More first-time buyers eyeing Miami

Many renters are recognizing the fact that paying rent is doing nothing for their credit rating or for building equity. Like renting a car, when the term is up, you’re at the mercy of Uber or buses.

Investing in an apartment never seemed as much of a good idea as right now. It’s a buyer’s market and interest rates are still low enough to make purchasing a condo or house a smart move.

Population: 6,012,331 • Average days on market: 22 • Average gross yield: 8.8%

# of Building Permits in 2015: 23,450 • Employment Growth to Building Permits Ratio in 2015: 0.9%

Miami – the Magic City – is truly burgeoning in every way. There’s plenty of available condos and houses to choose from in every price point.

Young millennials can find the average price of $265,000 for houses to be affordable.  There’s only 5.2% unemployment, and 5 of the top Fortune 500 companies are based in Miami.

Some of the famous companies based in South Florida include:

Alcatel-Lucent (Miramar)

Amcor PET Packaging Latin America (Miramar)

American Airlines (Coral Gables)
APL (Miami)
Canon Latin America (Miami)
Caterpillar Americas Services (Miami)
Cisco Systems (Miami)
Baptist Health South
University of Miami
Jackson Health System
American Airlines
Florida International University
Broward Health
Nova Southeastern University
Next Era Energy
Miami Dade College
FS Residential
Wells Fargo
Miami Children’s Health System
Auto Nation
Mount Sinai Medical Center
When you’re ready to make the plunge, contact a responsible real estate agent to accompany you to explore the neighborhood you are interested in moving to. Nothing is more important than hiring someone who knows the lay of the land, which neighborhoods have the best schools, which are safe an which have the best access to major arteries on the road for commuting.

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