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.

TV, Millennials and Housing: what do these things have in common?

It doesn’t matter which media, you’ve heard about Millennials: that generation born between the late 80s and mid-90s. While they are commonly known by their eccentricities, this generation is now following the steps of Gen X and becoming the next to make smart investments.

It’s well-known that Millennials have been inspired by Pop Culture to make their housing and lifestyle decisions. This doesn’t mean a bad thing; it means they have an idea of what they want and how they want it. The downside of this is the market itself: Millennials are the generation with the biggest market limitations due to housing prices.

Housing has always been a high topic no matter what generation you belong to. For Gen X, they have the highest level of debt, according to the Transamerica Center for Retirement Studies. Since the early 2000s, US housing interests have lowered, which at that time meant they took all the opportunities and had cheap loans.

So, no one told you life was gonna be this way

This generation was greatly inspired by the famous Friends apartment, which would cost around $4,500 monthly to rent in real life. Moved by this, Gen X thought that by taking loans, they could find places like Monica and Rachel’s apartment by sacrificing some things.

 This is where everything started

In the long run, some people from this generation regret that impulsive shopping. Some regret not being more aggressive pushing for the property they wanted, with the amenities they were looking for, for slightly less money.

Let’s talk about Girls

Millennials are far more observant that we give them credit for. After watching how the 2008 Housing Crisis affected the general economy, this generation accepted that having some amenities would come with more planning. For instance, Millennials usually don’t buy but rent first, start to build their finances first, pay some debts, and then, they decide if they want to move out or buy.

The series that showed a realistic side of this was Girls, where twentysomethings were trying to have a life in the city of New York. This representation of how youth tries to get by each day under the housing situation is possibly the most accurate one.

Millennials have to do more than just move to more affordable places; they usually don’t buy more than they need. They plan their living without taking more debt in.

How Miami Riches is here to help

For us, working towards a future is a priority, but we also help you manage your property according to your budget. We look for the best places in Miami where you can invest wisely and without much sacrifice, always looking for your comfort.

Contact us and we’ll give you all the information you need to start investing!