Report: Buying Makes More Sense than Renting in South Florida

Anyone in South Florida debating whether to buy or rent should buy as soon as possible, a new report shows. The numbers don’t lie: buying simply makes more economic sense today in our market.

A new South Florida Business Journal article cites a national study from Clever Real Estate subsidiary Home Bay, which concluded that South Florida’s market favors buying over renting. The key reason: a typical monthly mortgage payment in South Florida is just $146 higher than the region’s median monthly rent.

“Because Miami residents aren’t making substantial savings each month on rent, they’re better off buying in the long term,” Clever Real Estate data writer Sam Huisache states in the report, which ranks South Florida as the sixth best place to buy a home out of the nation’s 50 most populated metro areas.

Merrick Manor’s one-bedroom condominiums offer the perfect opportunity for aspiring homeowners to realize their dream of residential ownership, but time is limited as inventory continues to dwindle.

Located at 301 Altara Avenue, the 10-story, 227-residence Merrick Manor’s pet-friendly amenities and lifestyle truly cannot be beat. Merrick Manor is just steps away from the world-class Shops at Merrick Park and has a Zillow Walk Score of 77, making it “very walkable.” The building is surrounded by three championship golf courses and is just 20 minutes from Miami Beach.

Berkshire Hathaway HomeServices EWM Realty is the exclusive residential sales and marketing representative for Merrick Manor.

For more information about the residences at Merrick Manor, visit the new Sales Gallery in Suite 117 on the ground floor of the building at 301 Altara Ave., Coral Gables, FL 33146 – or contact the Berkshire Hathaway HomeServices EWM Realty team by calling (305) 779-6870. The Sales Gallery is open from 10 a.m. to 6 p.m. on Monday through Friday.