Miami is famous for its luxury properties and vacation homes of the rich and famous. The million-dollar-plus price tags of high-end condos may be out of reach for first-time buyers, but Miami does offer more moderately priced properties. Miami home prices actually span a wide range; according to the Miami Herald, the median selling price for single-family homes hovers around $275,000 and the median price for condos is just over $200,000, providing even more buying opportunities. Here’s a sample of the homes you can find for around $300,000 in Miami.
If you love the beach or desire a high-rise view of the city or water, it’s possible to find a one-bedroom condo for $300,000 in the Miami area. Newer high-rises that offer modern amenities, such as a pool and fitness center, offer upscale living for a moderate price. Smaller square footage is often the norm for these moderately priced condos, some of which give you easy access to the hip Miami beaches or the ability to walk to work. If you don’t mind a commute, you can expand your search to suburban areas such as Hollywood, Florida, which is located north of Miami. For similar pricing, these smaller towns offer beach condos with more square footage and more than one bedroom.
Like condos, living in a townhouse community often comes with luxury amenities such as a pool or fitness center. Many townhouse communities are also managed by an association to ensure that the entire property is well-maintained. If you’re looking for a townhouse in a more family-oriented setting, you can find one in a gated community in areas such as Doral or Kendall for around $300,000. Townhouses usually offer two stories of living space and at least one wall that’s attached to a neighboring house.
In the Miami area, single-family homes that fall within the $300,000 range are often smaller, older ranch-style properties. Even in areas that are well-known for high home prices, more affordable housing does occasionally come on the market. For example, in the exclusive Coral Gables neighborhood, a small three-bedroom home with 1,200 square feet of living space was recently listed for $329,000. Miami Lakes is another area where you can find an affordable three-bedroom, single-family home. A recent listing offered a 2,000-square-foot home that was built in 1999 for $330,000. If you want to purchase a home that’s in a desirable area at a lower price tag, look for properties that are in need of some updating or are up for auction. This technique can also help you afford a home that offers more space.
If you’re planning a move south, don’t let talk of high Miami home prices intimidate you. Start with our interactive search tool, which allows you to set a price limit and view homes that are currently available for sale in a specific area. With a little research and some time spent touring the city to find a Miami neighborhood that fits with your lifestyle, it’s entirely possible to find a home you’ll love for around $300,000.
People are also reading