Wednesday, October 16, 2013

The Advantages of Retiring to a Condo in the Keys

The Advantages of Retiring to a Condo

After working for so many years in order to provide for your family, it is now time for you to enjoy your retirement. Facing the choice of where to reside is very important, yet aptly very confusing and stressful. If you are the type of person who likes to live in a stress-free environment, read more to know some of the advantages in choosing to live in a condo after your retirement.

First of all, price-wise, it is extremely important to note that it is so much less expensive to choose a fully furnished condos over buying or building a house. Building a house would mean not only purchasing the land, but also having to pay to build the structure itself.

Condominiums can also be easily customized to suit your own taste. The size of the condominium unit will depend on your preference; the size of units range from a studio-type condo to a 3-bedroom unit.

It is also good to note that maintaining condos are also a lot easier than maintaining a house. For one, condos are a lot smaller than an average house. Some condominiums have their own cleaning service that you can choose to avail of to help you clean up your unit. Most condominiums nowadays also have their own maintenance team on call. The maintenance team is the one who is responsible in repairing and cleaning the condominium exteriors. This means not having to worry about having to repair and clean facilities which includes but is not limited to: swimming pools, elevators, wires, pipes, paint jobs for the exterior of the building and many more.

Security is another advantage that you will be getting when you purchase your own condominium unit. At a ripe age of 60, security is the last thing that you should be thinking about. After your retirement, you should be able to just relax, be comfortable and live your life to the fullest without any additional worries. Most condos nowadays have their own security team patrolling day-to-night to ensure your safety. These buildings are also equipped with built-in security cameras so you don’t have to be bothered about burglars, thieves and unauthorized people roaming around the condominium property.

Another advantage of retiring in a condominium is that it will be easier for you to have a social life. After retirement is a great time for you to make new friends. Living in a condominium means having hundreds of other neighbors residing around you, and do note that a big percentage of those are of your age.

Aside from the reasons mentioned above, one should not forget that retiring to a condominium should not mean just staying inside your unit. Retiring to a condominium should not make you feel bored and uneasy. Most condos in Florida Keys, for example, have complete amenities that you can take advantage of. The basic amenities include a swimming pool with barbeque equipment ready for you and your family gatherings, gym facilities to keep you fit and healthy and laundry rooms that would make cleaning up easier. Most condominiums also provide amenities suited for senior citizens (i.e. disabled facilities, elevators, ramps for wheelchairs). This is extremely important to make your living situation easier

Building a Home in the Fort Lauderdale Area


Buying a lot and building your dream home may be the way to go. The cost of building will vary widely from $50.00 per square to $300.00 and up.
Basically lots in Florida as far as price goes will run as follows.
Most expensive
  • Open-water—Atlantic or Gulf
  • Open-water Inter-Coastal  or other Rivers-Lakes
  • Canal Homes with Open water views (Bay or Atlantic-Gulf)
  • Canal homes-Boat able and quick access to open-water
  • Dry Lots—price widely varies based on the community and area.
  • As to canal lots and how boat ability affects prices.
    If the depth of the canal and the width allows for a 50ft boat or sailboat-it will be more expensive than a lot on a canal that is shallow and usually not as wide. The bigger the boat, the more room needed to turn around.
  • *Access to open water is another factor that influences prices.
  • If you’re only minutes (half hour) to good fishing-diving, expect to pay more.
  • Also homes on shorter canals will generally have better water quality. In the Keys we call these swimming canals. The tides flush them out easier and the water is clear.
Per a MLS search in Sept 2005
Vacant lots-Location-Number available and starting price.
  • Ft Lauderdale, 90 starting at $24,900
  • Hollywood, 51, starting at $105,000
  • Pompano Beach, 27, starting at $29,555
Permit prices and restrictions will vary in each community. Generally the more environmentally sensitive the area is, the more restrictions there are in getting a permit. (Since the water is one of the main reason people want to be here, the state and the communities want to keep it that way.
Important:
  • Regarding pricing. The closer to the water and the deeper the boating,(boat draft-a 50 foot requires deeper water and wider canals than a flats boat) the higher the prices.
  • Another thing to do is find out what flood zone the property is in per FEMA maps and then talk to a local insurer on how that will affect your rates. Do this ahead of time.
  • #In all cases if you find a lot that you like, my suggestion is that you ask for a letter of build ability from the local zoning commission as a clause in your sales contract. Always-always, talk with the county yourself to get the update on the laws.
  • So, yes, you can build here and it’s done all the time, but make sure you ask all the necessary questions and if you can, get it in writing.
  • See the Biz directory for builders if that’s the way you want to go. If you want a new home contact a residential agent.
REGARDING BUILDING
Ask the REALTOR that you pick to help find you a good builder that can respond. Another consideration is to buy a lot and build later (be careful here as building codes and laws can change due to density controls) I would first see how long it takes to get a building permit and then if you get one how long you can wait. In the Keys when you get a permit there is a limit of a couple years during which time you have to at least start the process (bring electric to the site-do a septic check etc)
Since all this varies widely make sure you get all the answers, Probably best to go the the permit department and have a discussion
FT LAUDERDALE AREA PERMITS REQUIRED 
RESIDENTIAL PERMITS
  •     1) Single Family Homes
  •     2) Duplexes
  •     3) Townhouses
  •     4) Small Apartment buildings
COMMERCIAL PERMITS
  •     1) Warehouses
  •     2) Offices
  •     3) Stores
  •     4) Manufacturing Plants
ELEVATOR PERMITS
  •     1) New Construction or Renovation
ACCESSORY PERMITS
  •     1) Pools (Residential)
  •     2) Screen Enclosures
  •     3) Sheds
  •     4) Reroofs/Repairs*
  •     5) Fences *
  •     6) Window/Door Replacements*
  •     7) Air Conditioning installations or replacements
  •     8) Docks
  •     9) Lawn Sprinklers*
  •     10) Propane Gas Tank Systems
  •     11) Burglar Alarms*
  •     12) Decks
  •     13) Hot Water Heater installations or replacements *
  •     14) Low Voltage electric
SIGNS (Electric, neon or non-energized)
  •     1) Wall Signs
  •     2) Ground Signs
  •     3) Pole Signs
Florida Building Codes
Getting a permit
Zoning ordinances For Zoning Information, Contact the Broward County Community Code Compliance Division at 954-468-3434
The purpose of the Building Code is to protect the safety, health, and general welfare of the citizens through structural strength, stability, sanitation, adequate light and ventilation, and safety to life from hazards attributed to the built environment. This is accomplished through the implementation of building, plumbing, mechanical and electrical codes along with various state and local codes and standards
Information on Complaints Against Contractors:
Don't get nailed! Many citizens in Florida have fallen victim to dishonest, unlicensed or improperly licensed contractors. Florida Statute 489 requires all construction contractors to hold a valid contractor's license prior to engaging in contracting. Always require that a contractor show you a valid contracting license before you sign a contract. Some indications that a contractor may be unlicensed are: the contractor requests a large deposit or all of the money up front before any work has commenced, the contractor asks you to pull a "homeowner permit", the contractor pressures you to sign a contract "today or I can't give you this special price." To verify licensure of a contractor, you may call the State of Florida Dep't of Professional Regulation at 941 338-2373 or search their contractor licensing database. The City requires proof of licensure from contractors who pull permits for properties located in the City, so be sure to require that the contractor pull the permit in his name, not your name
So always play it safe and do it right. This will certainly help you in the Insurance area also---The extra structural costs for doing it better really pay off if a Storm hits and or you decide to sell
#The information above is based on my experience in the Florida keys, which is highly regulated due to environmental concerns. With regard to making any decisions, be sure to check with local and state permit and zoning authorities and a REALTOR and/or a Real Estate attorney
To find contractors, builders and other business vendors see the business directory for the area (Under real Estate section) or contact a local REALTOR for help.
*Regarding, building and building permits, be sure to check with the County and city building departments as the laws change.


Fort Lauderdale Transportation


The greater Fort Lauderdale is on the move with an integrated system of well-organized roads, highways, railways, airports, and passenger and shipping terminalsAutomobile
There are five major Highways running through Jacksonville-
  • I-95,
  • I-595 connecting to I-75
  • The Florida Turnpike.
  • U.S. 1,
  • A!A
By car, Ft Lauderdale is:
International Air  Travel
Ft Lauderdale-Hollywood Airport is 3 miles from downtown Ft Lauderdale.
Over 650 flights arrive and depart daily to and from the US, Canada, Mexico, South America and the Bahamas-Caribbean.
Other Airports
  • Fort Lauderdale Executive Airport
  • 6000 N.W. 21st Avenue
  • Fort Lauderdale, 33309
  • 954 828-4966    www.fortlauderdale.gov/FXE
  • North Perry Airport  401 S.W. 77th Way
  • Pembroke Pines, 33023  954 964-0220
  • Pompano Beach Air Park
  • 1001 N.E. 10th Street  Pompano Beach, 33060   954 786-4135
Ocean Transport
Port Everglades 1850 Eller Drive
Fort Lauderdale,  33316  954 523-3404 www.broward.org/port
Port Everglades is the worlds second busiest cruise port and it’s container shipping business is ranked among the top 15 in the Nation. Over 5500 ships call on the Port yearly.
Mass Transit
  • The Broward County (BCT) Transit Authority bus system now operates  routes,. Throughout Ft lauderdale and also have links to Miami and palm Beach.
  • Broward County Transit Authority 3201 W. Copans Road
  • Fort Lauderdale, 33069 954 357-8400 www.co.broward.fl.us/bct/
Tri-Rail
  • Commuter Rail Tri-Rail 800 N.W. 33rd  Street
  • Pompano Beach, 33064 800 874-7245
  • www.tri-rail.com
The Tri-Rail commuter rail system, carries almost three million people a year on a route connecting Miami, Fort Lauderdale and West Palm Beach.
Tri-Rail offers 30 weekday trains, 14 trains on Saturday and 12 on Sunday serving 18 stations
Connections are available at all stations, with shuttles at the Fort Lauderdale/Hollywood and Miami International Airports and Palm Tran connections to the Palm Beach International Airport.
Tri-Rail is the efficient, affordable way to get around South Florida, with fares starting at just $2.
Rail
  • Amtrak/Auto Train
  • 200 S.W. 21st Terrace Fort Lauderdale, 33312
  • 800 872-7245   www.amtrak.com
  • The Amtrak Silver Service connects Fort Lauderdale to the rest of the country. From New York to Los Angeles.
  • The Auto Train originating in Sanford, Fla., about a three-hour drive north, carries cars, drivers and passengers on a nonstop ride to the Washington, D.C. area.
The Water taxi
651 Seabreeze Boulevard Fort Lauderdale, 33316    954 467-6677
Enjoy the “Venice of America” scheduled service Water Buses operated by Water Taxi.
Cruise to hotels, restaurants, nightclubs, theaters, shops, beaches, marinas and more. All Water Taxi boats are Coast Guard inspected and have licensed captains.

In conclusion, regardless of your transportation needs, personal or business, the Ft Lauderdale area is well connected.

Fort Lauderdale Outdoors and Recreational Opportunities


With 28 parks, including state and federal lands, Ft Lauderdale offers recreational facilities that compare with the best in the nation.
A few things to do outdoors in Ft Lauderdale and Broward county.
  • Fishing-saltwater and freshwater
  • Boating-Ocean or River
  • Diving-Ocean wrecks Fort Lauderdale was named Top Ten World's Best Wreck Diving, Marine Life and Value Dive Destination by the readers of Scuba Diving magazine
  • Bike riding
  • Birding
  • Photography
  • Tennis
  • Golf
Recreational Opportunities:
To see a complete list of recreational facilities go to the site below
http://fortlauderdale.citysearch.com/yellowpages/directory/Fort_Lauderdale_FL/150/439/
page1.html
Pro Sports:
  • Baltimore Orioles Spring Training
  • Fort Lauderdale Stadium, 5301 NW 12th Avenue, Fort Lauderdale 954 776-1921.
  • Dania Jai-Alai
  • 301 E Dania Beach Blvd, Dania 954 920-1511 
  • Five Star Pro Rodeo
  • Davie Arena, Davie 954 384-7075
  • Florida Marlins Baseball
  • Dolphins Stadium, 2267 NW 199th St, 305 626-7400. National League professional baseball. April 1- October 1.
  • Gulfstream Park
  • 901 S Federal Highway, Hallandale 954 454-7000. World-class thoroughbred racing
  • Hollywood Greyhound Track
  • 831 N Federal Hwy at Pembroke Rd, Hallandale 954 454-9400.
  • International Game Fish Association (IGFA) World Fishing Center
  • 300 Gulf Stream Way, Dania 922-4212..
  • International Swimming Hall of Fame Aquatic Complex
  • 501 Sea breeze Blvd, Fort Lauderdale 954 468-1580.
  • Miami Dolphins
  • From August to December this 32-year old championship football team plays in Dolphins Stadium. 2267 N.W. 199 Street. Miami. 305 620-2578.
  • Miami Dolphins Training Camp
  • July-August. Nova Southeastern University, 7500 SW 30th Street, Davie. 954 452-7004. Free.
  • Miami Heat
  • This NBA team plays from Oct.-April. American Airlines Arena, 721 NW First Avenue, Miami, 305 577-4328.
  • Pompano Park Racing
  • 1800 SW 3rd St, Pompano Beach 954 972-2000.   

Whatever your recreational needs range from spectator to participant,  Ft Lauderdale and it’s surrounding beaches and parks have it all.

The Arts in Ft lauderdale


Ft Lauderdale, Broward County has a serious commitment to the arts. Whether its, theatre, visual arts, art exhibitions, film festivals, museums  or entertainment venues, Ft Lauderdale is a great place to be creative. So if you’re a writer, musician, artist, photographer or actor, Ft Lauderdale welcomes you.
Riverwalk is the Downtown Fort Lauderdale center for Arts, Entertainment, Events, Shopping, Dining and Nightlife. This website provides a guide to the attractions, events and activities along Riverwalk, and offers information on parking, directions, special offers and exclusive membership. Take your time to explore the pages of our virtual home, and don't forget to check back regularly for up-to-date information on the many exciting events and happenings on the world famous Riverwalk in beautiful Downtown Fort Lauderdale
General Information:
  • Art Galleries
    There are currently over 130 galleries in Ft Lauderdale.
  • Theatre:
    There are 24 Live Theatre facilities, associations.
A few examples below
  • Broward Center for the Performing Arts - Box Office
  • 201 Southwest 5th Street, Fort Lauderdale, FL 33301
  • 954 462-0222
  • Broward Center for the Performing Arts - Box Office
  • 201 Southwest 5th Avenue, Fort Lauderdale, FL 33312
  • 954 462-0222
  • Community Performning Arts Center Inc
  • 4433 Bougainvilla Dr, Fort Lauderdale, FL 33308
  • 954 202-2666
  • Dimond Productions
  • 954 557-1482
  • email: events@dimondproductions.com
  • Florida Theatrical Association
  • 500 East Broward Boulevard, Fort Lauderdale, FL 33394
  • 954 462-7396
  • Florida Theatrical Association
  • Fort Lauderdale, FL 33301
  • 954 462-7570
  • Fort Lauderdale Children's Theatre Inc
  • 640 North Andrews Avenue, Fort Lauderdale, FL 33311
Museums
There are 18 in the Ft Lauderdale area.
A few below
  • Museum of Art
  • 1 East Las Olas Boulevard, Fort Lauderdale, FL 33301
  • 954 525-5500
  • Museum of Discovery and Science
  • Fort Lauderdale, FL 33301
  • 954 467-6637
  • Schacknow Museum of Fine Arts Inc Smofa
  • 7080 Northwest 4th Street, Plantation, FL 33317
For more information on general art and culture go to The Broward Cultural Division Website at http://bcegov2.broward.org/cultural/list.asp?Name=Music
ArtServe, Inc.
An arts supporting organization that provides an auditorium, dance studio, the JM Family Enterprises Gallery featuring exhibitions, office rental space, a computer lab, meeting rooms, as well as technical business support, the Volunteer Lawyers for the Arts and other programs at affordable costs.
1350 East Sunrise Boulevard (954) 462-9191
www.artserve.org
Broadway in Fort Lauderdale
Presents the best of Touring Broadway at both the Broward Center for the Performing Arts and the Parker Playhouse. Subscription packages available.
1-800-764-0700
www.broadwayacrossamerica.com
Broward Center for the Performing Arts
Multi-theater, waterfront complex, home to Broadway in Fort Lauderdale touring shows, Florida Grand Opera, Florida Philharmonic, the Concert Association and Miami City Ballet.
201 SW 5 Avenue
1-800-764-0700, Box Office (954) 462-0222
www.browardcenter.org
Broward County Cultural Affairs
Searchable database of cultural events in the Greater Fort Lauderdale area, a directory of more than 450 cultural organizations, a public art tour, listings of cultural attractions and museums and much more.
100 South Andrews Avenue
(954) 357-7457, 24-hour Arts Line (800) 249-ARTS
www.broward.org/arts
Broward County Main Library
A service of the Board of County Commissioners.
100 South Andrews Avenue
(954) 357-7444
www.co.broward.fl.us/library
Cinema Paradiso
Cinema Paradiso opened officially in January 2001 as the year-round arthouse of the Fort Lauderdale International Film Festival. The Cinema is opened seven days a week featuring independent films from around the world most enjoying their U.S. premiere. The intimate 210 seat (stadium seating) Cinema features a cafe that serves wine, beer, champagne and snacks.
503 SE 6th Street
(954) 525-FILM
www.fliff.com/cinemaparadiso.html
Concert Association of South Florida
Internationally acclaimed organization that has enriched the quality of life in South Florida while championing its cultural stature throughout the world, presenting an impressive array of stars from the classical music and dance world to South Florida audiences.
(877) 433-3200
www.concertfla.org
Cultural Information Center (CIC)
Located on the first floor of the Broward County Main Library and operated by Broward County Commission's Cultural Affairs Division, the CIC is a one-stop shop for quick and easy cultural information and tickets in South Florida. Includes gift shop, cultural concierge booth, online ticketing system and First Moon Cafe. http://www.co.broward.fl.us/arts/cic/index.html
100 South Andrews Avenue
(954) 357-7979
www.co.broward.fl.us/arts/cic/index.html
Curtain Call Playhouse
Touring theater company that includes productions at the Broward County Main Library.
(954) 784-0768
Florida Grand Opera
South Florida's award winning opera company.
221 SW 3 Avenue
Box Office 1-800-741-1010
www.fgo.org/home.htm
Florida Philharmonic Orchestra
Performing throughout South Florida, the Florida Philharmonic showcases the best in classical music by the well-known masters and the most talked-about composers of today.
(954) 930-1812 (tri-county area) 1-800-226-1812 (all other areas)
www.floridaphilharmonic.org
Fort Lauderdale Children's Ballet Theater
(954) 491-4668
Fort Lauderdale Children's Theater
640 North Andrews Avenue
(954) 763-6882
www.flct.org
Fort Lauderdale Historical Society
Enclave of historical houses dating back to the early 1900’s known as Old Fort Lauderdale. The Old Fort Lauderdale Museum of History and King Cromartie House showcase the Society’s permanent collections and changing exhibitions reflecting the history and heritage of the Fort Lauderdale community.
219 SW 2 Avenue
(954) 463- 4431
www.oldfortlauderdale.org
Fort Lauderdale International Film Festival
The Fort Lauderdale International Film Festival presents the most compelling and thought-provoking international films, hosts special tributes and seminars and introduces some of the greatest talents to South Florida audiences. The 28-day festival screens over 100 films from Boca Raton to Miami and is the longest film festival in the world. Considered one of the most important regional film festivals in the U.S., the Festival’s commitment to first-time filmmakers and innovative programming make it the perfect test market for filmmakers.
503 SE 6 Street
(954) 525-FILM
www.fliff.com
Gold Coast Jazz Society
Gold Coast Jazz is a not-for-profit organization that celebrates the creativity and artistry of jazz, the music of America. Mainstage concerts at the Broward Center for the Performing Arts, a jazz festival, member events and free community programs.
(954) 524-0805
www.goldcoastjazz.org
Miami City Ballet
Under the artistic leadership of legendary dancer Edward Willella, Miami City Ballet is a must-see, world-acclaimed dance company, performing a full season of dance at the Broward Center for the Performing Arts.
(305) 929-7010 Toll Free (877) 929-7010
www.miamicityballet.org
Museum of Art
This beautiful facility, designed by Edward Larrabee Barnes, has rotating exhibitons and a permanent collection: Masterworks from the Meyer and Golda Marks CoBrA Collection: Art Amaze.
1 East Las Olas Boulevard
(954) 525-5500
www.moafl.org
Museum of Discovery and Science / Blockbuster IMAX Theater
A hands-on science museum for children and adults. Seven interactive exhibit areas. Powerful 3D IMAX® cinema puts you in the center of the action.
401 SW 2 Street
(954) 467-6637 or (954) 463-IMAX
www.mods.org
South Florida JAZZ
Performance-oriented nonprofit organization focusing on the modern jazz idiom. The principal activities include production and presentation of the annual Hollywood Jazz Festival and "Jazz Impressions," an six-concert monthly series held in the auditorium of the MUSEUM OF ART - Fort Lauderdale from January through June.
(954) 779-3032; 1-877-877-7677
www.southfloridajazz.org
Stranahan House
Tiny, beautifully restored, turn-of-the-century, riverside home of Fort Lauderdale's founder is the oldest residence in Fort Lauderdale, and is furnished in period antiques.
335 SE 6 Avenue
(954) 524-4736
www.stranahanhouse.com
Symphony of the Americas
The Symphony of the Americas is a classical symphonic orchestra enriching the cultural environment of South Florida. The Symphony annually presents Summerfest with an international orchestra performing concerts in 5 counties in Florida and 6 countries of the Americas.
(954) 545-0088
www.symphamer.com
¡Viva Broward!
Viva Broward! sponsored by Bank of America is a countywide celebration of Hispanic Heritage Month and features 33 events in 12 cities with 75 organi-zations. The calendar includes the cultural contributions and traditions of art, music, dance, the visual arts and education.
(954) 527-5346
www.vivabroward.com
In conclusion the Beach areas, Las Olas Blvd and the River walk areas look like works of art. Public fountains and statues can be found throughout the city. In addition to all this, you’re an hours drive from Miami and all of its options.
For other specific information go to the links at the left.


Tuesday, October 01, 2013

Buying a home in Miami Beach for the first time: what you should know 

When considering the option of buying a home in Miami Beach, there are two specific questions each potential buyer must ask:
1. What are the costs to owning my own home?
2. Would it be cheaper in the long run to rent?
There are some Miami Beach residents who will tell you that it’s a clear-cut fact that renting is just throwing your money down the toilet, as the costs for a house payment are almost the same.  Given both options, I will discuss the pros and cons of each with the hope to allow you to make a suitable decision that will match your living requirements.
Firstly, you'll need to consider your financial stability and affordability to the fact, whether you will be able to maintain the costs associated with home ownership. You'll need to make that initial down payment which is relative to the sum of money borrowed at a percentage value and a monthly payment figure on the remaining balance.
This monthly loan repayment sum, will not only include the principal monthly payment, but will also include the home insurance, insurance for mortgage and may as well include additional applicable taxes.  If you decide on taking the option of taking the rental route, then you'll most likely not be accountable for the overall maintenance of the property, as you have the ease of being able to call upon your landlord for all upkeep and repairs, however, minor. There are some rental options which the rental amount will be inclusive of utilities such as, phone, power, water, etc., whereas with owning your own home, you are solely responsible for ensuring that such utilities are paid on time with respective of your billing cycle.  Now you're probably wondering; well, which one should I do; Rent or Buy?
Don't despair I am going to enlighten you on the yes and no’s associated with renting and owning your own home in Miami Beach.  When to Rent?  You may want to consider renting a home for the first time, not being familiar with the neighborhood and may need some time to get a feel about the area before you commit yourself into buying a home.  If the mortgage rates are high, you will almost certainly want to wait until the market rates depreciate, making it financially affordable. If you're in the transition phase of looking for a job, new girlfriend, recently divorced, just married or all of the above; then you probably will not be financially stable to sustain the loss of owning your own home initially with the added responsibility of making monthly payments, fees, utilities and maintenance. In a case such as this, it is generally recommended that you take the rental option.

Buyers and Sellers markets:
You've probably heard the terms when considering buying your first home. You need to pay close attention to this particular pointer when buying or renting. If you're looking forward to buying your first home in a seller's market, you'll probably want to reconsider this option and take the rental route. It has been noted that during the seller's market, homes are easily sold and home price's peak to the highest value. This market allows little or no room for negotiation as buyers are forced to settle for high sale prices as they find themselves competing with other buyers for the same property.
The buyer's market, however, or as I like to call it, the educated market is one in which there is a surplus of homes with little or no available buyers forcing the prices to plummet in this region. This is the time to buy. Noted as educated market buyers are required to strategically make a purchase when the value is at its lowest right before the market recovers and the prices go up.  With these notable factors, it is easily seen where the benefits of renting a home gains preference over home ownership.  The American dream of Home Ownership is a dream of every resident, as this option gives rise to a variety of intangible benefits received when one makes this huge commitment.  When you have made the decision to purchase, you become immediately eligible to what is referred to as Tax Breaks. These tax breaks are generally a series of deductions from your income taxes payable to the IRS written off as breaks such as mortgage interest, taxes paid for real estate and other taxable amounts associated with purchasing a Home or Condo.
Working from home also allows additional Tax breaks in the form of utilities. It is best. However, to check with your accountant to ensure which tax breaks are applicable to you under Florida Law.
Purchasing your initial home or allows you to immediately incur a monetary value to your new property. It is important to note that when you have taken a loan for the purchase of your new property, most if not all the first few payments are directed towards the interest portion of the loan with the remaining balance scheduled for the principal balance. Equity, otherwise termed as value of property, is determined by the duration of time you as the home owner lived at your newly purchased residence, which increases the longer you live there. This is easily translated into monetary profits should you decide to sell your home. This value can also be made available as securable funds which can be used for home improvements such as remodeling your bathroom or effecting additions to your home.  When purchasing your own home you have the option to make whatever changes you decide in relation to your own personal style or expressive nature in the form of colors, designs and accessories for your home without having to seek permission from a landlord or caretaker. Although this option does have its limitations should you reside in an area governed by a home approval association with certain rules and stipulations in which you may not be able to simply just do as you please.  The purchase of a home is a very serious financial commitment and not one which should be taken lightly as you level of responsibility must be aligned with your commitment and desire to maintain and uphold the tasks associated with home ownership.
Renting; however, is more of a temporary measure as I like to call it "getting your feet wet" preparing to take the plunge of owning your home.

Article courtesy of Jairo Fuentes at  www.southbeachcondosforsale.com