The Real Estate business is all about people. The
market is mainly driven by what people want and don’t want in a given period of
time, which means that if you know how to read what most people want, you could
even predict some trends with just enough time to quickly get in and make a
good deal, whether you are an investor or simply someone searching for a new
home. In this article, we are going to tell you about this 2018’s trends in the Real Estate business so you can start
planning ahead or finally making your move!
Trends can be spotted anywhere, but, particularly in
Florida, they are a little bit easier to see thanks to the high volume of
investors, information, new developments, and projects. Miami is filled with
new buildings, and this 2018 its unique skyline will definitely get denser. The trend for these new developments is
quite easy to recognize: small units, attractive amenities, and great locations
near hotspots in town. This type of building has been the most common for
the past decade in this corner of America, and Millennials are the first ones
to drive this particular trend.
This is
going to be an important year for many reasons; one of them is the fact that
90’s kids aren’t kids anymore. There’s an important number of Millennials now in
their 20’s – 30’s, and they have a huge weight on how the market is going to
turn out this year. Despite what many might think, these millions of Americans seem to be
motivated to buy their first home before reaching their 30’s instead of
renting, and that’s because of the increase in their income and their positive
career development.
This generation will be able to take on bigger loans,
and this 2018 they are expected to be 43% of home buyers to take out mortgages.
Our recommendation for them is to buy as soon as possible this year because it
will only get harder and more expensive through the rest of this 2018.
Since South Florida
is one of the hottest vacation spots in the world, short-term rentals are now
trending like never before. Investors are searching for opportunities in neighborhoods where people
might want to rent for a month or two (even less than a month) during the summer,
winter break, or spring break, and make a decent profit out of it.
Prices are
expected to increase this 2018, but since crowdfunding is becoming a very
popular option, it
won’t matter for those trying to diversify their investments. That’s why people
are moving from sole ownership to fractional investments. It’s quickly becoming
an easier way to get in a passive investment, and this is affecting the market
positively.
Whether you are buying your first home or you are an
experienced investor, Miami Riches will
assist you in everything you need. Buying, selling or renting a home on your
own can be difficult, and it’s extremely easy to make a
mistake. Contact us anytime!
Photo credit: Flickr
