RENTING vs. BUYING
As a renter we wanted to share relevant information on the South Florida Real Estate market and how 2017 is shaping up to be “The Year of the Buyer.” In case you were considering buying and wondering if now is the right time, you were right, it is! We hope you find the below market stats as enticing as we do.
Home Reduction Highlights by Price Point
Historically Low Interest Rates
You may be able to find a home with a monthly payment comparable to your current rent payment!
*Estimated monthly payment of $477 per $100,000 borrowed
There is an abundance of opportunities for buyers in the South Florida market today whether you’re looking for urban, beachfront or equestrian properties, with a high supply of inventory South Florida has something to offer everyone.
According to data from Keeping Current Matters buying a home is 37.7% cheaper than renting over the long term in the U.S. and when you narrow the scope to Miami metro, the potential savings jumps to 53.2% cheaper to buy than to rent.
Miami: America’s City of the Future
We believe that an investment in Miami is an investment in the future. Miami is one of the youngest major cities in North America and the potential for growth is nearly unlimited. Savvy investors from around the world have recognized South Florida as a highly-attractive and under-valued target for real estate investment. With strong population growth, steady economic growth, and immigration attracting global wealth and talent, Miami’s future outlook has never been better.
- Florida surpassed New York as the 3rd most populous state in the nation with more than 20 million residents. The Miami metro alone represents more than 25% of the states population and is growing by more than 70,000 net new residents each year.
- Florida’s economic growth out-paces that of the United States as a whole and is expected to become a $1 trillion economy by 2018.
- Investment and growth in international trade, financial services, technology, and other sectors will continue to propel the South Florida economy, continuing its role as a magnet for immigration and talent.
- Miami is home to more than 1,400 multinational headquarters and 77 foreign consulates.
- Miami is the 2nd largest hub of international banking in the U.S., dubbed “the Financial District of Latin America.”