It’s better to buy a home VS rent in Miami since you get to enjoy the following:
- There is an excellent potential for appreciation
Buying a home in Miami offers excellent potential for the property to appreciate. It’s because the market is growing very fast, and the value of properties keep going up. Therefore, buying a house in Miami offers you better returns if you decide to sell your home. Miami has the best appreciation rates according to NeighbourhoodScout’s data, which shows that Miami’s appreciation rates are above average. It ranks among the top cities in America with an annual appreciation rate of 22.64%, which breaks down to about 2.05% per house on average. This is encouraging compared to the national housing market.
- Offers potential business and career opportunities
Every year, more companies and people move their businesses to Florida and especially in Miami. Houses for sale in Miami offer you accessibility to many international markets and a chance to enjoy a diverse workforce. Therefore, if you reside in Miami, you get an opportunity to expand your career and improve your lifestyle.
- There is increased cash flow to the state
Many people are investing in buying real estate in Miami and Florida in general. This means that more demand for services, and this is better for the state’s economy, and it increases cash flow.
- Houses are affordable
You can get great bargains in the Miami real estate market, and the many homes and condos for sale in Miami have competitive pricing. There is negotiable pricing, and banks are ready to finance hence making it easier for buyers to get affordable homes.
- Miami offers a desirable environment
Miami is ranked 9th among the top ten international luxury markets to own a home in the 2014 Christie’s International Real Estate Report. Therefore, it is one of the best places to own a home. Miami has stunning beaches and is home to international culture. This makes it a perfect city for people looking for a serene environment and a place with the best infrastructure. You can find great educational and medical institutions in Miami and all forms of entertainment. Compared to buy a home vs. rent a house in Miami, buying offers more benefits than renting in the long-term.