Real Estate September 13, 2022

Buy or rent a property in Miami?

Buy or rent a property in Miami? If you’re weighing the pros and cons of owning a property or renting in Miami, consider what amenities you can get as a renter and where you might be able to live. Here are some things to keep in mind when deciding the best option in the Magic City.

Pros to rent a property in Miami

Test the waters

Renting a property or an appartement in Miami is a safe bet if you want to explore the Magic City without having to commit to owning a home. Moreover, you’ll have fewer living expenses and more freedom to move, before you consider settling down for good. Also, most landlords offer flexible lease options (12-month, 6-month, or even month to month).

Renting market is very large

Miami is home to plenty of luxury apartment rentals or condos that are great alternatives to buying a new home in the heart of the city.

Whether you’re looking to live in South Miami, Coconut Grove, Coral Gables or Miami Beach, you find fully furnished apartments in all these neighborhoods, complete with top appliances, 24/24 valet, fitness centers or huge swimming pools.

Little maintenance

But when you’re renting a property in Miami, the landlord is responsible for everything. Indeed,  from spraying for pests, to maintaining the AC, to fixing anything that leaks or creaks, that is not for you! Tenant will be responsible for minor maintenance like… replacing light bulbs!


Pros to buy real estate in Miami

Builds equity

Buying real estate in Miami allows you to build home equity. Putting equity into your home will provide you with many financial benefits.

Great ROI (Return on Investment)

Miami welcomes more than 24 million tourists every year. All this people need a place to stay. Owning a vacation property in Miami gives you a strong source of passive income through vacation-goers searching for places to stay with traditional rentals or on platforms like Airbnb.

Enjoy more room

Miami properties typically offer more space than Miami apartments. Indeed, the average size of an apartment in Miami is around 887 square feet, while the median square footage of a home in Miami is around 1,389.

Bottom line

Buy or rent a property in Miami depends on a few factors like the amount of money you have, the neighborhood you want to live in, your job security, and most importantly, your personality. To find the option that fits you the best, check on this list of properties

Disclaimer: Agency One Properties and Laure Deltin Angeletti do not provide any kind of tax, legal, financial or accounting advice. This material has been prepared for informational purposes only.
Neighborhoods September 6, 2022

5 things to do in Coconut Grove

Welcome to The Grove! Born in 1825,  it is Miami’s oldest continually inhabited hood. Between the independent book shops and locally owned cafes, there are also newer developments here. For ex, CocoWalk an open-air mall recently totally face-lifted, luxury high-rise condos and a couple of modern hotels (like Mr. C Coconut Grove a 2019 luxury boutique hotel of 100 rooms, each with a terrace). Here are 5 things to do in Coconut Grove.

Viscaya Museum and Gardens

This 20th-century estate includes Italian Renaissance gardens, natural woodlands, and even a historic village. The Villa also includes a museum featuring antique furnishings, most from the 1400s to 1800s.

For whom? Art lovers, architecture buffs, history fans, garden amateurs.

Peacock Park

One of the greatest family friendly place in The Grove. The park features a boardwalk bridge with expansive views of Biscayne Bay. Plus, it is the site of annual events. Coconut Grove Arts Festival is one of hem, in February of each year. Then, The nine-acre park  offers lots of indoor and outdoor sports, from soccer to softball, football to ping pong.

For whom? Families and sport lovers.

Shopping time at CocoWalk

Shopping is definitely one of the 5 things to do in Coconut Grove! Luxury shopping is a must in The Grove and the commercial complex spread over three floors, houses cinemas, great shops, cafes and a restaurant for every foodie. Don’t miss Gas Bijoux, a jewelry store that was founded in St. Tropez, France. Here, you’ll find stunning handcrafted baubles made in their Marseille workshop and a lot of accessories. You deserve it.

For whom? Fashionistas.

Coconut Grove Cemetery

The cemetery, purchased for $140 in 1913, was initially for Bahamian settlers. It is an essential piece of Miami’s Black history and Bahamian community.

Fun fact: You may recognize this cemetery as the place where the graveyard scenes of Michael Jackson’s Thriller video

For whom? Everyone.

Coconut Grove Farmer’s Market

This market has everything! The variety of organic fresh fruits, vegetables, grains, seeds, and raw vegan foods offered under their tents is extensive. Then, one can find fresh mushrooms, tropical fruits, cactus, vegan meals, sushis, ice cream and so much more. The place to be on Saturday morning.

For whom? Families and pets.


Housing market in this area is booming. Wether it is for rent or for buy, check out all the living in the Grove options here

Real Estate September 6, 2022

What are the closing costs in Florida?

Closing costs in Florida are the fees paid by the buyer and the seller when a home is sold. And if home buyers often budget for their down payment, they may forget about closing costs completely…

Who pay the closing costs in Florida?

Both the buyer and the seller pay for them – they are just responsible for different costs. If you’re a buyer, you pay for fees associated with your mortgage and having the home’s inspection. If you’re a seller, you’re responsible for the agents’ commission and taxes.

Seller’s closing costs in Florida

Sellers can expect to pay from 7-9% of the home’s purchase price in closing costs (this includes the commission fees of the agents)

  • Title search fee
  • Real estate commission (up to 6% of purchase price)
  • Transfer taxes/documentary stamp
  • Promissory note
  • Intangible tax
  • Prorated property taxes

Buyer’s costs

Closing costs for buyers are typically between 2.5% and 3.5% of the price of the home.

These are some frequent costs to consider:

  • Prorated HOA charges, HOA approval fees
  • Survey fee (based on land size)
  • Appraisal fees ($400-$800)
  • Credit report ($50-$75)
  • Loan origination fees
  • Home, mold and termites’ inspections ($375-$1,000)
  • Recording fees ($50-$250)

TIP: Closing costs in Florida can add a significant amount of the total price, and both buyers and sellers should always anticipate before closing a deal. Of course, if you choose to rent a property rather than to buy, these costs are not applicable.

For more info about the closing costs, please click here

How to pay closing costs ?

When structuring a mortgage home loan, there are four ways to pay for the mortgage closing costs: pay cash at closing, roll the costs into the loan (not often possible), increase the interest rate, or do a combination of the three. Discuss this with your banker and your real estate agent as well.


Disclaimer: Agency One Properties and Laure Deltin Angeletti do not provide any kind of tax, legal, financial or accounting advice. This material has been prepared for informational purposes only.
Real Estate September 6, 2022

Being a first-time buyer in Miami? What you must know

Being a first-time buyer in Miami may seem scary but the process is actually more standardized in South Florida than elsewhere. Whatever your reasons are for buying a house in the Magic City, here are some good advice to get ready to embark on the journey of homeownership. Follow the guide.

Financing for first time buyer in Miami, be ready

The loan, a long-term commitment

The average mortgage loan is 20 years! Of course, you don’t need to stay for that long in your house but purchasing a home is a major commitment. So how do you get ready?

Start asking yourself these questions:

  • Do I have a stable income?
  • Do I have enough savings to cover the payment if I lose my job?
  • Do I really want to commit to his house and neighborhood for at least 5 years?

If the answer to any of the above is no, keep working, keep saving and keep looking!

Otherwise, start on the mortgage process before making offers. The mortgage loan process can take longer than usual in South Florida, especially if you plan on financing with one of the big banks headquartered in New York.


The pre-approval for the first-time buyer

mortgage pre-approval is an official document from a lender that tells you exactly how much loan money you can get from them based on your financial information, such as your credit score, W-2s, or/and bank statements.

Why getting this pre-approval is important?

  • You know exactly how much home you can afford.
  • Your offer to the seller is stronger, especially if you are a first-time buyer in Miami: A pre-approval shows a seller that you have the money needed to purchase the home.


The house, 5 years or forever?

Think about your long-term needs and whether a starter home or forever home will meet them best. Online 3D home tours have become very popular with the COVID-19 pandemic. These tours let buyers virtually walk through a home at any hour and observe details that regular photos cannot catch. Open your eyes wide!

It’s critically important for you to verify the condition of the house as much as you can during the inspection period.

But this also includes the basics, like how much HOA or property taxes you will have to pay. Don’t forget to budget for homeowners association fees when shopping for condos and townhomes, or houses in planned or gated communities. Last but not least, save for closing costs!

TIP: Miami Dade county allows you to look up any property’s real estate tax bills in public records. This way, you can verify a unit’s property taxes before you even submit an offer!

Disclaimer: Agency One Properties and Laure Deltin Angeletti do not provide any kind of tax, legal, financial or accounting advice. This material has been prepared for informational purposes only.