The Complete Miami Relocation Guide
Moving to Miami – The Most Functional Guide
When you are moving to Miami, you need a truly functional guide to help you with the most important matters. While most relocation guides focus on the best restaurants, nightclubs, sport schools etc, we concentrate on more essential matters. You might not know whether to buy or to rent, you might not know whether you should focus on a single-family house or a condo and you might not know the market prices in each neighborhood. When you come into the city and you want to buy you need to understand the numbers!!
This is exactly why we created this Miami Real Estate Relocation Guide. For those who are not familiar with our city, we show you the right from the wrong and the good deals from the bad deals while scrutinizing each and every neighborhood for you by means of statistics as well as with our day-to-day experience
Where to live in Miami?
Many people are looking to move to Miami but they just don’t know where to live. What is the best Miami neighborhood for you, depends on what you are looking for.
Relocating to Miami with a family / Relocating to Miami for schools.
In case you are looking for a single family home with good schools nearby you might want to look at areas such as Coral Gables, Coconut Grove, South Miami, Pinecrest (famous for the A-Rated Public schools) and Key Biscayne. These are high-end residential areas with great real estate options, centrally located near good schools and business centers.
An upscale city, known as being one of Miami’s most desired and safest residential areas. The area attracts many families and is home to great private schools. This area is predominantly a single-family home market. For waterfront properties or gated communities, this is the place to be.
Watch the Coral Gables neighborhood video
The Grove is one of Miami’s most exclusive areas. The area is known for being Miami’s safest neighborhood and therefore desired with families. Coconut Grove is a small village with lots of demand for its high-end real estate. The area is also home to many gated communities and waterfront properties. Although pre-dominantly a single-family home market, the Grove is also home to several ultra-luxury and brand new waterfront condos
Watch the Coconut Grove neighborhood movie
Located just south of Coral Gables, Pinecrest is one of Miami’s top 3 residential markets. The predominantly single-family home market is desired because of its spacious homes and lots. The area offers more SF for your Dollar compared to the Grove and Coral Gables. Another main attraction is the presence of A-Rated public schools.
Watch the Pinecrest neighborhood movie
South Miami is ideally located just North / West of Coral Gables and offers high-quality single-family homes for a lower dollar price per SF than the before-mentioned neighborhoods. As South Miami is located close to Pinecrest and Coral Gables, the area is desired with parents whose children attend schools in nearby areas.
Palmetto Bay is known for its large homes and residential lots, which trade for just a fraction of the prices that are asked in neighboring Pinecrest. The property taxes are also much lower than in other desired residential areas in Miami. Furthermore, Palmetto is home to a great amount of excellent private schools.
Miami Beach (We refer to the northern parts here, excluding South Beach) is often mistaken for a party destination. Many people don’t know that this area is great for family living. A considerable amount of properties are located in upscale and quiet, often gated communities. Miami Beach offers single-family homes and condos ranging from the $300K to multi-million dollar mansions in the sky
South Beach Incl South of Fifth
South Beach and South of Fifth are known for swanky condos and a fast lifestyle. Although this area is predominantly desired for its condos, some superb (waterfront and gated) single-family homes can be found on the Sunset Islands, The Venetian Islands and Hibiscus, Star and Palm Island.
An upscale island just off the coast of Brickell/Coconut Grove. High-end and exclusive are two words coming to mind when thinking of Key Biscayne. Homes are often waterfront and desired with boaters. The island is also in vogue with families, as it offers a superb public school. Key Biscayne offers a fair share of luxurious condos, albeit that there is just one brand new, ultra-luxury condo on the island.
Edgewater became a booming real estate destination after the last real estate crash. The area is now home to many brand new, waterfront condos. Edgewater is ideally located between the downtown area and the Arts and Design district. Although the area is not as developed as Brickell, the city is investing a lot of money into making this a new urban area.
Fisher Island is an ultra-private and exclusive island just south of South Beach. The area offers luxurious condos, a private school for residents, golf courses, two marinas and tennis courts and can only be accessed per boat, ferry or helicopter. Many of the properties are used as second or third residences
The Upper Eastside is a neighborhood located along the Biscayne Bay, just north of Edgewater. A lesser known area to outsiders, but within Miami known as a desired residential area. This Miami residential neighborhood offers many single-family homes from the beginning of the 1920’s and consists of different sub-neighborhoods, among which the gated Bay Point, Morningside and Belle Meade.
Bal Harbour is home to the famous Bal Harbour shops, St Regis Residences and the brand new Oceana Bal Harbour. Once one of Miami’s most luxurious destinations, the area has been overshadowed by other areas. The Bay Harbor Islands have started to develop since the last condo boom and offer many brand new (waterfront) boutique condos for a more attractive price than condos in neighboring Miami Beach.
Aventura real estate is mostly known for its many waterfront and upscale condos, which attracts a wide variety of residents from young professionals to families with children.
Many of Aventura’s condos feature on-site marinas including all kinds of services. Besides the condo’s very own marinas, the city of Aventura offers plenty of docking facilities for boat storage and maintenance services. Aventura’s condos are more affordable than condos in Sunny Isles beach or Miami Beach
Relocating to Miami for your job
The biggest business centers in Miami are located around Coral Gables and Brickell. In case you prefer condo living, areas such as Brickell, Downtown and Edgewater will be great to consider. In case you prefer single family homes, the areas of Coral Gables, Coconut Grove, South Miami or Key Biscayne will be your best option
Relocating as a young, (single) professional.
Young professionals without children might prefer to live in a condo in the heart of the action. If this is your case you might want to consider the Brickell or Downtown area (Miami’s new heart with many bars, restaurants and a brand new mall) or Edgewater (A newly developed area with many brand new waterfront condos close to Brickell but also close to the Arts and Fashion scene in the Design District and Wynwood). Relocating to Miami Beach will be a great option for those looking for that sizzling nightlife, swanky hotel lounges and a short walk to the beach.
Relocation Guides for some of Miami’s most desired neighborhoods
Our 2017 Miami Real Estate Report
For those who really want to get a good understanding of the Miami real estate market or its different neighborhoods, I recommend reading my 2017 Miami real estate guide. This real estate report stands out in so many ways! First of all the market is segmented in 18 sub-markets, which as logical as it sounds, is often ignored in other reports. The report also differentiates between different price ranges. Miami Beach homes perform different than Coconut Grove homes and the luxury market does not perform in the same way as the $500K market.
Instead of providing just for average market prices per SF, the 2017 Miami report also shows the average sales prices for the three most affordable and the three most costly properties. This provides the reader with a better understanding of Miami property values.
Finally, each chapter presents the narrative of a top producing realtor. Although numbers do not lie, they can be taken out of context. David Siddons provides feedback for each market based on his own personal day-to-day experience in order to makes sense of the numbers and to provide the reader with a more holistic overview of the market. Each section is concluded with very actionable advice for both sellers and buyers; What best to invest in, at what price point to buy or to sell and what market to be cautious with.
Buying vs Renting in Miami
The first question when moving to Miami is whether you should buy or rent and where. Our 2017 Miami real estate report covers 18 neighborhoods, which are further segmented into 5 different price ranges. This creates many niche markets, which cater to a specific group of buyers. The report shows whether we are bullish or bearish regarding the different sub-markets. With colors we indicate whether we believe you should be buying or selling in this market. A quick look at this table will give you a great idea of which markets are healthy to buy into and which markets are not recommended to buy into. In case your preferred market is not showing a bullish forecast, you might opt for renting until the market stabilizes. Of course we understand that markets are far too complex to be captured with a color. Therefore, this report provides you with a narrative explaining the market in further detail and providing you with a more holistic view of that area.
A Miami Home vs a Miami Condo
Many of my buyers ask me what better to invest in; a home or a condo. Besides personal preferences this is a very interesting topic. The Miami home market performs in a completely different manner than the Miami condo market. In our report you can see how these two perform and what we expect for the future. You can also pick up the phone (+1.305.508.0899) and ask me your questions directly.
The Top 10 Miami Condos
We provide our clients and readers with a top 10 of Miami best condos as well as a top 10 of condos per neighborhood. The condos are ranked based on location, price per SF, views, age, maintenance costs, and quality of finishes. As the supply and management of condos changes we are constantly updating these top 10s and adding new criteria to make our top 10 as accurate as possible.
Click on the link to see the top 10 Miami condos in 2018
Important Information regarding buying vs renting
Many people coming to Miami are contemplating the financial impact of renting vs buying. For these we created a few articles to help you determine at which point owning in Miami becomes a better deal than renting. We also provide you with an article regarding the facts and calculations of Renting vs Buying Real Estate in Miami.
In case you have decided to buy, our article on “A better return on investment: Miami Condos Vs Miami Homes might be extremely helpful as well