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April 25, 2008, Newsletter Issue #155: Miami Home Vs. Miami Neighborhood
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Tip of the Week
When you develop your Miami real estate buying plan, you should already have a strong idea of what you can and can't live without. Some people will take a "hit" on the neighborhood to have a larger home, while others will live in a smaller or less opulent home to get into the neighborhood they've always wanted.
Neither choice is the "right" one - it all depends on your needs and lifestyle.
One thing to consider is that you can always change your home - add on, rebuild or renovate - but their isn't much one person can do about a neighborhood or community. In many cases, you'll be able to figure out if a neighborhood is "up and coming" or "going downhill" or is just stable. If you are using a Realtor, this is the kind of information they will have on hand. You can discover this too by keeping up on local news and developments in the neighborhoods you are considering.
A great Miami real estate tip: Try to buy the ugliest house in the best neighborhood. In a couple of years you'll have enough equity to overhaul your home and you'll be secure in your happy community.
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