Home Buying in Miami>Question Details

Colin Murray, Home Buyer in Stamford, CT

Is it a better long term investment to buy a condo in Miami Beach or Aventura ?

Asked by Colin Murray, Stamford, CT Thu Mar 6, 2008

looking at a residence and a long term investment here, 7-10 years minimum. Would a condo in Miami Beach be a better bet than one in Aventura? I have many options in my price range in both locations and both areas are very different. I can buy bigger in Aventura for the same money, but both locations have plenty big enough (3brs, 2bth) Any advice welcomed.

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I would say buy a condo in Miami Beach. Everyone knows South Beach or Miami Beach but who knows Aventura. Try to buy close to Lincoln Mall, which is a fun outside mall where something is always happening.
Web Reference: http://www.pammayers.com
0 votes Thank Flag Link Fri Mar 7, 2008
Colin- As Kevin mentioned, Miami Beach is the place to be. Yes, you can get more for your money in Aventura, but life is different on the other side of the bridge. Make sure to choose an oceanfront or bayfront building... location is key for any investment.

Good luck!
0 votes Thank Flag Link Fri Mar 7, 2008
Colin-
Miami Beach, hands down. In a wobbly real estate market, and in even in a good one for that matter, location always wins, hands down.

Next thing you'd have to consider is your lifestyle and what is important to you. If you ask yourself those questions and factor in some practical real estate fundamentals, the answer will reveal itself to you.
0 votes Thank Flag Link Thu Mar 6, 2008
Colin - you question is very general and the answer depends in many factors. Everyone knows that sand under your feet cannot be beat, so always keep that in mind. But with that same thought, Aventura is also HOT. I was having a conversation with a customer today that owns 3 condos in Aventura and he could not explain what it was that he liked so much.
To make a choice, think of the individual building, its location and amenities. I personally think that if you can hold the property for 7 to 10 years, you can't go wrong with your decision.
0 votes Thank Flag Link Thu Mar 6, 2008
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