The Ultimate Guide to Choosing Your Dream Home Coral Gables
Coral Gables is known for its luxury estates and waterfront mansions, but buying a home here doesn’t have to break the bank. There are still reasonably priced possibilities for those on a tight budget to discover the ideal house if you know where to look and what to prioritize in your search. Here are some guides from Coral Gables FL real estate agent Daniel Maya to help you find your dream home:
Set a realistic budget
Establish a firm understanding of your budget before looking for houses in Coral Gables. Experts recommend limiting your home purchase price to three times your household income. Long-term financial wisdom dictates that you should keep within your means, even if it might be tempting to go beyond.
Be open-minded about location and home features
The most expensive Coral Gables homes are those directly on the water or at the heart of the business district. However, you can find relative bargains slightly farther west near Old Cutler Road and south towards Sunset Drive. These areas still allow easy access to shopping and restaurants with the classic Coral Gables aesthetic. Seek out smaller or older homes in need of renovations. Older homes can be hidden treasures, even when move-in-ready mansions fetch high prices. Increase value and personalize it with inexpensive changes like fresh paint, flooring, and landscaping.
Coral Gables real estate: Explore condos and townhomes
Single-family detached homes command the highest sale prices in most desirable neighborhoods. But condominiums and townhomes allow you to right-size your living space while benefiting from pools, fitness centers, and 24/7 security. Quite a few low-rise condo buildings are scattered throughout Coral Gables, where two-bedroom units occasionally list for under $300,000. Even though these homes are part of the Coral Gables community, you will still have solitude despite sharing similar walls with your neighbors.
Consider a fixer-upper
The pristine manicured lawns and perfectly maintained exteriors of many Coral Gables homes don’t come cheap. Properties needing upgrades like updated kitchens, bathrooms, or flooring can sometimes be scooped up for under $500k in Coral Gables. For a small portion of the price of a move-in ready property, you may gradually turn the place into your ideal home with a little work.
Cost of living in Coral Gables
Coral Gables is pricey due to its upscale stores and opulent residential neighborhoods. House costs are around double the national average, while goods and services trend pricier. The total cost of living is 40% greater than in the typical US metropolis when housing, food, entertainment, and other expenses are considered.
Homes for sale in Coral Gables
Coral Gables offers beautiful Mediterranean-style homes surrounded by lush tropical foliage and just minutes from downtown Miami. From spacious single-family homes with pools to luxury condominiums with golf course views, these residences feature arched doorways, barrel tile roofs, and top-notch amenities. Coral Gables offers possibilities for any buyer looking for a beachfront property or an elegant home close to the renowned Miracle Mile. If you take the proper approach, you may locate your ideal Coral Gables property for below-average pricing.
