In Coral Gables, buying makes more sense than renting for many reasons. A new study from RENTCafe offers yet another compelling reason to buy instead of rent in the “City Beautiful.”
According to the study of 130 metro areas throughout Florida, as reported by the Miami Herald, the ZIP code that Merrick Manor is located in is the No. 3 most expensive in the entire state. The ZIP code, 33146, has average rents of $2,486 per month.
One real estate broker told the Herald that the “same ZIP codes are likely to repeat in next year’s study.” That means that Coral Gables rents are going to remain extremely high for the foreseeable future.
Other advantages that come with buying versus renting include:
- When considering whether to use your monthly payment to either pay down your landlord’s mortgage or pay down your own, the choice is simple
- Not having to deal with a landlord
- Certainty of knowing where you will be living for the long term, as opposed to signing a one-year lease and restarting the process a year later
- Avoiding annual rental rate increases that are at the discretion of the owner
Located at 301 Altara Avenue, Coral Gables, FL 33146, the 10-story, 227-residence Merrick Manor is just steps away from the Shops at Merrick Park. Between the building’s pet-friendly amenities and the shopping, dining, entertainment, golf courses and art galleries nearby, the Merrick Manor lifestyle truly cannot be beat.
For more information about the residences at Merrick Manor, visit the Sales Gallery on the ground floor of the building – 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 and from 11 a.m. to 5 p.m. on Saturday and Sunday.