Relocating from New York to Miami

Moving from New York to Miami – Tips and Interesting Facts

The Best Miami Neighborhoods for Families

The David Siddons Group has successfully managed hundreds of family relocations, especially as the pandemic spurred a wave of families from across the U.S. moving to Miami.  Through these conversations, we quickly identified the ideal neighborhoods, often with almost 100% accuracy in just a 30-minute call.  If you are moving with a family you are most likely looking at:

Comparing Miami to NYC Neighborhoods

Off-Market Listings

Savvy home and condo buyers no longer settle for what’s left on the MLS. Off-market properties often provide better value and exclusivity compared to MLS listings. While everyone hears stories of incredible deals, they rarely come from browsing Zillow or Trulia. Off-market properties, known as real estate unicorns, are highly sought after and rarely found—but we excel in finding them.

Our success stems from strong relationships and market connections built over 15 years in South Florida real estate. Ranked No. 15 in the nation by the WSJ, we’re often the first to hear about unique opportunities through top producers and our network—deals that never make it to the public market.

We add value with detailed reports, articles, and expert insights, earning the trust of clients, agents, and developers. In new construction, our “super broker” status grants us direct access to exclusive inventory. Additionally, we work closely with builders, architects, and developers to bring clients early-stage opportunities, many of which sell before ever hitting the market.

For new homes, we work closely with builders and developers, and thanks to my wife’s custom home business, Design Solutions, we have early access to top-tier projects and exclusive inventory.

Why Work with Us?

Schedule Time with David Siddons (via Zoom/Call or in Person)

Equal Lifestyle, Lower Costs of Living

Just like New York, Miami is an exciting city that never sleeps and belongs to the world’s top 10 luxury markets. But unlike New York, Miami’s costs of living is fairly low for being one of the most important markets for HNWI’s. Real Estate in New York is about twice as expensive as in Miami. The average prices per SF for a luxury property in NYC is $1,860, while Miami’s average price is $750.

Miami now offers many ultra high-end luxury condos that cater to the most distinguished buyers. These luxury condos are mansions in the sky with 5 star amenities and superb (ocean) views. For those moving from NYC to Miami with a family, our city offers luxurious single family homes often located in waterfront and gated communities that are less than a 15 minutes drive from Miami International Airport and Miami’s main business and finance centers. For the price of a NYC 2 bedroom apartment you can have a luxurious home in Miami that allows you to be everywhere within half an hour; your job, the airport or the Beach.

Average Luxury Home Prices (Per Square Foot) $1 million-plus-home sales, 2015

Relocating to Miami from NYC also provides for major tax breaks

Florida is among the US’ top 10 best business tax climates. Miami does not have any: capital gain taxes, state income taxes, or estate taxes. This means that working and owning real estate in Miami offers you with a relatively higher return on investment than NYC. These tax advantages are one of the main reasons why New Yorkers move south.

Let put this in an example:

A hedge fund manager reporting $1M in income can expect to pay only the federal government, whereas his counterparts living in New York City and Connecticut will fork over an extra $104,300 and $67,000 respectively.

In Miami Today News one of the City’s brokers (Mr Morr) is quoted saying: “If you earned $1 million in New York and paid 12% combined state and city income taxes, that’s $120,000. If you’re able to homestead in Miami and not pay those taxes, that would buy you a $1.5 million house. How? The cost of finance a $1.5 million house with taxes, insurance and mortgages is about $10,000 per month or $120,000 a year“. The above equals a free house, you could live in a Miami $1.5M house with the money you saved by leaving New York.

Miami is now a World Class City

Miami has been known as a touristic city that offered just beaches and nightlife. Today, Miami is a world class city with something to offer to everyone. From a thriving business center and being the second largest financial hub in the USA, to an ever increasing Arts and Culture Scene. For more information please refer to the Moving to Miami Guide, Section: “Is moving to Miami a good idea?”.

Moving to Miami, a more relaxed lifestyle under the sun

Besides all the above mentioned aspects, Miami also offers a more relaxed lifestyle. The way of life is easy going and people are not always in a rush. Miami rarely experiences heavy traffic leading to a very limited commute time and an easier start and end of your working day. Miami equals less stress and more time to enjoy and to spend with family and / or friends on the boat, the beach or any other form of entertainment you might prefer.

Schedule Time with David Siddons (via Zoom/Call or in Person)