If you ask a person in South Beach about their opinions about buying a property or renting one, most of the time you will hear the same answer over and over: buying is better. Yes, it costs more money and you might not be able to afford it as of yet, but the truth is that renting a property or a condo will most likely make you more bankrupt in the long run due to countless mortgage increase and tax.
What most people fail to understand when it comes to renting is the fact that you will never have an opportunity to actually call your place “home” because the minute you missed your payment, the landlords will either lock up your unit, or you’ll be sued in court. We fail to see the benefits of having our own property like having no curfews, hosting parties and most importantly, saving money on taxes. In South Beach alone, more than 60% are homeowners whether condominium properties or deluxe houses, and 40% are stuck at paying rent and increased taxes.
South Beach alone has a lot of real estate properties up for grabs. Most of the properties are condos that are a lot better than its neighborhood counterparts. If you own a condo or a house in Miami Beach, chances are you are saving up to 128% on taxes and mortgage fees. Not to mention the money saved on not setting aside some of your salary for monthly rent.
There are certain payment plans for people aspiring to own a property someday. Several real estate developers set up payment plans ranging from rent-to-own schemes, to annual payment options. Most of these properties are luxurious condominiums overlooking the beautiful Atlantic Ocean. The key to having a nice South Beach condo without the pressure of paying much taxes and mortgages is to know more about the said payment options stated earlier; if you plan ahead, save up and think practical, you will get to own your very own property.
Whether you are looking for a second home or decent beach property, Miami Beach is the right place for you. Not only do they offer quality sceneries, and great people, but they also have lots of amenities that are great for you, your loved ones, or even your whole family! As of 2011, there are literally hundreds of available South Beach condos up for grabs handled by several real estate developers. Try to check the rates they offer so that you will be a few steps ahead from achieving a great life.