Rent V/s. Buy A Property In Sunny Isles Beach! (2022 Guide)

Miami is known for its diverse culture and welcoming community. One of the best places in the Miami-Dade country to experience all the good things that the country has to offer, along with its unique beauty, is Sunny Isles. 

This island stands at less than 2 miles square feet and has a population of just over 20,000. This means that Sunny Isles is not overcrowded and has great potential yet to be explored. There are many things about this small yet welcoming island that would make one happy about their decision for having moved in – temporarily or more permanently. 

Sunny Isles has a safe and friendly community, where the average resident age is 44 years old, and there is diversity in terms of nationality and race, making everyone feel welcome. This island hosts several interests to encourage art, theatre, fashion, and food from the different cultures in Sunny Isles. 

The best aspect of Sunny Isles is that the ocean and beaches surround it. There are several bars, cafes and restaurants which avail varying cuisines and ambience – which you can go to, depending on your mood. You can go for the high-end dining options, or a chill vibe of a café. 

There are 11 public parks on the beaches of Sunny Isles, which have different services such as shaded picnic areas, refreshments, and swimming areas. They also appoint lifeguards for beaches where swimming is not restricted for maximum safety of the people having a fun time. 

Adding to this, Sunny Isles is not only rich in culture and hospitality of the locals – it is famous for the luxury residences and condos, which are up for real estate property. A good broker will get you good deals on the investments you are interested in. 

The condos, such as Oceania Sunny Isles, have great amenities to ensure the privacy and comfort of those living there. These condos allow the owners to experience a balance in their lives at Sunny Isles, with the beach’s natural beauty and the posh comfort of the skyline residences. 

Some famous real estate in Sunny Isles is Armani Residences and Porsche Design Towner. The legacy of these properties allows others to understand and acknowledge the type of lifestyle they would be able to enjoy once they step into Sunny Isles. 

The question that stands after interest in living at Sunny Isles is piqued is whether you should rent or buy a property on Sunny Isles beach. This guide will help you weigh the factors that would play into considering either of the two options. 

Buying Property in Sunny Isles

Buying a property may be a significant financial commitment, but it has many benefits. 

1. Vacation Renting

If you do not buy a property because you will be having rare visits to Sunny Isles only for vacation purposes, then it’s better to think twice about that. When you buy a property, you can rent it out whenever you are sure not to come to pay a visit. This eliminates the barrier that stops you from buying a property in Sunny Isles and helps you gain a source of passive income. You can even rent out different rooms to different people if there is single occupancy – or the whole property for families 

2. Miami Housing Market

The housing market in Miami is one of the strongest in the US, as it has a low rate of 2.8% on the mortgage. Properties sell fast for this reason, and Miami has one of the best real estate markets. Sunny Isles, especially, is a hotspot for property real estate because the architecture and landscaping on this island are exquisite, with a beautiful view of the ocean 

3. Low Property Tax

The property tax in Florida stands at one of the lowest in the US, with Miami-Dade country having as low as 0.83%. This allows people to have access to great deals when buying property. Especially for foreign investors, where the property laws of the US benefit buyers and buyer’s money exponentially

4. Protection of Homebuyers

Florida Homestead Protection imposed by The Sunshine State helps homebuyers outlaw judgment creditors who would force a sale or levy on your house. This jurisdiction also introduces the Florida Homestead Property Tax Exemption, due which homebuyers are warranted to pay less property tax

5. Building Equity

Buying property helps you build equity. It provides several financial benefits and serves as a means of funds for safekeeping. In the future, you can use your property for resale purposes or further investments to get more gains than how much you originally had invested 

6. Your Home!

When you buy a property, it becomes your home. You can customize it however you like and do whatever you wish. It would also be a great reassurance to never worry about having a place when you come to visit the beautiful island of Sunny Isles 

Renting a Property in Sunny Isles!

As buying a property has advantages, renting a property in Sunny Isles also comes with benefits.

1. New to the City

For someone in Sunny Isles just to explore the city, renting a place would seem like a more feasible option, especially for those avid travelers who aim to tour the world. It would be both financially and logically reasonable to rent a property to have a place to get back to when the day is over. 

Most people who wish to explore the city would rarely be seen at home and prefer to see everything Sunny Isles offers. Moreover, for those who come to visit Sunny Isles for specific events such as the food fest, the Miami fashion week, or the Art Basel – they would much rather prefer to have a temporary place for their short trip

2. Financial Expenses

No doubt renting a property would be much less financially imposing than buying a property. If you are looking to spend little on living expenses and more on other things – such as your trip, travel, exploring the city, etc., then renting would help you cut costs to save up and spend where you wish to 

3. Includes Maintenance

When you rent a property, the owner does the maintenance, so you do not have to worry about finding a plumber or someone to fix the A/C. This allows you to truly unwind and relax during a vacation, away from worries that your own home would give you 

Conclusion!

There is a lot up for debate when considering buying a property or renting a property in Sunny Isles. At last, it eventually comes down to the personal factors of the owner weighing in.