by Isaac Benmergui, Esq on May 17, 2013
Starting off by renting is fine, as long as you buy after two years, says a recent finding by Zillow.com. In a study of first-quarter buying versus renting for this year, the numbers show that the tri-counties of Palm Beach, Broward and Miami-Dade had one of the country’s shortest break-even time periods where a renter could save more money by becoming a homeowner.
Real estate agents are urging renters to act now if they are considering homeownership because prices are going up and renting is getting more expensive.
In some parts of South Florida, you won’t even have to wait a full two years before buying becomes cheaper renting than renting: in Deefield Beach, it takes only 1.7 years and in Lake Worth, only 1.5.
If you want to know how long it takes for buying to surpass renting in your area, Zillow.com has a handy location evaluator -- click here.
Getting Legal Help
The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.
by Isaac Benmergui, Esq on May 16, 2013
The pristine beaches, luxury shopping and exciting nightlife has made the Miami real estate market grow by over 50 percent in the past year. The city remains a top destination for vacations and investors wanting to bask in the warm Florida sunshine for many years to come. For the home buyer, Miami offers both the high-end and low-profile lifestyle.
For the past year, luxury properties have boomed in Miami and the city has a reputation as one of the best markets in the world for luxury real estate whether you’re an individual or investor. Miami is an affordable city showing continued growth and quick recovery from the market collapse.
A large part of the market has been fueled by Latin Americans who feel at home in the bilingual city, and in the past two years, American properties have become very attractive to foreign buyers. In the past year, Miami’s luxury market has grown by over 50 percent in home purchases by the local residents and nearly 50 percent came from foreign buyers. More than 2,000 homes have been built and sold for over a million dollars in the past few years.
Getting Legal Help
The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.
Starting off by renting is fine, as long as you buy after two years, says a recent finding by Zillow.com. In a study of first-quarter buying versus renting for this year, the numbers show that the tri-counties of Palm Beach, Broward and Miami-Dade had one of the country’s shortest break-even time periods where a renter could save more money by becoming a homeowner.
