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Are Condominium Luxury Real Estate Listings in Miami Beach a Good Investment?

[vc_row][vc_column][vc_gallery interval=”3″ images=”2177,2178,2179″ img_size=”1200×400″ onclick=”” css=”.vc_custom_1480604823936{padding-top: 75px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]One of the best parts of investing in luxury real estate listings (or any real estate for that matter) is the plethora of options that are available to you, especially in a culturally rich and diverse area like Miami Beach. This benefit can turn to difficulty however when considering what the right choice for you might be. You can easily find yourself drowning in questions like “Is buying a condo a good investment?” The answer to this particular question depends specifically on circumstance. A condo can be an unbelievable investment in the right climate, but not so much in others.

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Distinguishing Condos from Apartments and Townhomes

Before deciding on whether or not a condominium is a good investment for you, it is important to distinguish just what separates condo luxury real estate listings from an apartment or townhome in Miami Beach.

Similar to an apartment, condominiums are buildings divided up into multiple units. These units are sold separately to individual owners each with their own deed or title. An area where condos differ from apartments is in the common areas. Areas like elevators, community lounges, roofing, walls, and the maintenance costs belong to and are the responsibility of the owners of the condos.

This level of ownership by the owners in condominium situations regarding the facility and the land where the building resides is unique to condo facilities and sets them apart from virtually any other kind of real estate. The relationship between the owners is mutually beneficial and symbiotic in nature. If the value of a condominium building goes up, to the benefit of every unit owner in the condo. However, this same circumstance applies with decreasing value.

What Makes Luxury Real Estate Listings a Good Investment?

To put it simply, luxury real estate listings are considered a good investment when the value of the property at the time of sale is worth more than the original purchase price. However, something to consider when investing in a condominium is maintenance costs and improvements. The overhead of maintaining or making additions to your condo can quickly turn an investment from a savvy move to a bad one. It is important to be knowledgeable about all the facets concerning a unit when considering a purchase to ensure a solid investment not only at the time of purchase but also so that the costs of the unit as time goes on doesn’t turn your investment into an unfortunate one.

Large loans when exorbitant interest also can turn a good investment into a negative one. This depends on if the value of the acquired property can increase swiftly to compensate for the interest of the loan. In situations where you are only able to modify the interior of a condominium, the improvements may not be enough to adequately affect the value.

When considering a condominium investment, it is important to consider all costs, not just the price of the purchase. Association fees, maintenance fees, and improvements that are needed or you plan to make all need to factored in the determination of your total investment. Once you have made this determination, then analyze the area trends and the direction of the value of the property. Is the property in a good area? Is it well maintained? How old is the building where the condo resides? If you invest in a condominium unit, all of these things are going to contribute to condo association fees, maintenance fees, and therefore the overall overhead of your investment.

Counting Costs and Steven Vargas Luxury Real Estate Listings

The question “Are condo luxury real estate listing in Miami Beach a good investment?” depends on a variety of factors. Regardless of what you decide to do, consider any and all of your costs. Condominiums are a popular choice for many buyers and investors for variable reasons, but the very nature of purchasing condominiums is unique in a real estate sense. It is worth it to invest your time before investing your capital to know exactly what sort of situation you are involving yourself into. First-time buyers, no matter whether they are purchasing a residence, or simply making an investment, should spend some time discussing the units and facility with other owners in the building to develop a keen understanding of the situation and any other pertinent feedback. It is also worth analyzing the external factors that may positively or negatively affect the property’s value as time passes, as well as the length of time you plan on keeping the investment.

When purchasing any South Florida real estate, an asset that can be of great value is a qualified real estate agent that is familiar with the area that you can trust, and feel comfortable with. This is especially true if you are an individual that is unfamiliar with South Florida, Miami, and Miami Beach. A culturally unique and diverse area, purchasing property in South Florida is highly unlike any other area of the country, and an expert can be a great resource.

Steven Vargas is a real estate agent that was born and grew up in South Florida that specializes in luxury real estate listings in Miami Beach, and all over South Florida. He takes pride in helping real estate investors, as well as individuals and families seeking their forever homes. For more information on luxury real estate listings and the services Steven is able to provide, please contact us today![/showhide][/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text][optima_express_toppicks id=”462705″ sortBy=”ds” displayType=”grid” resultsPerPage=”12″ header=”true” includeMap=”true”][/vc_column_text][/vc_column][/vc_row]

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Chloe Vargas

Miami native, Chloé Di Pietro Vargas, is a rising star in the real estate world. Chloe is a savvy South Florida real estate agent with a passion for helping residential and investment clients buy and sell luxury properties. A specialist in condominiums, high-end homes, and rentals, as well as investment and income-producing properties, she draws her background in property management and communications to analyze off-market opportunities and negotiate seamless deals for her discerning clients.

Chloé is devoted to serving the needs of real estate buyers and sellers in destinations including, Brickell, Downtown Miami, Edgewater, Miami Beach, Aventura, Sunny Isles, and Coral Gables. Whether you’re looking for a luxury condo in Brickell or for a home in Key Biscayne, Chloé looks forward to introducing you to communities and lifestyles of some of Miami’s finest neighborhoods.

While assertive and ambitious, Chloé is also gracious and accommodating; she is, in short, the ideal teammate and agent. Chloé and her partner, Steven Vargas, provide first-class service and unmatched dedication to their clients, with a not-to-be-denied commitment to ensuring the smoothest possible process and the most desirable outcome.

Having built a successful career in events and property management, Chloé has a well-rounded approach to buying, selling, leasing, and investing in real estate. Chloé holds a degree in communications and sociology from the University of Miami.

Steven Vargas

Steven Vargas is a Realtor Associate focusing in luxury condominiums and single family homes in the Downtown, Brickell, Miami Beach and Coral Gables areas. He is an agent who recognizes the importance of utilizing a personal approach when interacting with clients.

Highly energetic, motivated, and detail-oriented, Steven is able to closely relate to his clients and provide viable solutions to any of their questions. With that goal in mind, Steven leverages an entire lifetime of living in Miami to the benefit of those he serves. Having grown up here, he has seen first-hand nearly every lifestyle experience the city has to offer.

Today, he specializes in the downtown and Brickell areas, which he also has called home for the past eight years. Steven believes that the more time you spend talking to people as a problem solver, the more you cultivate a mindset of strong sales and marketing. In his opinion, communication and trust are the keys to generating results. Steven’s valiant efforts have earned him the 2015 “Rookie of the Year” and 2020 “Top Producer” with Cervera Real Estate.

Steven’s love for real estate has opened doors to investments. He prides himself on educating his clients on how to purchase investment properties and receive passive income through this process. Steven and his partner Chloe are focused on creating generational wealth through real estate investing by producing passive income. They love sharing this information with family, friends, and clients leading Steven to launch their first YouTube channel — where he shares his knowledge for all things real estate. Steven is fluent in both English and Spanish.

Find Your Dream Home and/or Investment Property

Partner with a real estate team who will give you the personal attention and advice you need during the buying, selling, renting and investing process. The Vargas Team is committed to applying their skill and knowledge towards helping you find exactly what you are searching for in your next home or investment. To get started on your real estate endeavors today, Steven and Chloe can be reached at (786) 683-2938 or click here to contact us now. We look forward to making your vision a reality!