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How To Use Your Sunny Isles Beach, Miami Investment Property

Buying real estate in Sunny Isles Beach, Miami has been a popular option for many investors over the course of the last several years. Investors love the area because more and more people are coming to Sunny Isles Beach, Miami to live and to vacation. Having investment properties in the area makes a lot of sense, if you know what you are doing when you are buying.

Be Careful Where You Buy

When you are buying an investment property, you need to do a bit of research. Some areas in Miami are not zoned for rental properties and vacation properties, which means you won’t be able to rent out your unit. If you do, you will be subject to some large fines. These fines have gotten bigger this year – as much as $20,000 for the first offense. Therefore, you need to be very careful when you buy and make sure you are choosing a property in an area that will allow for rentals. Be sure to understand what type of rentals are allowed as well – short-term, long-term, or both. If you are uncertain, you can speak with your Sunny Isles real estate agent, who can help you find a property that will work for your investment needs.

Investment Property Options

When it comes to using your investment property, you have two basic options. You could opt for short-term rentals, which are ideal for renting out to vacationers who will be in the area for a week or two at most. You could also choose to rent to tenants who are looking for a longer-term solution. Some might be looking for a place to stay while they are working in the area for a few weeks or a few months. Others might be looking for a rental where they can raise their family.

You will want to think about the best way to rent out your property to receive the maximum benefit. If you have property that’s right on the beach, for example, having a vacation rental property tends to make the most sense. If you buy a single family home in the suburbs, it might work better as a long-term rental.

Full-Time Property

Of course, you might find that you don’t necessarily want to use the unit you buy as an investment property. Instead, you might find that it makes a good option as a place where you and the family can live full-time. Whether you are retired or you are still raising a family, Miami can be a great place to call home for the same reasons people love to vacation there – great weather, always close to the beach, great shopping, and always something interesting to see and do. If you don’t want to live in the area full-time, you could always use the property as a vacation home for you, your family, and your friends.

You can find some great possibilities when it comes to your property in Florida. Miami is a great state that is going to be popular for many years to come, so take advantage of that popularity now.

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Luxury Amenities Growing in Sunny Isles Beach

Sunny Isles Condos

In the past, Sunny Isles Beach was a good vacation destination. It was a strip of beach filled with bright and colorful motels and families coming from all around the country to enjoy the beach and the ocean. As time wore on though, the motels fell out of use. People still loved the beach, but they wanted something new. Architects and builders saw the potential in the area and they helped to create the Sunny Isles Beach that we know and love today.

As the building boom started, more and more saw Sunny Isles Beach as the perfect area to start building. This was especially true after Miami Beach started to get crowded. Once the building started in Sunny Isles Beach, the price per square foot started to rise. In fact, over the course of the last four years or so, it has risen by about 55% and it’s still going strong.

Today, it is a place for the wealthy, for those who are making more than $200,000 a year and who like the idea of living in true luxury. When you start to look at the various options available, you will find that the buildings today have more amenities than ever before, and they are starting to become just as important as the residence spaces.

More Luxury Amenities for You

Many of the condo complexes that have been built and that have been remodeled in recent years have put much more of an emphasis on the idea of luxury amenities. Turnberry Ocean Club residences is a good example. They removed residences from floors 30 through 32 and provides amenities that encompass several levels and more than 72,000 square feet. The Sky Club includes an infinity edge swimming pool, spas, fitness centers indoors and outdoors, treatment rooms, a lounge, and even a treatment room for the pets.

Some of the other features added to buildings in the Sunny Isles Beach area include game rooms, playrooms, stock trading lounges, board rooms, and meeting rooms. Residents of the aforementioned building will also have access to the Turnberry Isle Resort and Golf Club, which has restaurants, a marina, golf facilities, tennis facilities, and more.

Porsche Design Tower is adding more space for amenities as well. They are adding a restaurant, a bar and lounge, a fitness room, ballroom, and more. Armani/Casa and plenty of other buildings in the area are putting a greater emphasis on the luxury amenities as well.

Why Is Luxury So Important?

When people are buying properties in Sunny Isles Beach, they are looking for more than just a place to call home. While they certainly want a nice place to live with plenty of features in the unit, they also want a building that’s truly special. This means they need to have the right luxury amenities. Why would they choose a building that doesn’t have these features when they could live in a building that can cater to their every desire? You will start to see more of these luxury features added, even if it means including fewer residences in the building.