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Advantages of Buying a Miami Condo in 2015

If you are considering buying a condo in Miami, the year 2015 could possibly be one of the most favorable years as compared to recent times. Not only are there many prime locations you could choose from but most condo complexes have a range of amenities that make them very attractive for homeowners. Choose the area that is most convenient to you so that your workplace, kids’ schools and other necessary locations are within accessible distance. You could also draw up a list of amenities that you feel are most important to you and choose your Miami condo accordingly.

Another very favorable factor is the sharp decrease in mortgage rates in the past few months. It will interest you to know that beginning in January 2015, mortgage rates are a fourth of a point lower than the average rates in the last two weeks of December 2014. Further, should you need to look to take out a loan to buy a condo in Miami, it could cost you .375 percent lower than the top rates in December of last year. These prices could possibly be the best since the month of May in 2013. Plus lenders are starting to be more flexible again with their lending policies and practices.

Do keep in mind though that all lenders may not follow this drop in rates and you might need to scout around for real estate agents that can assist you with referring you to lenders so you can get the best rates out there. Contact us at www.miami.condos and we can advise you on your best options in Miami. We can help you get pre-approved by a reputable lender so we are ready to put in an offer on the property you choose.

In addition to a wide range of options to choose from Miami pre-construction condos, another advantage is the large inventory of resales available still at lower prices than the height of the market approximately eight years ago. These resales are the optimal choice for investors looking to gain immediate rental income. Rental rates are at their highest with so much demand in popular areas such as Downtown Miami, Brickell, Edgewater, Midtown and the Beaches. The climbing rental rates are very attractive for investors looking to make a healthy return. Resales are also ideal for owner occupants looking to move in in the very near future. With rental rates continuing to increase year after year, renters are seeing the advantage in owning versus renting and are more focused in purchasing from the resales available immediately.

Given these great advantages, there should be no stopping you from looking for a condo in Miami in the year 2015. For more information and assistance with purchasing a Miami condo in your preferred location, do contact us at Miami Condos or 786-393-0481. 

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  • Melissa J Shapiro, PA , Broker Associate
  • BMore Group, LLC
  • C 786.393.0481
  • 48 E. Flagler St. #PH105 Miami, FL, 33131
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