Types of Miami Homes
Just as in most of the beautiful state of Florida, there are many different types of Miami homes. The hot city of Miami offers waterfront properties, condominiums and lofts, new construction and pre construction, villas, and your basic single family homes. Below is a description of these properties and some general price ranges.
Waterfront Properties
Miami offers many different communities that have waterfront residential areas available. This is aided by the amazing amount of water found around Miami. Condos have sprouted on the Atlantic, the Intracoastal Waterway, Biscayne Bay, and many other larger bodies of water. These properties are often more expensive and more luxurious than other types of Miami homes. Water brings more value to the property; thus, they are more expensive.
Condominiums and Miami Lofts
Miami offers condominiums and lofts for every different type of buyer. Some of these are waterfront; others are less expensively tucked away a few blocks away. There are relatively affordable ones, starting at $65,000. Then, there are the ultra expensive, ultra luxurious condominiums that run up to $15,000,000. Of course there are those that lie in between these two ranges.
New Construction and Pre-Construction
There are actually two different types of Miami homes when it comes to new constrution. These include new construction and pre-construction. What’s the difference?
New constructions are basically new homes that have never been owned before and are offered to home buyers for purchase. Often, home owners enjoy these homes because they can determine many of the materials used. You can pick out your flooring, paint color, faucets, light fixtures etc.
Pre-construction is often popular among investors. Very raw sites are often purchased by an investor at a much smaller rate, long before ground is ever broken on the project. The investor can pick the materials, and then resell the condo to a buyer.
Single Family Homes
Single family homes in Miami can be extremely expensive. There is simply no denying that. While the average Miami resident only makes $40,000 a year, most Miami single family homes sell for $260,000. That is much over thirty percent of individuals’ incomes. This is not a statistic that is based on closeness to water, simply a presentation of the numbers.
Finding the Right Miami Home for You
There is a home for everyone in Miami, from the luxurious, extravagant and expensive, to moderately price condos and single family units. Regardless of your interests, there are types of Miami homes that will fulfill your residential needs!