Miami Real Estate Learning Center

2022 THE NEW BUYING HOME STRATEGY!



2022 NEW HOME BUYING STRATEGY?

Since the pandemic, the new way for Millenials to buy houses is to purchase vacation homes instead of buying a primary residence. Millennials are once again ahead of time with this new trend they have going on. Can you believe this very population is currently accounting for 40% of vacation homebuyers?

We know it, owning a home truly is part of the American dream. However, becoming a homeowner can come in different ways. Young buyers are redefining the scenery, and taking advantage of the remote work situation they are in.

In fact, the flexibility that allows remote work has been a game-changer. What if the only necessary criteria were to be in the same time zone as your office? What would stop you from buying away from work when proximity isn't a factor anymore?

In today's market, approaching homeownership from another point of view can be transformative, especially for the young population living in major cities of the US.

Sale prices are picking up since last year, and it surely is a smart move to build wealth and have a property to escape to whenever you need it. If the investment is too large to buy in a big city like New York City right now, investing it where they can afford it will secure equity throughout the years. The wealth created, built over time thanks to real estate investment isn't negligible, and buying a vacation property now whilst renting out is cost-effective. To conclude it's fair to say young homebuyers are handling their finances savvly, and are taking advantage of the historically low-interest rates wisely in order to build equity whilst staying in their rentals.

DISCOVER THE STANDARD- MIDTOWN MIAMI

Midtown has it all! Located in between Downtown and the Miami Design District, the new trendy neighborhood of Miami has a lot to offer. The Standard Midtown promises to be the new ultimate Miami summer must-hit spot for an entire community. Fashionistas and art enthusiasts will be happy to discover this walkable area created exactly in the middle of it all. The most famous gyms, shops, and restaurants will delight visitors and locals. Some of the biggest grocery shopping spots opened nearby to facilitate the day-to-day life of the Midtown residents. Heaps of green spaces compensate for the urban style the neighborhood presents. This brand new construction provides:

➔Studios : 432sqft to 535sqft

➔1-Bedroom: 689sqft to 1126sqft

➔1 Bedroom+ Den: 966sqft to 1131sqft

âž” 2-Bedroom units: 831sqft to 1118sqft

The flexible rental program allows the landlord to rent out their unit with a 30-day minimum stay, 12 times per year. The payment structure for prospective buyers:

• 10% at Reservation (Immediately)

• 10% at Contract (est. March 2022)

• 10% at Groundbreaking (est. Summer 2022)

• 10% Six Months After Groundbreaking (est. Winter 2022/23)

• 10% at Top Off (est. 2023)

• 50% at Closing (est Q4, 2023)

Prices from 400,000 to $1,000,000 If you want more info click here The Standard.

MIAMI BEACH FIRST TIME HOMEBUYERS?

What if your dream could become a reality?

Have you ever heard about the First-Time Homebuyer Program? If you are eligible, this program can change your life and give you access to homeownership sooner than you thought. . The city of Miami Beach went all the way to help its residents become owners. In order to assist the purchase of a home in the unincorporated areas of the County, The First Time Homebuyer Loan Program provides low-interest rate mortgage loans to eligible homebuyers.

The two biggest restrictions the city of Miami determined are:

➥ the maximum sales price of the home to be at a maximum of $318,000.

➥ staying in the property for a minimum of 15 years without renting, selling, or refinancing.

➥ the participant will be responsible for paying at least 3% of the down payment.

➥ Income limit to get into this program.

The prospective applicants can directly look at the application process on the Miami Beach city website.



2022 FEBRUARY EVENT CALENDAR

Miami is thriving this month with an infinite list of events happening throughout the city. My selection is nonexhaustive, but here are some of the most interesting events happening within the next few weeks!

THE COCONUT GROVE ART FESTIVAL [FEB 19-21]

South Florida's premier art festival is presenting a selection of diverse event mixes of photography, sculpture, painting, and digital art. Tickets are $20 and up.

MIAMI INTERNATIONAL BOAT SHOW [FEB 16-20]

Miami is bringing to the city the largest boat and yachting event in the world.

WICKED THE MUSICAL [FEB 15th]

The famous musical is touring across America, they will perform at the Adrienne Arsht Center for only a few dates, don't miss it out!

SWAN LAKE [FEB 11-27]

The greatest of Tchaikovsky, and my favorite ballet is taking over the Miami City Ballet.

THE SUPERBOWL LVI 2022 [FEB 13TH]

The biggest sports event of the year is returning to California, but plenty of places in Miami will broadcast the event on giant screens!

For the foodies, my monthly recommendation is below:

âž” Bagatelle: The brand new location at the Ritz-Carlton gathers some of the most talented chefs, and is bringing French Mediterranean Cuisine and the glam of the French Riviera to the beach.

âž” Sushi Fly Chicken: don't be fooled by the takeout look the storefront has! Behind the counter, enter the hidden restaurant, Tokyo-inspired, serving wonderful Southern Thai and Korean style dishes.



DEAL OF THE MONTH: MARINA BLUE #3001

DEAL OF THE MONTH: MARINA BLUE #3001 Price: $670,000

2 beds /2 baths

Oustanding amenities

Bay views & Downtown Skyline

1,315sqft

Maintenance fees: $912/Monthly