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How To Buy a Miami Condo

Posted by Find Miami Homes on September 11, 2017
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how to buy a miami condo

Finding the Miami Condo of your dreams can become a reality by sticking to the basics. In essence, you need to pick the location, set a budget, and hire a good realtor. Condo is short for condominium, and it represents a single unit part of a real estate building consisting of a number of such units separately owned with common areas under joint ownership. It’s basically an apartment building, but the new twist here are the more luxurious common parts and so called amenities. Specifically in terms of the Miami ¬†condos, these amenities usually are swimming pools, gyms, basketball courts, tennis courts, movie theaters, spa centers. Here, we address the steps that one has to go through in order to buy a condo in Miami.

Firstly, when you are on the lookout  for a Miami condo, you have to understand that the locals have a quite broad understanding of this term. See, Miami condo is not just a condo located specifically in the city of Miami. It could also refer to a unit located anywhere in the Miami-Date county area. The Miami-Date county is situated in the southeastern part of Florida as you can see highlighted in red on the map of the entire state:

miami condo county map

Location, Location, Location

The basics of buying a Miami condo are really not much different from the general steps one should go through when purchasing real estate. Firstly, you should narrow down the location you are interested in, because you can always upgrade a property, but you can’t change its location. You could be looking for a condo with ocean view that’s real close to the beach, or you may want to be in the heart of things and get something downtown. Figuring out the desired location is the first thing to do when looking to a buy a condo in Miami. That’s something that’s totally up to you, so we will move on the next phase.

Setting Your Budget

Budgeting is another crucial aspect in the process of buying the right Miami condo for you. Condos in Miami range tremendously in terms of their price tag and could go from a couple hundred thousands to several million dollars. Coming up with a number that you can afford to spend on such property will simplify the entire process for you by filtering a lot of listings that you can’t really afford. Keeping it real with your own financial abilities will save you a lot of nerves and time. The idea is that you will only be looking at a certain number of Miami condos that you can really buy. Otherwise, you could end up being overwhelmed by the huge number of available listings. It’s a slow market right now in Miami and there is more availability than demand. It’s a buyers market right now and that’s great news for you.

Find An Experienced Realtor

Once you have figured out the desired location and available budget, the final step is getting a realtor with on-field experience. You need someone that knows the Miami real estate market, as that will provide you with an invaluable asset in your mission to find the perfect Miami condo. Fernando Rodriguez is a real estate agent with ten years of experience in South Florida. You can find the full list of properties he can show you in the Miami are at fernandorodriguezproperties.com.

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