Well, first of all, congratulations.
You should know that you made an excellent investment.
This is because Miami is in a growth curve, and to buy during a time of development allows you to capitalize in the process. Prices are going up in comparison with prior months, and the tendency is to continue to go up.But… Now what?
Take Care of It
Now that the search is over, and all the worrying is done, comes the time to enjoy your new purchase. If it didn’t come furnished, this is the time to play house, look for nice furniture, dishes, towels, pots and pans… Shopping, how wonderful!
Buying stuff for the apartment allows you to get a glimpse of an American lifestyle. In comparison with many other countries, in the USA in general, services are more expensive than goods, so this is a good time to start learning how to do a few things yourself, like to change a light bulb, learn how to cook and clean. For those who already tried to clean the kitchen floor probably had a good laugh looking for the drain in the floor…there aren’t any!
So the best thing to do is to simplify everything and enjoy the place. Leave work aside and go to the beach, to the park, get to know your new city… Just learn how to live in this wonderful new place. How about taking a new class? Maybe you always wanted to take scuba lessons. Learn how to paddleboard. Tennis. Now might be the right time.
Watch Your Visa
Know that as a tourist, you must respect the time permitted by your visa. If you wish to stay longer, you must extend your visa. It is always best to talk with an attorney, and the worst thing you can do is to stay six months, get out of the country and return for another six months. There is a calculation that the government makes to verify the length of your stay in the last three years, and that should not extend a certain number of days.
Some buildings don’t allow any kind of rentals, others only let you rent your place after a year. Some condominiums don’t have any restriction. If you are not going to use your apartment the entire year, and the association allows it, renting can be an excellent way to recover expenses, such as condominium fees and real estate taxes. Summer vacations go from June to August, and then the “snow birds,” people that can’t stand the cold up North, fly south for the Florida’s great weather from October to March.
You will enjoy this apartment so much that you will want to buy another one. Maybe a larger one. Or maybe a smaller one to rent out and still enjoy this one all to yourself. Perhaps you might want to do something totally different, and invest in some commercial property. In any case, come visit our offices to have a cup of coffee and talk about the possibilities.
It’s good to know. Buy and sell with confidence.