Affordable Luxury Condos
First, let’s define what we mean by affordable luxury condos. It seems like an oxymoron to put affordable and luxury in the same sentence. But it’s certainly not that far off from your own point of view about condos in Miami.
Affordable luxury condos will have the following:
Central cooling and heating throughout the building
Laundry facilities (whether or not within your condo)
Dishwasher in the kitchen
On-site fitness center
Pet-friendly condo policy
Pleasant view of the city or nature
While there are certainly loads of condos for sale which fit into this category, finding affordable condos with these conditions can be somewhat challenging. Of course, there are great deals to be found every day if you keep your eyes and ears open. And with the help of a proactive Miami realtor, you might be in the luxury condo of your dreams before you know it.
Look for seasonal owners
Some people moved down here thinking the weather would be the cure-all for what ails them. In fact, it’s just too hot for many. They prefer the moderate temperatures of the Carolinas. That is an opportunity for you! This suggestion, along with many others here require that you love to gossip and search out dissatisfied residents of luxury condos in the clubs and cafes of Miami Beach. You can bet there are people all over who are looking to move. Cash in hand, you can own your dream condo!
Look for areas undergoing gentrification
According to Miami New Times, there are 6 stages of gentrification. The best chance for you to find a luxury condo in Miami is at the earliest stages of the process. This is called the pawn stage of gentrification. Seek out an area with smaller nightclubs, bars and most importantly, younger underpaid creative types! If you get there before the developers move in, you will have purchased a luxury condo at excellent prices.
Read about corporate bankruptcies
Yes, you read right. Look around for large employers laying off their middle management. They will need to sell out fast to get their finances in check. Mortgages can be expensive when you are unemployed. Be on the lookout in the financial headlines.
Look outside the hot areas
Of course, you want to live off Alton or Collins, that’s where the celebs hang out after dark. The flashy cars, the flashy babes are all there making moves. But the truth is, South Florida has some incredible luxury condos for sale throughout the tri-county area. Consider Ft. Lauderdale condos, North Miami condos, even Delray Beach has some amazing affordable luxury condos for sale. Don’t be too stubborn about the location and you’ll come up aces!
Pay attention to friends and family who need to move
This goes along with being a gossip monger. Some people are just better at collecting current personal events than others. The help of a good realtor will certainly turn things in your favor but also it’s a good idea to pay attention to family gatherings and house parties. There’s gold in those rambling conversations with Uncle Mike and Auntie Betty. Don’t miss a chance to get in before the bidding wars start.
As you can see, there are several ways to get an affordable luxury condo than just paying full price. Markets are efficient most of the time but occasionally you’ll be in the right place at the right time. It’s best if you keep a little capital tucked away for a rainy day so when the opportunity presents itself, you can grab the luxury condo of your dreams.