Home Buying in 33126>Question Details

Lorena Villa, Home Buyer in Miami, FL

Is a condo in 82nd ave. and NW 8th St. a good deal?

Asked by Lorena Villa, Miami, FL Thu Oct 11, 2007

hello, my friend is thinking in buying a two-bed, two-bath condo. She lives in another city, but this would be consider her primary residence b/c is her first home. She is thinking on renting it, but she is undecided because she a friend of her who is a realtor told her that the prices will go lower, and she might not rent it. The condo in 195K, great condition and good space. should she buy?
The location of the apt. is 82nd Ave and NW 8th St. She was to keep it for 3 years or so, and sell it.

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0 votes Thank Flag Link Wed May 9, 2012
Creo que el tiempo le dio la razon a la amiga que es realtor.Ojala para esa fecha 2007 que escribistes esto, tu amiga le haya echo caso.
0 votes Thank Flag Link Tue May 8, 2012
Buying is great you own the property and someone else is not getting rich off of you. But, depending on area and aminities condos dont appreciate like a house would (unless condos are the norm for the area) your property value may go down over time, way that with the fact that as she pays off her loan not only will she owe less in the long run, rent wont be going up, she will gain a tax benifit from habing a homesteaded property. I say buy it if she is happy living there.
0 votes Thank Flag Link Fri Jan 22, 2010
Is it a 2 bedroom, 1 bedroom? What is the square footage? How about amenities, and maintenance fees?
No one can answer your question without knowing the answer to all those questions. I can tell you this much..you are near Doral, and the airport, so that is pretty good as far as location is concerned. Once you have all that, contact me, and I'll be happy to do a market analysis for you and tell you if it is a good buy or not.
If it is for investment, tell your friend that she should be ready to keep for MINIMUM 3 years..I would say 5 to be safe.
0 votes Thank Flag Link Thu Oct 11, 2007
Well, ask the realtor friend to pull up comparables to show to her. At the given time, I would suggest to buy for keep sake, not investment. Since she will be using it as a primary residence, it might be good. But again, make sure that the realtor friend pulls comparables of units that have sold in the building within the last six months. That shoudl give her a pretty good idea of the going market.
Best of luck.
Web Reference: http://www.hagenhendrix.com
0 votes Thank Flag Link Thu Oct 11, 2007
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