Real Estate Investing As Self-Care
Put away the at-home mani-pedi sets and beard oils, investing in real estate is the latest way to show yourself some love. Men and women across the country are finding out that real self-care begins with feeling secure, and nothing says security like a guaranteed roof over your head in what’s turned out to be an unpredictable economic environment.
As reported in the New York Times, women have found that investing in real estate has helped them heal from emotional upheaval after a breakup or divorce. Even those that are coupled up have found that having their name on a deed helps them feel more secure in a relationship because even if the relationship sours, at least they’ll have a place to call home or a property to rent.
A study by Harvard University’s Joint Center for Housing Studies found that, regardless of gender, individuals may benefit from home ownership. As indicated by the study, homeowners are more likely to feel a sense of satisfaction when it comes to their homes and neighborhoods. They also tend to volunteer more often and participate in politics and are more likely to contribute to neighborhood stability.
Benefits of Real Estate Investing in Miami
With home prices steadily increasing since 2011, Miami tops the list of cities for real estate investing in the world; a list which includes New York City and London. Additionally, thanks in part to the pandemic, northern transplants have been fleeing to Miami by droves seeking more space and fewer taxes.
This means real estate investors are seeing a quick return on their investments as price increases fueled by the demand saw a median 15% increase for single-family homes and a 28% increase in the price of condos. In addition to population growth, the benefits of investing in South Florida include a growing labor market, an attractive year-round warm climate, and a thriving real estate market.
Investing In Miami Real Estate
As many realtors have commented, it all comes down to “location, location, location”. When an investor has zeroed in on South Florida, they must do their research to determine where they would like to purchase their investment property. Some sought-after areas include Coral Gables, Coconut Grove, Key Biscayne, Brickell, Village of Pinecrest, South Miami, and the Beaches.
The location could be the deciding factor as to whether or not a property is profitable. Knowing where to invest can be tricky, even for South Florida locals. That’s where an experienced real estate expert like Mauricio J. Barba comes in. “Experience does make a difference,” says Barba, I’ve developed an extensive network of contacts to help you find a luxury property in neighborhoods where homes never go on the market”.
Traditional Rental Property in Miami
Most investors are looking for a traditional rental property in a profitable neighborhood. A traditional rental property guarantees investors a fixed monthly income according to the terms of a lease. In this relationship, the tenant is responsible for the utilities, and therefore, the investor won’t need to worry about additional monthly bills. Long-term leases offer the most freedom to real estate investors, as they won’t be burdened with finding a new tenant as often.
Short-Term Vacation Rentals In Miami
Miami lures vacationers and transient workers from around the world year-round, making the short-term rental property worth consideration. Investors who choose to convert a property into a short-term rental benefit from earning a higher income than those who own a traditional rental property, as short-term rentals could often be rented out for more, especially if the property is in a prime vacation location. Investors may also save money on their vacations by using their rental property instead of a hotel.
Real Estate Investing As Self-Care
When we talk about real estate investing as a form of self-care it all boils down to financial independence. Nothing quite says “I love you” to you than not having to stress about money. Investing in Miami real estate, whether it’s a traditional or short-term rental property, comes with some big rewards.
The passive income generated through real estate investing has helped more and more individuals feel secure, improve their self-worth, and increase their overall happiness. “By increasing predictability and creating a greater sense of stability, financial freedom can help relieve stress and anxiety,” said Tara Well, Ph.D., an associate professor of psychology at Barnard College at Columbia University to HerMoney.com.
Speak to a Luxury Real Estate Expert
Miami Signature Homes President and top producer Mauricio J. Barba knows the ins and outs of complex real estate deals, including where and when to invest in Miami’s uber-competitive market. Respected in his native community by clients and colleagues alike; he has logged top honors for elite performance in his field.
The Miami Signature Homes team is relatively small compared to their sales volume. That has been important in keeping relationships with clients at a very direct level. Mauricio, Tania and Vicky each maintain strong personal connections and professional relationships with all of their clients, many of which have been with the team for decades.
Because of this personal level of service, they devote individual attention and care to every home sale or search. Assistants are great, but Miami Signature Homes makes sure their principals are the people solely responsible for returning important calls or emails 24/7, 365 days a year.
If you’re looking for dedicated service throughout one of the most important financial experiences of your life, call 305.439.8311.