What to consider when investing in Miami condos. There is a huge variety of Condos in Brickell
3. Maintenance Costs
4. Location and Views
and Downtown and the best deals are often
Please refer to page 10 and 11 to see the
Miami has always been about water views.
found not by generalizing a choice of one
current maintenance fees for any of the
As the city develops so these prices hold a
Condo over another, but in the specifics of
Brickell and Downtown Condos. Maintenance
premium but also weather economic change
a single unit. My role is to assist clients in
is calculated on a per sq.ft. basis.
much better than city view units.
looking for specific unit opportunities and to search for anomalies in the market that give light to potentially excellent deals or risky investments.
and spotting these anomalies is essential in choosing a wise investment.
1. Price per sq.ft Price per sq.ft. is of course of key importance. Buyers should be aware of the average price per sq.ft. not just in their neighborhood but in specific buildings. The chart on page 10 and 11 shows the average price per sqft for all buildings in Downtown and Brickell.
Bristol Towers is a good example of a building in excellent financial health. Unit 3302 is currently for sale for $1,749,000.
2. Financial stability Based on income levels and reserves held within a Condominium. This will affect changes in future maintenance costs and if reserves held are too low this can result
Carbonell Condo 2706 , 4/4.5, currently for sale for $1.8 million, has one of the lowest maintenance fees in Brickell. This is due to its strong and establlished financial situation.
in building assessments. Please call me for
All units at Paramount bay enjoys direct bay views where owners can enjoy the city lights of Miami beach and water views. Unit 1409 of Paramount is currently for sale for $699,000.
the 2012 financial summary reports for any specific Condo in Brickell or Downtown that
5. Amenities, Facilities and Services
you may be interested in.
Spaâ€™s, state of art gyms, large lap pools, concierge,
attractive to owners and renters alike and make such buildings a top choice. However, high levels of amenities can also mean higher maintenance fees as the running costs of the building are usually higher. Unique and Boutique style features such as private elevators
Icon Brickell saw substancial increase in value from 2011-2012. This is inpart due to its enormous popularity with renters, and prices were still considered cheap in 2011 in comparison to other similar Condos.
can also help Condos appreciate well. In the same way â€˜overly genericâ€™ units and Condos can be far more vulnerable to market change Icon Brickell has the largest pool in North America! Epic is home to Zuma and 2 other award winning restaurants. Both have higher than average maintenance fees, but in return offer an exceptional level of services and facilities.
INVESTORS GUIDE 2013
as there are hundreds of choices to potential buyers in the future.
DAVID SIDDONS GROUP, EWM REALTY INTERNATIONAL
Published on Apr 9, 2013
A complete investors guide to buying real estate in Brickell and Downtown Miami. A look back on changes December 2011- December 2012