Questions about moving to MIA/FLL (Miami, Fort Lauderdale: to rent, condo, crime)

[Corrie22]

Originally Posted by elchevere

Forget about moving to Miami if looking to buy a condo for $250K, let alone a decent one in a nice neighborhood not 40 years old.

I thought the recertifications only applied to buildings over 3 stories tall.....isn't that right??

https://www.miamidade.gov/global/eco...ification.page

[SanyBelle]

Originally Posted by Corrie22

I thought the recertifications only applied to buildings over 3 stories tall.....isn't that right??

https://www.miamidade.gov/global/eco...ification.page

From this link, it appears to be 3 stories and taller:

The new state law, which went into effect on May 26, 2022, created new requirements for milestone inspections of condominium and cooperative association buildings that are three stories and taller.

[Corrie22]

then there's a ton of 1 BR apts/condos for sale on the beach in buildings 3 stories and less....that are under $300,000

https://www.zillow.com/homes/for_sal...oom%22%3A15%7D

[WRnative]

Read through the climate change, hurricane, and insurance threads in the general Florida forum before making the decision to buy, especially near the coast.


https://www.city-data.com/forum/flori...surance-8.html


See post 125 in this thread:



https://www.city-data.com/forum/flor...lorida-13.html



Read John Englander's "Moving to Higher Ground."


https://movingtohigherground.com/


Spender Glendon, former head of research at major investment firm Wellington Management and now a senior fellow at Wellwood Climate Research Center, is one of the top experts on the financial impacts of climate change.


https://www.wlrn.org/show/the-florid...impacts-worsen


Glendon is brilliant, and his seasonal essays here are well worth reading, especially the one last linked for someone considering a real estate purchase in a Florida coastal community.


https://probablefutures.org/equinox-solstice-letters/



https://mailchi.mp/probablefutures/m...eetings-032022


Consider that it's unprecedented that two major hurricanes (Michael in 2018 and Ian in 2022), both the result of "rapid intensification" as a result of warming oceans around Florida, have made landfall in Florida within the last five years. This reality hasn't escaped the attention of insurers and reinsurers.

[MiamiLIFE]

Originally Posted by Americki San

Greetings,

Me and my wife (30 years old, and no kids) are thinking about moving to United States from Europe, and if we could pick our favorite area where we would like to move, it would definitely be Miami or Fort Lauderadle area.

We have already visited 4 times in the past 10 years as tourists, in total we have spent about 2 months in Miami Beach, Miami Downtown, Hollywood and Fort Lauderdale, so we are familiar with the area. All of these places we enjoyed, each had it's own pluses and minuses but we would consider any of them.

However, I am aware that it's one thing to experience as a tourist and one thing to actually live there So I would really like to ask a few questions that experienced locals could answer.

1) CRIME: I have seen these maps on the forum:

Miami Dade Map Map: https://www.google.com/maps/d/u/0/vi...491289941&z=11

Broward County Crime Map: https://www.google.com/maps/d/u/0/vi...225415039&z=11

Would you say that anything outside of the green area would be considered very dangerous to live in?

Or some of you guys live in the blue/yellow areas and don't have problems?

We live in a very safe country where you can walk at 3 am at night and nothing will ever happen to you. To be honest, nothing has happened to us during our trips in Miami/FLL either, we just used common sense.

2) FLOODS, HURRICANES, REAL ESTATE

We would prefer to live in an apartment instead of a house. Are there any areas where apartment buildings have experienced more problems than usual related to floods, hurricanes, or any other problems that we might not be aware of.

Pretty much is there any advice how we should check if some building had history of problems, in case we find some apartment in it on Zillow that we like, to not make an expensive mistake.

3) BUDGET TO BUY APARTMENT

We would love to live in an apartment that is not more than 15 minutes far from the Beach.

Based on the prices on Zillow it seems that for $250.000 we could find some decent condo ( 500 sqft) even in Miami Beach and there are even bellow 200k options in Hallandale for example.

I see some of them have pools and gyms which would be very convenient if possible.

Do these prices seem real or there are some catches with these apartments?

4) BANK

For apartment that is of value of $300.000 let's say, what would be the most default downpayment that we are supposed to pay in a bank in order to buy?

We would probably have savings of about $100.000 to bring with us.

From what I have heard the banks in the US normally doesn't ask for such a big downpayment, but would we get the better deal in case we give more upfront?

The option that we have enough cash to buy the whole apartment without loan seems hard at this moment, but as we have some real estate in home country that we could additionally sell, perhaps we would even manage something.

I can't speak too much to Ft. Lauderdale. I moved to Miami a year ago from NYC. I have hired several new team members down here and have established a good network of friends and business relationships.

CRIME
I live near Wynwood and walk home from there a lot late at night. Never saw anything or felt unsafe. Compared to NY this has been a cake walk in terms of crime. Also, homeless down here while present is nothing like my travels to San Diego, San Fran, and of course having left NY after 50+ years.

FLOODS/HURRICANES
It's Florida, gonna happen. Comes with the territory. Most of Miami floods during heavy rains - South Beach, Brickell, Edgewater, Midtown, etc. Part of the deal. You move to NY you suffer nor'easters, polar vortex, AND hurricanes. Pick your poison. For me the good weather far outweighs the flooding and hurricane season.

BANK
Some apartment buildings (we call them condos down here) would qualify for just a 5% downpayment. But, you should plan to put down 20% as a good rule of thumb. $250k is a tough number to find a place, but I wouldn't give up all hope. My friend just bought a one-bed condo near the Design District for $300k. You might check out Normandy Isle for some lower cost condos that are near the beach and is a very safe location.

Overall, I love Miami! I have been to every major city in the US for work and by far Miami is the most amazing city of them all. There is something so unique about it that no other city can capture. Good luck, PM me if you need any further help!

[CXT2000]

Originally Posted by MiamiLIFE

I can't speak too much to Ft. Lauderdale. I moved to Miami a year ago from NYC. I have hired several new team members down here and have established a good network of friends and business relationships.

CRIME
I live near Wynwood and walk home from there a lot late at night. Never saw anything or felt unsafe. Compared to NY this has been a cake walk in terms of crime. Also, homeless down here while present is nothing like my travels to San Diego, San Fran, and of course having left NY after 50+ years.

FLOODS/HURRICANES
It's Florida, gonna happen. Comes with the territory. Most of Miami floods during heavy rains - South Beach, Brickell, Edgewater, Midtown, etc. Part of the deal. You move to NY you suffer nor'easters, polar vortex, AND hurricanes. Pick your poison. For me the good weather far outweighs the flooding and hurricane season.

BANK
Some apartment buildings (we call them condos down here) would qualify for just a 5% downpayment. But, you should plan to put down 20% as a good rule of thumb. $250k is a tough number to find a place, but I wouldn't give up all hope. My friend just bought a one-bed condo near the Design District for $300k. You might check out Normandy Isle for some lower cost condos that are near the beach and is a very safe location.

Overall, I love Miami! I have been to every major city in the US for work and by far Miami is the most amazing city of them all. There is something so unique about it that no other city can capture. Good luck, PM me if you need any further help!

Never knew closet spaces are for sale now. At that price, it's either an old building that is falling apart or someone's shed, considering lots of run down houses there are going for $900K-$3M.

[Corrie22]

Originally Posted by CXT2000

Never knew closet spaces are for sale now. At that price, it's either an old building that is falling apart or someone's shed, considering lots of run down houses there are going for $900K-$3M.

does this link not work?....link works for me

Originally Posted by Corrie22

then there's a ton of 1 BR apts/condos for sale on the beach in buildings 3 stories and less....that are under $300,000

https://www.zillow.com/homes/for_sal...oom%22%3A15%7D

[Monello]

If you have your heart set on being close to the beach, you might want to check out Panama City Beach. I just moved here 2 years ago. I got a reasonably priced place 3 miles to gorgeous beaches.

What country are you moving from?

[masonbauknight]

Originally Posted by Monello

If you have your heart set on being close to the beach, you might want to check out Panama City Beach. I just moved here 2 years ago. I got a reasonably priced place 3 miles to gorgeous beaches.

What country are you moving from?

They're Europeans. Believe me, no urban European who loves Miami (and is looking into Miami for its culture and amenities) would be very happy in Panama City Beach, Delray, or Daytona. That's a totally different lifestyle. Maybe St. Petersburg, but that's about it.

[MiamiLIFE]

Originally Posted by Monello

If you have your heart set on being close to the beach, you might want to check out Panama City Beach. I just moved here 2 years ago. I got a reasonably priced place 3 miles to gorgeous beaches.

What country are you moving from?

Beautiful!