The Perks of Buying over Renting

  Thinking about buying a home? While today’s mortgage rates might seem a bit intimidating, here are two solid reasons why, if you’re ready and able, it could still be a smart move to get your own place.   1. Home Values Typically Go Up Over Time There’s been some confusion over the past year or so about which way home prices are headed. Make no mistake, nationally they’re still going up. In fact, over the long-term, home prices almost always go up (see graph below):   Using data from the Federal Reserve (the Fed), you can see the overall trend is home prices have climbed steadily for the past 60 years. There was an exception during the 2008 housing crash when prices didn’t follow the normal pattern, but generally, home values kept rising. This is a big reason why buying a home can be better than renting. As prices go up and you pay down your mortgage, you build equity. Over time, this growing equity can really increase your net worth. The Urban Institute says: "Homeownership is critical for wealth building and financial stability.” 2. Rent Keeps Rising in the Long Run Here’s another reason you may want to think about buying a home instead of renting – rent just keeps going up over the years. Sure, it might be cheaper to rent right now in some areas, but every time you renew your lease or sign a new one, you’re likely to feel the squeeze of your rent getting higher. According to data from iProperty Management, rent has been going up pretty consistently for the last 60 years, too (see graph below): So how do you escape the cycle of rising rents? Buying a home with a fixed-rate mortgage helps you stabilize your housing costs and say goodbye to those annoying rent increases. That kind of stability is a big deal. Your housing payments are like an investment, and you’ve got a decision to make. Do you want to invest in yourself or keep paying your landlord? When you own your home, you’re investing in your own future. And even when renting is cheaper, that money you pay every month is gone for good. As Dr. Jessica Lautz, Deputy Chief Economist and VP of Research at the National Association of Realtors (NAR), says: “If a homebuyer is financially stable, able to manage monthly mortgage costs and can handle the associated household maintenance expenses, then it makes sense to purchase a home.”   Bottom Line If you're tired of your rent going up and want to explore the many benefits of homeownership, talk to a local real estate agent to explore your options.

Miami Condos That Allow Airbnb

If you’re looking for a Miami condo that you can Airbnb or rent out on a short-term rental basis for additional investment income, or to give yourself a vacation home that you can rent out when you are not vacationing in Miami, then read on. This blog is a comprehensive list of Miami Beach and Miami condo buildings that allow Airbnb and short-term rentals.   — Why Airbnb Your Condo in Miami?  Airbnb rental property investments are a hot topic all around the U.S., but it’s even more relevant in Miami and Miami Beach for several reasons. First, given the constant growth of the Miami area, many see Airbnb condo investments as a way to participate in real estate investing in Miami by creating cash flow while holding onto a property that is likely to continue increasing in value. It also allows you to have a beautiful Miami vacation home. Second, a 2023 report by the Chamber of Commerce substantiates investor beliefs as Miami ranks as the #10 city in the U.S. with the most expensive Airbnb rents. Miami daily rentals in Airbnb commanded the 10th highest average daily rate of $290 per day of all the large cities in the U.S. Smaller pockets such as Miami Beach averaged $426 per day, Key Biscayne was even higher at $571 per day. And neighboring Fort Lauderdale also proves a ripe city for Airbnb investment condos, averaging a daily rate of $297, even higher than Miami’s average daily rate. Moreover, Miami is the city with the most Airbnb short-term rental listings per 100,000 people (according to the same report). All of these signs indicate that business is booming with huge long-term potential for the vacation rental market in Miami. Last but not least, given Miami’s rich cultural diversity, high-quality restaurants, plentitude of outdoor activities and nightlife, and year-round warm weather, everyone wants to have a pied-a-terre here. Buying into an Airbnb-approved condo building that allows daily or short-term rentals allows you to subsidize your amazing Miami lifestyle. You get the best of all worlds: enjoy Miami and Miami Beach when you want, and make an income when you are away. —Miami Airbnb-Approved Condo Buildings Here is a list of most of the Miami-area condo buildings that allow some form of short-term rentals. It’s still important to verify with the condo association whether daily rentals like Airbnb are allowed per the condo docs. There are occasions in which the management may be allowing Airbnb rentals at the moment even though the building is not officially approved for daily rentals. Do your due diligence, or contact us to help you with your condo search or to help verify any Miami condo’s rules and regulations. CONDO NAME NEIGHBORHOOD PRICES RENTAL POLICY 2080 Hallandale Hallandale Beach $700,000 - $​820,000 Monthly, Seasonal 1 Hotel & Homes South Beach $2,400,000 - $​8,999,995 Daily, only hotel program ABAE (1215 on West) South Beach $360,000 - $​532,000 Daily, only hotel program Akoya Mid Beach $695,000 - $​2,936,000 Monthly, Seasonal Aventura Beach Club / Marco Polo Residences Sunny Isles Beach $175,000 - $​349,999 Daily Barbizon Beach Club South Beach Contact us Daily Bayshore Yacht & Tennis Club North Bay Village $215,000 - $​275,000 Daily Beachclub II Hallandale Beach $650,000 - $​3,000,000 Monthly, Seasonal Beachwalk Hallandale Beach $486,700 - $​995,000 No restrictions Bel Aire on the Ocean North Beach $950,000 - $​995,000 Monthly, Seasonal Bentley Beach Hilton South Beach $780,000 - $​1,300,000 Daily Brickell House Brickell $489,000 - $​15,000,000 Monthly, Seasonal Carillon Resort and Condo (Center Tower) North Beach $495,000 - $​1,825,000 Daily Carlyle Deco Hotel South Beach $700,000 - $​1,500,000 Daily Casablanca North Beach $249,000 - $​1,725,000 Daily Castle Beach Club Mid-Beach $269,000 - $​2,500,000 No restrictions Congress Hotel - Strand Condo South Beach $379,000 - $720,000 No restrictions Conrad Mayfield Brickell $579,999 - $​980,000 Daily Costa Hollywood Hollywood $325,000 - $​2,500,000 No restrictions Edition Miami Beach South Beach $3,300,000+ Monthly Emilia Edgewater Edgewater $249,000 - $​620,000 Daily, no restrictions Empire Condo South Beach Contact us Daily Faena Hotel Residences Mid-Beach Contact us Daily Fortune House Brickell $348,999 - $​525,000 Daily Fountainebleau Mid Beach $866,000 - $​2,895,000 Daily Four Seasons Residences Brickell Brickell $795,000 - $​16,900,000 Daily Gale Residences Fort Lauderdale Beach $500,000 - 1,300,000 No restrictions Grand Bay Ritz Carlton Key Biscayne $490,000 - 1,800,000 Monthly, Seasonal Harborview Fisher Island Contact us Daily Hyde Beach House Hollywood $640,000 - $​1,575,000 No restrictions Hyde Resort & Residences Hollywood $552,999 - $​2,250,000 No restrictions Icon Brickell III (W Miami) Brickell $590,000 - $​1,489,000 No restrictions King David Sunny Isles Beach $700,000 - $​787,000 Monthly, Seasonal La Perla Sunny Isles Beach $729,900 - $​1,625,000 Monthly, Seasonal Le Cartier Sunny Isles Beach $449,900 - $​524,000 7 days M Resort Residences Sunny Isles Beach $384,900 - $1,050,000 Daily Marenas Beach Resort Sunny Isles Beach $625,000 - $​1,100,000 Daily Marina Village Fisher Island Contact us Daily Midblock Midtown $565,000 - $​1,150,000 Daily Mondrian South Beach $310,500 - $​3,495,000 Daily Mutiny Park Coconut Grove $440,000 - $799,000 Daily Natiivo Downtown Miami Contact us Daily Ocean Manor Fort Lauderdale $879,000 - $​899,000 Daily (condo-hotel) Ocean Place South Beach $1,925,000 - $​2,199,000 Weekly Ocean Point Beach Club Sunny Isles Beach $489,900 - $​1,250,000 Daily if in hotel program, or if not in hotel program, then 3 months (6 months max), 3 times a year Ocean Reserve Sunny Isles Beach $495,000 - $​785,000 Daily if unit registered for short term rentals Ocean Villas Mid-Beach Contact us Daily Oleta House North Miami Beach $250,000 - $1,500,000 Daily Opera Tower Edgewater $219,000 - $​625,000 30 day minimum, 12 times a year Q Club (Hilton) Fort Lauderdale $254,000 - $​1,200,000 Daily (condo-hotel) Quadro Design District $650,000 - $​1,200,000 Daily Ritz-Carlton Coconut Grove Coconut Grove $1,595,000 - $​4,990,000 Monthly, Seasonal Roney Palace South Beach $575,000 - $​3,500,000 Monthly, Seasonal Royal South Beach South Beach Contact us Daily Setai South Beach $2,375,000 - $​4,850,000 Daily Shelbourne South Beach $375,000 - $1,200,000 Daily SLS Brickell Brickell $420,000 - $​5,900,000 Daily for condo-hotel units Sole Sunny Isles Beach $380,000 - $​820,000 Daily (condo-hotel) The Bogart South Beach Contact us Daily The Club at Brickell Bay Brickell $450,000 - $​1,650,000 Daily The Elser Hotel and Residences Downtown Miami $730,000 - $​1,819,333 No rental restrictions The Flamingo South Beach $300,000 - $​750,000 Monthly, Seasonal The Grand Edgewater $395,000 - $​1,700,000 30 day minimum, 12 times a year The Mercury South Beach $329,000 - $​419,000 Daily The Mutiny Coconut Grove $479,000 - $​1,550,000 Daily The Neville South Beach $449,000- 510,000 Daily The Sail on Brickell Brickell $379,999 - $​570,000 Monthly, Seasonal Tower 41 Mid Beach $365,000 - $​3,500,000 Daily Trump International Sunny Isles Beach $280,000 - $​1,999,000 Daily W Residences Fort Lauderdale Fort Lauderdale Beach $680,000 - $​2,100,000 Daily W Hotel South Beach South Beach $1,195,000 - $​15,500,000 Daily Yacht Club at Aventura Aventura $530,000 - $​699,000 Daily YotelPad Downtown Miami $435,000 - $​609,500 Daily Z Ocean Hotel South Beach $350,000 - $4,900,000 No restrictions Prices are based on market at the time of publishing.  — Miami Pre-construction Condos that Allow Airbnb These new condo buildings in development in Miami and Miami Beach will allow short-term rentals. Contact us or subscribe above to stay up-to-date on all preconstruction developments in Miami. CONDO NAME NEIGHBORHOOD PRICES RENTAL POLICY COMPLETION Domus FLATS Brickell Center Brickell Contact Us Daily  2027 Domus Brickell Park Brickell Contact us Daily (only on Hosteeva) or monthly, owners can stay no longer than 6 months at a time 2025 Lofty Brickell Brickell Contact Us Daily, no restrictions 2025 One Twenty Brickell Brickell Contact Us Daily, no restrictions 2028 ORA by Casa Tua Brickell Contact us Short-term rental flexibility 2026 Smart Brickell Brickell Contact us Daily, but only 24 times a year 2024 Smart Brickell II Brickell Contact us Daily, but only 24 times a year 2025 Smart Brickell III Brickell Contact us Daily, but only 24 times a year 2025 Sonder Brickell Brickell Contact us Daily 2026 Viceroy Brickell Brickell Contact us Daily 2026 Visions at Brickell Station Brickell Contact us No restrictions 2025 Cassia Miami Coral Gables Contact us Daily, no restrictions 2026 The Avenue Coral Gables Coral Gables Contact us Daily 2025 501 First Downtown Miami Contact us Daily 2024 600 Miami Worldcenter Downtown Miami Contact us Daily, no restrictions 2025 District 225 Downtown Miami Contact us Daily 2024 E11even Beyond Downtown Miami Contact Us 30-day minimum 2025 E11even Hotel & Residences Downtown Miami Contact us Daily 2024 HUB Miami Residences Downtown Miami Contact us Daily 2027 Legacy Hotel and Residences Downtown Miami $400,000  and up Daily 2025 Okan Tower Downtown Miami Contact us Daily 2026 One W12 Residences Downtown Miami Contact us Daily, no restrictions 2027 The Crosby Downtown Miami Contact us Daily, no restrictions 2025 Waldorf Astoria Downtown Miami Contact us Daily 2025 West Eleventh Residences Downtown Miami Contact us Daily 2025 Aria Reserve Edgewater Contact us 30 days, 4 times per year 2025 Edge House Miami Edgewater Contact Us Daily 2028 Elle Residences Edgewater Contact us Daily 2028 Vida Residences Edgewater Contact us Flexible rentals + FlexShare Program 2025 River District 14 Miami River Contact us Daily, no restrictions 2025 The Standard Residences Midtown Contact us 30-day minimum, 12 times per year 2025 72 Park North Beach $700,000 and up Daily, no restrictions 2025 72 & Carlyle North Beach Contact us Daily, no restrictions 2025 Ella Miami Beach North Beach  Contact us Daily, no restrictions 2026 Palma Miami Beach Residences North Beach Contact us Daily, no restrictions 2026 Nexo Residences North Miami Beach Contact us No restrictions 2025 Casa Wyn Wynwood Contact us No restrictions 2025 NoMad Residences Wynwood Contact us No restrictions 2025 The Rider Wynwood Contact us Daily 2026 — Can You Airbnb a Condo? The short answer is, yes, you can buy a condo and Airbnb it for daily rentals or rent it out on a short-term basis. But you need to understand a few key points, starting with whether the condo building allows short-term rentals or not. And second, if the neighborhood or municipality allows short-term rentals. For example, some parts of South Beach do not allow short-term rentals or Airbnb. Most of mainland Miami allows Airbnb and short-term rentals. The last thing you want to do is to buy the perfect condo but then realize it doesn’t officially allow Airbnb rentals or short-term rentals, even though some other owners are doing it.  The good news is that many new buildings understand buyers want this option and are incorporating short-term rental plans into their building rules. Most pre-construction condo buildings in Miami are already Airbnb-approved, so you can get your investment to work from day one. Also, working with a real estate professional who knows which buildings offer complete short-term rental options, or knows how to pull up the condo short-term rental rules of the building from the condo docs and condo rules and regulations is key. — Quick Tips on How to Airbnb a Condo in Miami  Pro-Tip #1: Understand the Financing Rules Condo buildings that allow Airbnb or short-term rentals (meaning daily or weekly rentals) have different financing rules than conventional, residential-only condos. Financing for condos that allow 30-day or longer rentals is more conventional, while condos that allow daily rentals can require different types of financing. Pro-Tip #2: Consider a Condo-Hotel Condo-Hotels can be a great option to invest in for Airbnb rentals since they have flexible rental rules and already have management focused on clients renting for the short term. But condo-hotels require special financing rules, too, and often have their own rules if you want to manage your condo-hotel unit through Airbnb instead of the hotel’s management program.  Pro-Tip #3: Consider Buying a Pre-Construction or New Construction Condo With the recent growth of Miami and continued interest in its highly desirable real estate market, many developers are now building new condo buildings allowing Airbnb and short-term rentals as part of the amenities of the building.  Buying during the pre-construction phase often has the advantage of early-bird pricing and getting your pick of the best units. You can view our article on the latest new and preconstruction condos in Miami allowing Airbnb and short-term rentals if you are interested in buying into a new condo development project. If you’d like more help to start searching for the right condo investment for you, call or email us anytime.

Questions You May Have About Selling Your House

There’s no denying mortgage rates are having a big impact on today’s housing market. And that may leave you with some questions about whether it still makes sense to sell your house and make a move. Here are three of the top questions you may be asking – and the data that helps answer them. 1. Should I Wait To Sell? If you’re thinking about waiting to sell until after mortgage rates come down, here’s what you need to know. So are a ton of other people. And while mortgage rates are still forecasted to come down later this year, if you wait for that to happen, you may be dealing with a lot more competition as other buyers and sellers jump back in too. As Bright MLS says: “Even a modest drop in rates will bring both more buyers and more sellers into the market.” That means if you wait it out, you’ll have to deal with things like prices rising faster and more multiple-offer scenarios when you buy your next home. 2. Are Buyers Still Out There? But that doesn’t mean no one is moving right now. While some people are holding off, there are still plenty of buyers active today. And here’s the data to prove it. The ShowingTime Showing Index is a measure of how frequently buyers are touring homes. The graph below uses that index to show buyer activity for March (the latest data available) over the past seven years: You can see demand has dipped some since the ‘unicorn’ years (shown in pink). That’s in response to a lot of market factors, like higher mortgage rates, rising prices, and limited inventory. But, to understand today’s demand, you have to compare where we are now with the last normal years in the market (2018-2019) – not the abnormal ‘unicorn’ years.  When you focus on just the blue bars, you can get an idea of how 2024 stacks up. And that gives you a whole new perspective. Nationally, demand is still high compared to the last normal years in the housing market (2018-2019). And that means there’s still a market for your house to sell. 3. Can I Afford To Buy My Next Home? And if you’re worried about how you’ll afford your next move with today’s rates and prices, consider this: you probably have more equity in your current home than you realize. Homeowners have gained record amounts of equity over the past few years. And that equity can make a big difference when you buy your next home. You may even have enough to be an all-cash buyer and avoid taking out a mortgage altogether. As Jessica Lautz, Deputy Chief Economist at the National Association of Realtors (NAR), says: “ . . . those who have earned housing equity through home price appreciation are the current winners in today’s housing market. One-third of recent home buyers did not finance their home purchase last month—the highest share in a decade. For these buyers, interest rates may be less influential in their purchase decisions.” Bottom Line If you’ve had these three questions on your mind and they’ve been holding you back from selling, hopefully, it helps to have this information now. A recent survey from Realtor.com found more than 85% of potential sellers have been considering selling for over a year. That means there are a number of sellers like you who are on the fence. But that same survey also talked to sellers who recently decided to take the plunge and list. And 79% of those recent sellers wish they’d sold sooner. If you want to talk more about any of these questions or need more information, contact a real estate agent.

The Most Luxurious Condo Buildings in Sunny Isles Beach

Sunny Isles Beach is known as Miami’s luxury branded condo corridor, and not without reason. When you read the news about the best new Miami condo developments, you’ll find the biggest names in global luxury offering residences here. Brands such as Porsche, Bentley, Armani, St. Regis, and the Ritz-Carlton are some of the exclusive houses inviting you to inhabit their world on this stunning stretch of beachfront lots along the famed Collins Avenue. Very few other locations in Miami will give you oceanfront living like this in new, residential-only towers offering international quality services and five-star hotel amenities. So, if you’re considering Sunny Isles Beach and the kind of opulence such brands bring to the neighborhood, stay tuned for our ranking of the five most luxurious condo buildings in Sunny Isles Beach.   Why Choose Sunny Isles Beach? Sunny Isles Beach’s pristine white-sand shoreline and casual, family-oriented vibe have always made it a top choice for those looking for exclusive living away from the city core. Its resort-style properties make it the ultimate luxe place, even by Miami cost of living standards, which could seem expensive but it really aren’t considering what you get when you buy here. It has a tight community of like-minded, ex-pats from all over the world, whether as second homeowners or permanent residents. This makes it a cultural melting pot where you’ll find notable Eastern European and Latin American influences since the majority of the Sunny Isles’ population comes from one of these two backgrounds.  If you enjoy the outdoors, there are plenty of options like the Newport Fishing Pier to drop a line for fishing, the Haulover Beach Park for water sports and boating, and the Oleta River State Park for kayaking and biking.  Further, with world-class shopping close by at the Shops at Bal Harbour or over the bridge at Aventura Mall, and the fun and frolic of Miami Beach just 35 minutes away, it’s no wonder this stretch of Collins Avenue is one of the most desirable addresses in town.  Now, here are the top five buildings where you can find the best Sunny Isles Beach condos for sale: The Best Condos in Sunny Isles Beach 5. Regalia – 19575 Collins Avenue Average List Price: $2,2702 per square foot This award-winning, 45-story building takes limited-edition living seriously. The oceanfront development houses 39, full-floor residences with 360-degree wrap-around terraces for ultimate exclusivity and luxury. Read that again: there is only one residence per floor! Designed by Bernardo Fort-Brescia of Arquitectonica, its neo-classical interiors are styled by the world-renowned South African interior designer Charles Allem, an Architectural Digest’s AD 100 staple. Amenities at Regalia include a club room, a temperature-controlled wine cellar for each residence, a children’s playhouse, world-class spa treatments, an ocean-view pool deck with cabanas, beachside services, and more. 4. Jade Signature – 16901 Collins Avenue Average List Price: $2,296 per square foot   Following in the successful footsteps of Jade Ocean and Jade Beach, Jade Signature takes forth the legacy. A spectacular waterfront complex born of the architectural genius of critically acclaimed Herzog & de Meuron, Jade Signature stands 55 floors, with 224 luxury units. Interiors are by the acclaimed Pierre Yves Rochon, best known for his award-winning interior environments for the luxury hospitality segment. Amenities at this luxurious residence include a lap pool and another one for fun and leisure, a luxurious spa and gym, a well-appointed business center, a large meeting room, a library, a two-story lobby with circular grand staircases, lounges, club rooms, a beach grill, a breakfast room, a children’s room, and much more.  3. Chateau Beach Residences – 17475 Collins Avenue Average List Price: $2,412 per square foot   Developed by the famous Argentinian Chateau Group, this 33-story, 84-unit tower is styled to exude timeless elegance. Echoing the undulating waves outdoors, the high-rise features curvy, contemporary architecture by Miami’s own Kobi Karp.  Every residence at the Chateau Beach condominium offers breathtaking views of the city and the Atlantic Ocean. They also come with contemporary interiors equipped with open gourmet kitchens, 10-foot-high ceilings, and glass-railed balconies to accentuate the sense of space.  With over 22,000 sq. ft. of indoor-outdoor common spaces, residents are treated to a whole range of white-glove services and amenities, including a resort-style rooftop pool deck, an expansive ballroom, a luxury spa, a wine lounge, a cigar bar, a relaxation deck, and much more. 2. Turnberry Ocean Club Residences –18501 Collins Avenue Average List Price: $2,691 per square foot   From the makers of one of the most iconic hotel renovations in South Florida, the Fontainebleau, this ultra-luxe glass tower rises 54 stories with 154 contemporary residences on a gorgeous white-sand beach. Designed by Carlos Zapata and Robert Swedroe, each sophisticated, glass-encased residence is structured to capture breathtaking sunrise and sunset views. With 70,000 square feet of amenities spread over six floors, residents have access to an expansive Sky Club featuring signature sunrise and sunset vanishing swimming pools, two hydrotherapy spas, an ocean-view bar and lounge, a dedicated beauty suite, a revitalization spa, an open-air fitness terrace, an outdoor pet retreat, and much more. Better still, residents get exclusive off-site access to the Turnberry Isle Country Club, Turnberry Marina, and priority access to Fontainebleau Aviation at the Opa-Locka Executive Airport. And the Winner of the Best Condo in Sunny Isles Beach Is… 1. The Estates at Acqualina – 17885-17901 Collins Avenue Average List Price: $3,287 per square foot This recently completed two-tower estate sits on 502 linear feet of pristine private oceanfront and is where you’ll likely find one of the best condos in Sunny Isles for sale. Tower Acqualina 777 rises 50 stories and features a maximum of two luxury condos per floor totaling 91 residences. Tower Acqualina 888 also rises 50 stories but features a maximum of four residences per floor, totaling 173 luxury condos. Sharing the Five Diamond Award-winning Acqualina legacy, both towers come equipped with forward-thinking amenities and lobbies styled by fashion design icon, Karl Lagerfeld.  Between the two estate-like towers, residents are offered more than 50,000 sq. ft. of unparalleled amenities. Among them a Wall Street Trader’s club room, an ice skating rink, a Formula One simulator, bowling lanes, a basketball court, a movie theater, a two-story speakeasy, and a golf simulator. The private, 5.6-acre oceanfront “backyard” is home to multiple pools and cabanas, sculpture gardens, a soccer field, basketball and bocce courts, a FlowRider wave simulator, a romantic beachfront restaurant, and bar plus much more. — The Best-Located Condo in Sunny Isles Beach   Jade Signature is our top choice for the best-located condo in Sunny Isles Beach. Not only does it have direct beach access and unobstructed ocean views, but it’s also across the street from the RK Centers mall with its mix of established brands, daily conveniences, and restaurants. Are you interested in learning more about Sunny Isles Beach and what it’s like to live in one of its luxury towers? Or do you have a condo you wish to sell? Call or message us for a private showing of the best condos in Sunny Isles for sale or for a free valuation of your property! We’ll be happy to help you