate New York, New Jersey, and Connecticut.

 

The reason?  Even though "everything is more expensive" in the Sunshine State, the interest rates on properties are not so high compared to the rest of the cities in the north of the country.

 

The environment propitiated by the pandemic paralyzed prices so much so that, for example, in counties such as Palm Beach, new contracts for single-family homes over $1 million experienced a 268% increase compared to the same date last year.

 

According to The Daily Mail, since COVID-19 began, the so-called "rich end of the market" expanded "in major South Florida markets," as well as in Tampa and St. Pete.

 

Experts believe that the possibility of a second wave of COVID-19 also plays a role in this movement of approximately 950 people daily. What better place than Florida, with its warm temperatures, to pass the disease?

 

The reality is that home sales in some parts of Florida have more than doubled since March 2020, in what they call an "unprecedented demand."

Friday, February 5, 2021

All that you have to know to rent or sell your property in Miami


There are many things to take into consideration if you are looking to rent or sell your property in Miami.

Many people take several factors into account before making a decision, that is why we believe you should consider the following if you want to rent or sell your property:


1.   The location: This is a fundamental factor.

The location of a property will make the difference for people who want to buy your property. If you are close to universities, transportation, shopping centers, or if you are close to the main access roads of the city, you will be able to sell or rent your property much faster.


2.    Be careful with the price. Remember that everything depends on the area where your property is located.

Do not try to set a price above the market, because if you do, it will be very difficult for you to rent or sell your property in Miami.


3.    Expenses: If you are going to rent your property, take the expenses into account.

There are many mishaps or accidents that your potential tenants may suffer. For this reason, before generating a rental contract, take unforeseen expenses or accidents into account.


4.    Remember to have all your papers in order:

Remember to have all your papers up to date, so when the time comes to sign a rental or sale contract for your property, you will not have to wait so long for the paperwork.

 

Take these factors into account and you will see that you will be successful with the sale or rental of your property.

Tuesday, January 5, 2021

How is real estate changing according to the demands of the new generations?


 

Hard as it may be to believe, today's millennials aren't living in their parents' basements; rather, they're buying multimillion-dollar homes.

At 38%, millennials -adults born between 1981 and 1996- represent the largest proportion of homebuyers in the U.S., according to a National Association of Realtors survey released last year. "They are just as interested in owning a home. They've just waited longer to buy their first one," says Bradley Nelson, director of marketing for Sotheby's International Realty. Affluent millennials, Nelson says, are going big.


Market Preferences

Millennials are the most educated generation in history, have higher incomes and are poised to inherit more than any previous generation, according to a May 2020 report from the Brookings Institute.

Millennials are characterized by their tech-savvy and environmentally-conscious values, and their millennial preferences are poised to dramatically shape the market.


Luxury headwinds

In addition, amid the indiscriminate decline in overall tax revenues caused by the pandemic, governments around the world are re-evaluating property and estate taxes as a means to cover budget shortfalls.

"For all buyers, tax implications are going to be a bigger part of their consideration when buying a home," Nelson says.

For the growing cohort of young, affluent buyers eager to get their dream home, millennials face a dearth of options that meet their unique tastes. "Inventories are near historic lows across the board, and especially for homes with the features they're looking for," Nelson says.


The world is definitely changing, and millennials know it. Miami is a place that they will probably like to live in.


Saturday, December 5, 2020

Advantages of an elevated home.

A growing number of Miami Beach homes are being designed with higher-than-ground living spaces, as homeowners and builders try to protect against frequent flooding and rising sea levels.


Buildings or elevated structures have been repeated as a constructive typology throughout the history of architecture; popular architecture has been able to develop very interesting solutions such as the hórreos, which are small warehouses raised on columns, or constructions supported on large piles over rivers or swamps.


So, let's take a look at the main advantages of buildings raised over the ground.


1-Preventing animals from entering the house.

2-Protecting the interior from filtration and humidity.

3-Protecting the lower part of a house from contact with people, animals, or objects, which causes faster deterioration of the facade.

4 -In certain cases, helping to better isolate the interior of the house.

5-Saving, in a simple way, the irregularities of the ground without having to alter it with earthworks.


Thursday, November 5, 2020

Will you buy your first house in 2021?

 


Are you planning to move or buy a home by 2021?

There are several things you need to consider.

The year 2020 has taught us the importance of home, of having terraces, open spaces available, places to share with family, or even an office to work in.

Thanks to the experience lived during this year, we know what we need to move or buy a new house.

Visual appearance

One of the most important elements when making a choice: the looks.

How the house looks inside, what amenities it has, which schools, supermarkets, avenues or other places are near this property. Many are the factors we see, before making a purchase choice.

Appearance is essential and very important at the time of choosing.

If there is a house that you liked visually, don't go into debt before taking out a mortgage.

Focus on your mortgage first, and then, once it's granted, you can make other arrangements.

Check out all the little details

1. Location: If you have bought a property that is not located in one of the best areas, you may regret this decision over time.

2. Structure and finishes of the house: It is very important to carefully check the structure, walls, rooms, kitchen, bathrooms and other elements of the house, because if you get many imperfections, you may have more trouble fixing the house you want to buy than looking for another option.

And finally, do not forget the importance of knowing a little more about the location of the house and the neighbors who will be near you, this is an essential aspect for many people when buying a property.


Monday, October 5, 2020

What should I consider to live in Miami?

 


Getting started in a new city is never easy, especially if you don't have enough money to pay for future expenses, but it is possible with good advice and good planning.

 

What you should keep in mind when reviewing budgets is:

 

Is buying preferable to renting?

Buying a home is a big financial commitment that cannot be taken on impulse. Emotions aside, if you are not financially ready, you should continue to rent until you are in a stronger position.

 

Employment

Miami offers many employment opportunities in different sectors. The most demanded are finance, tourism, health, education, and technologies. You can find a number of job offers online at:

Usajobs.gov

Careerbuilder.com

Craigslist.org

 

Taxes

When we talk about taxes in the United States, we have to distinguish different administrative levels. First of all, there are federal taxes that are the same all over the country. Then, each state establishes its taxes. And finally, the counties and cities charge some taxes as well.

 

That's not counting things like health services, education, food, clothing, and services like electricity, water, and telephone.


Saturday, September 5, 2020

What areas to visit in Miami and what you can enjoy in each of them.

The great city of Miami is known for its pleasant weather, fabulous beaches, and the influence of its international population. It's divided into several neighborhoods, areas, and districts.


Below is a list of 5 neighborhoods you should not miss, and a summarized description of each one of them.

Sunny Isles

Often referred to as the Florida Riviera, it is a beach community with a relaxed atmosphere and a racially mixed population. You can find everything, from 50's beachfront motels to luxury apartment towers and hotels.


Little Havana

This small neighborhood is located in downtown Miami and is the Cuban neighborhood, the place where immigrants settled in the years following Castro's revolution. The main street is known as Calle Ocho (SW Eighth Street) and is the heart of the place.

Here, you can enjoy authentic Cuban food, handmade cigars, aromatic coffee, and Latino rhythms. In Maximo Gomez Park, you can see some people who meet daily to play dominoes, talk about politics, and share stories.


Little Haiti

This other ethnic neighborhood has art galleries, Haitian bookstores and music shops, and the Cultural Center, where dance and theater shows are performed. A bronze statue of General Toussaint Louverture, the father of Haitian independence, is located northeast of 2nd Avenue and 62nd Street in the heart of "La Petite Haiti."


Design District

As its name suggests, this is the design district, the place where the city's creatives live and work. It is an area full of art galleries, graphic design studios, workshops, decoration stores, antique stores, and even some innovative restaurants. All of those stores can be located between North Miami Avenue and 2nd street.




Wednesday, August 5, 2020

Have you thought about investing in real estate in Miami during the pandemic?


Despite finding ourselves in a unique situation in the world, which has completely changed our lives, we can still think about the idea of ​​investing in real estate in Miami. Here are some of the reasons why you should do it:

1. Supply and demand:

Right now, life has changed for everyone, and the need for a home is essential. Being at home and working at home is life today; therefore, investing in real estate could guarantee a home that could be appreciated in the future.

2. Low interest rates:

In June of this year, due to the coronavirus pandemic, mortgage interest rates reached a record low. So, if you've wanted to buy a home, this is the ideal time. The low mortgage interest rates have caused investors to reduce the rates of loans and private loans.

3. Economic uncertainty:

Many companies have closed their doors to keep social distancing; the pandemic has generated many problems in the worldwide economy. Many people will be looking to sell that second home that they have at a good price, given the economic uncertainty in which we live.

These are some of the reasons why you should invest in real estate in Miami. A perfect climate coupled with a unique property purchase opportunity is at your fingertips!


Source: https://www.entrepreneur.com/article/355259

Sunday, July 5, 2020

Differences between investing in real estate and buying real estate in Miami

 


Have you ever wondered what the difference is between investing in real estate and buying a property in Miami? Here’s some information for you to take into consideration:

If you would like to invest in real estate, it is important to know how to do it. One of the main differences between investing in real estate and buying real estate is that when you invest, you put market needs before personal interests or tastes.

If you are going to invest in real estate in Miami, make sure to check:

-       The location of the property

-       Nearby services and amenities

-       That the property is in good condition

-       That the property is located in an area with high added value

When you buy a property, your emotions and tastes are involved, whereas when you invest, you take other factors into consideration, like, for example, the square meter price of a property.

Remember that if you are interested in investing in Miami, you should consult a Real Estate Market Report, to know the capital gain, the time on the market, the gross rental profitability, the price-to-income ratio and the price-to-rent ratio.

Monday, June 8, 2020

What are the ideal properties for singles?


The road to building your own home can be both challenging and exciting at the same time.  It is true that starting life in a place all by yourself might be harder than if it were with someone else. However, Miami is the home of many uprising artists, entrepreneurs, and bachelors who seek for a brand-new start on their own.

 

Choosing the apartment


One of the many advantages of acquiring a home by yourself is that there are no debates, long discussions, or give-and-takes. However, even if this is no longer part of the challenges, buying as a single person has its tricks. That is why at the beginning it is useful to consider a large unit with roommates or a smaller property. Your first home won’t be necessarily your last one after all. In Miami, the options for studio apartments and one-bedrooms are limitless, covering your space needs with affordable prices.

Another great option for first home owners are condo-townhomes, which are valued approximately at $190,000. These townhomes are usually located in community neighborhoods and might resemble single-family properties (they usually share a wall with the neighbors and have a yard and a parking spot). Why are these properties good options for singles? Besides the space and functionality, these properties are great candidates for selling when it is time to move out (that is why looking for properties that appeal to married couples, even while being single, is a great hack).

 

 

Considering areas

 

Along the apartment itself, choosing a good area in Miami is critical for any newcomer. An area that fits your interests and hobbies is the perfect opportunity to create connections and establish professional and personal relationships.

 

Some of the greatest areas for singles in Miami are Coconut Grove, one of the oldest in Miami, with a big market for townhome condos and an amazing nightlife (cinemas, cafes, restaurants, malls, etc); Coral Gables, the home of the University of Miami, great for nature and art lovers; Brickell, one of the most chic and cosmopolitan areas in the entire city, where you can both work and have fun; and, finally, the famous South Beach, with its nightclubs, hotels and beautiful ocean views.

 

At Miami Riches, we are waiting for you to start your own adventure!


Monday, May 4, 2020

How has COVID-19 affected the world of real estate and its perspectives in Miami?


“Real estate development is the business of evolution”. Bruce Eichner, founder of Continuum Company (Forbes, 2020).

 

We couldn’t agree more with that statement. It is a reality that the Coronavirus pandemic has changed permanently our way of living and our ways of doing  business. Real estate is (and will keep on) changing, perhaps faster and on a bigger scale than any other field, now that people understand the importance of a space that can serve as a home, as an office, and as a recreation area. In the new normality we will soon approach, many components of this industry are bound to be reinvented. For some, like Eichner, these changes are still not outlined, but for other figures closer to Miami, the path to follow is a bit clearer.


Miami then and Miami now


Dan Kodsi, the developer of Paramount Miami Worldcenter, is well aware of the new paradigm the city is facing. The first thing that comes to mind is the post-COVID-19 focus on health, for owners and investors as much as for everyday personnel. Is this really that much of a change in a world that was already going in that direction? Well, for Miami, it is indeed.

 

Renowned as one of the largest cosmopolitan destinations around the world, the city’s expression of its architecture is rather extravagant, luxurious, and even pompous, while its focal point regarding practicality is aimed to the shared spaces and community amenities. Right now, those aspects are being outshined (and might even seem risky) by the preservation of a global well-being, that only occurs in self-isolation. Like this, there are many new inputs for the real estate world in the post-coronavirus era, such as the use of materials, automation and virtuality.

 

 

A futuristic present

 

Maybe it is quite difficult to imagine a bigger virtual impact than the one we are already experiencing; however, it will be the main vehicle for the human connection we cannot do without. Moreover, not only the utilization of new, more sustainable materials, but their means of distribution are other major targets in the new upcoming reality. And finally, the key to the new real estate businesses and properties is based on principles of automation: a world with fully contactless systems. Things such as face and iris recognition might seem brought out of a futuristic movie; however, these technologies were already being implemented before the virus outbreak and were only enhanced by it.

 

 

COVID-19 has been only an example of how quickly we must be able to adapt to new circumstances. In a world that is changing in such an accelerated pace, it seems that the only way to stay on top of business is to embrace the only matter that is always constant: change itself. Here, at Miami Riches, we are prepared for it. 

 

Sources:

Taylor, P. (2020). Real Estate Will Never Be The Same Post Covid-19. Forbes. Retrieved from: https://www.forbes.com/sites/petertaylor/2020/04/23/real-estate-development-will-never-look-the-same-post-covid-19-realtors-and-architects-should-pay-attention/#49f77af96f2a

Thursday, April 2, 2020

Top 5 Tips to Carry Out a Safe Investment in Miami


The city of Miami has changed immensely in the past twenty years or so. Rather than being the predilect spot for the veterans and the retired, it has become one of the most glamorous and praised cities in the world. Nowadays, Miami is synonymous with urban architecture, design, and above all, culture. The city of sun has welcomed millions of immigrants, from Cubans, to Brazilians, Colombians, Venezuelans, Jamaicans, etc., who are part of the reasons why this city is so varied in tastes and colors*. Currently, the Miami International Airport (MIA) has direct connections to some of the largest destinations in the world, throughout the European and even the African continent.

 

All of this has turned Miami into one of the top investment opportunities, so whether you are an individual looking to protect your assets or a businessman who wants to take advantage of the many options this city has to offer, the reality is that the best time to invest is now. That’s why we have compiled a series of tips for you to start a successful journey in the real estate business in Miami.

 

1. Set your goals

This is the first step towards every successful investment, so ask yourself: what do I want to do? Is it buying a property for rent? Or fixing a property to increase its selling price? Is it investing in new constructions? It might even be owning a vacation home that can also be used for rent during the regular seasons, for example. There are plenty of options in this field, so in order to know how to proceed, you must know what you want to achieve.

 

2. Design a short-, mid- and long-term plan

Once you’ve set your goals, it’s time to start materializing them. As any investor, you must plan your moves, and this is highly intertwined with the previous tip. What is your projection one year from now? And five, ten years from now? Is it producing an extra income? Or recovering the total amount of your investment? This part will help you outline the route to achieve your goals.

 

3. Research

Nothing entails more confidence than a good research. Take the economical and geographic elements into consideration. The management figures (meaning your investment capital, state taxes, fees, etc.) and the operational system of the transactions will help you spot the options that are more profitable, also considering that Florida is one of the states in the U.S where rents are more common than home purchases. As for the locations, Miami is pretty versatile, and depending on your plan, some locations will be more suitable than others. For example, Coral Gables and Coconut Grove might be perfect for a large family; for newlyweds, Brickell and Downtown are the best options; while locations like Wynwood or the Miami Design District might be the dream choice for young entrepreneurs or artists.  It will all depend on your vision.

 

 

4. Build a contact network

Getting to know your local bank, or even the people that live in the neighborhood you’re interested in goes a long way. Establishing connections (and having a good credit score, by the way) will build trust for future loans if you come across a good deal. Moreover, asking for the opinion of locals will provide a unique insight into the market.

 

5. Contact professionals

Going through all the process on your own might seem overwhelming, so having professionals to help you offers nice reassurance. Certainly, you’ll need real estate lawyers, brokers, agents, with not only expertise in the field but with your best interest in mind, and here at Miami Riches that’s exactly what we’re aiming for. So, if you’re ready to embark on this journey, we’re more than prepared to be there with you.

 

Diving into the real estate world is simpler than it looks; just follow these few tips and, with our help, your way into Miami’s investment business is secured.

 

 

 

*According to the American Immigration Council, one in five Florida residents is an immigrant.

 


Monday, January 6, 2020

Prepare for January in Miami


Miami is well known for its warm, sunny year-round climate, but not even the sunny city can escape the winter. January is one of the coldest months of the year to visit Miami; temperatures range from 16 to 24 degrees Celsius (61-73ºF). There are few rainy days in January, which makes it a great month to travel.

If you are asking, is it possible to take a dip in the ocean in January in Miami? The answer is yes. If you choose a sunny day with little wind, there is no problem bathing in the ocean, but it is not recommended, because the temperatures are low.

But don't worry! Today, Miami Riches shows you the best options that the city of the sun has for you during January.

If your main objective is to visit the Disney theme parks in Orlando, the beginning of the year (January and February) is the ideal time. During the first two months of the year, the weather is quite good for outdoor activities, and the influx of tourists is lower. Since it is a low season, you will find lower prices and better deals.

In January, you'll also find the calendar full of exciting and interactive ways to experience Miami's most diverse and culturally diverse neighborhoods. Only in Miami you can explore a museum dedicated to the city's first black policemen, or take an ecological history tour of a semi-hidden beach, and eat ice cream inspired by the flavors of Cuba; you can find this and more at Miami Art and Heritage Months.

We can't forget the South Beach Jazz Festival, a music festival featuring talented artists in a unique format. At least one person in each performance has a disability. "The great talent of the artists will promote the festival's dual goal of entertaining and defining others by ability rather than disability. The festival is about uniting our community through the universal sound of music," explains his founder, David New.

This is a small sample of the options Miami brings you in this new year.


Friday, December 20, 2019

The best cities in Florida to invest in this 2020



Miami is considered one of the best cities in Florida to invest in. At Miami Riches, we show you the attractions and benefits of its different areas for you to discover where to invest in 2020.

The city of Miami is surrounded by several areas that show their style, ranging from the financial district to the district of the arts. This is our list of the 5 most popular districts to invest in the upcoming year:

Brickell
Located in downtown Miami, Brickell is South Florida's premier financial district. An urban neighborhood, adorned with luxurious buildings, offices, hotels, and a multicultural selection of cafes, restaurants, and clubs that make it the favorite place for locals, tourists, and entrepreneurs, as well as the residence of a large number of millennials.

Midtown
One of the fastest-growing areas in the city, Midtown is the perfect area for those who enjoy the balance between good living, fashion, and the arts. With its streets full of life, its surroundings breathe a cultural diversity that has enriched each of its spaces, which is why you can taste a variety of dishes and beverages, find any architectural style, trends in decoration, or simply witness their daily activities on the spot.

Wyndwood
Better known as the Wynwood Arts District, thanks to Tony Goldman, who saw the artistic potential of the area in its purest representation, graffiti. After years of exploration, in 2009, the still celebrated exhibition, Wynwood Walls, opened. Thus in 2016, Wynwood was proud to celebrate its second spring as a fashionable neighborhood of the city.

Downtown
Downtown Miami refers to the center of the city; it is one of the neighborhoods in Miami characterized by its high buildings and views of Biscayne Bay. Dazzling skyscrapers, business centers, conventions, and meeting centers with unsurpassed views of the sea make this place a jewel.

Edgewater
The Edgewater neighborhood is accompanied by its characteristic skyscrapers, modern buildings that are under development, and the strong artistic movement that is felt there by the proximity to Midtown Miami and Miami Design District. It is on the edge of the bay, which makes it an area of great interest to domestic and foreign investors who project into this neighborhood.

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