Both neighborhoods are terrific in their own ways, but they have very different characters. It's clearly a personal decision as to which area is "best". Coral Gables is picturesque and prestigious, and the single family homes in most Miami Beach neighborhoods, especially South Beach, are beautifully located and in high demand. Having lived in both areas, I personally prefer being North of downtown (I find the traffic to be overbearing South of downtown), and enjoy being close to the beaches, even just to view them while out and about. There are excellent private and public school options close to both areas, if that's of concern. From purely an investment perspective, my vote is cast for the SoBe island neighborhoods (Hibiscus/Palm and Venetian)... heavy demand and limited supply. You can still find a very luxurious home for under $5M, and all of Miami is moments away.
I am happy to assist you, if you aren't already working with a buyer's agent who is not looking out for a seller client's position, but has as top priority pursuing and protecting your interests.
Keller Williams Miami Beach
Miami Beach, especially the area south of 41st Street, is very much a live and let live community which is rich in its diversity both economically and culturally. It feels a lot like a small town whereas the Gables is a bit more formal and a little less cohesive. South Beach is very close to downtown and the airport whereas the Gables is not quite so convenient. Neighborhoods on South Beach differ - Palm, Hibiscus and Star are very different from the Venetians, which are very different from Bay Road or Pinetree. So you have to decide what kind of a life you want to live and which culture is more appealing to you. Both areas have positives for someone looking to relocate. For me, that neighborhood feel was important, so I chose South Beach and live on Palm Island where we have a lovely public park with tennis courts, a playground and handball courts - I needed to be close to the airport and to I 95 for work and it has been a perfect choice for me. People walk their dogs every night, neighbors know one another, and kids can still ride their bikes in the street. We have retirees, younger families, singles and celebrities. That was important to me, to have that diversity.
I have experience on both areas. Coral Gables is more family oriented than Miami Beach. On the other hand Miami Beach is closer to Ocean and there are more activities in Miami Beach area.
Coral Gables has better schools, and less crime rates comparing to Miami Beach.
Annual Crime rate per 1K in Coral Gables 2.12
Annual Crime rate per 1K in Miami Beach 9.97
There are some safe neighbourhood close to Miami Beach like Bal Harbour. Please contact me at 954.3056424 or firstname.lastname@example.org for more information.
Both areas has the pros and cons. You should look at both so see which one you offer you what fits you better, what gives you more for your money and you feel more comfortable with...
Call me Renata Santos . Prudential Florida realty. 305.528-7366 http://www.renatasantosrealty.com
I think you should just call the agent that you feel like who will have your best interest at hand, and whom will serve you the best.
Kellr Williams Realty Partners SW
There are many factors to consider when purchasing a home. However, with such a broad price range, there is going to be a big variance in the type of home you look at that is on the market for $1M - $5M. Depending on your style of living, there are going to many different options for you in both the Coral Gables market area as well as Miami Beach.
Feel free to contact me and I will be more than glad to answer any and all questions you may have. Have a great day.
D & I International Realty
Looking to buy a house between $1M and $5M is like looking to buy a car that would cost between $10,000 and $50,000.
Can you think of a few ways a $10,000 car may be different to a $50,000 car?
Similarly, there are likely to be great differences between a $1M house and a $5M house.
In the end, once you sat and drove the $50,000 car, do you believe (assuming money is no objection), you will end up with the $10,000 car or is it possible you will be lured by the added luxury of the $50,000 car? Perhaps. It will all depend on a number of factors ranging to your perception of owning a used car, a type of brand and whether you need to impress yourself or anyone else while driving it.
Similarly, after you've walked through a $1M house and then a $5M house, do you think there may be some perceived and real differences perhaps to include the area, the size, the amenities, its features, it's quality, and again, even the way you feel as you see yourself living in one vs the other and the impression that makes in your and your friend's psyche? Will you and/or they be impressed more with one vs the other?
Again, that will also depend on many factors, including the cost to keep up with one vs the other, and whether your discretionary funds used to purchase one vs the other is more or less depleted.
What else would you do with $4M or will you just want the $5M house after all?
These and other questions should be explored during your consultation. Don't be shy. True experts like myself will gladly sit with you and help you sort it all out.
Who knows, in the end, you may end up really indulging your well deserved self - guilt-free.
As answered by some of my fellow realtors, the price range does appear to be a broad range which can make a big difference in what is available. Depending on your preferences both Coral Gables and the beach have many possibilities. Depending on the features and amenities you want in a home that too will factor in. My suggestion would be to find a Realtor that you can work with and discuss in detail what you are looking for in a home and the agent can assist in going through the information and help with the pros and cons of each area. Good luck with your search. If you have any additional questions please feel to contact me.
(305) 772- 2521
For that price range, you really great options:
If you chose Miami Beach,, the area South of Fifth street has become one of Miami Beach's most high end area if you're looking to purchase a condo.
If you're thinking about purchasing a house, Palm Island and Hibiscus Island have beautiful homes on the water.
Sunset Islands and Bay Road also have amazing houses for sale.
And Finally, Bay Road, which have gorgeous homes as well.
I am located in Miami Beach, feel free to call me if you would like to see any properties for sale.
I look forward to hearing from you soon.
ENGEL & VÃ–LKERS
Real Estate Agent
Cell: +1 305 206 8867
Fax: +1 305 443 2226
Both locations are very good in their own style.
If you have a minute and want to communicate direct with me, please do so as there are several factors to discuss.
CLHMS - BPO
305 205 4214 cell
Fax 1 866 213 5785
Beachfront Realty Inc.
517 Arthur Godfrey Rd
Miami Beach is a great place to live with wonderfull magnet and private schools nearby. I have some great luxury homes listed if you're interested in viewing. Would also be happy to work with you.
Tara West Luxury Properties
Keller Williams Realty Partners SW