I'm sure a thousand people have asked this already (Miami: sales, apartment)

[Sarahlee23]

Hello all! My boyfriend and I are looking to relocate from MD to FL in October. I have only been to visit once and that was to Orlando. So, I am unfamiliar with FL and wanted to see if anyone had suggestions on what a good location would be for 20 somethings? Nice nightlife, a lot to do, people to meet our age, good job market, close to beach? Thank you

[granitelady]

good job market? I don't think that exists anywhere any more.
I suggest you look into the job part first so you don't take the risk of moving and then being unemployed. Younger people seem to like South Beach, but it's very expensive to live there, Ft. Lauderdale and Hollywood also have a lot going for young people.
come down for a week to "feel" the areas before you make a decision and keep in mind that rent here is much higher than in MD

[Shoegal1075]

Originally Posted by granitelady

good job market? I don't think that exists anywhere any more.
I suggest you look into the job part first so you don't take the risk of moving and then being unemployed. Younger people seem to like South Beach, but it's very expensive to live there, Ft. Lauderdale and Hollywood also have a lot going for young people.
come down for a week to "feel" the areas before you make a decision and keep in mind that rent here is much higher than in MD

Shockingly high in comparison to what most people's salaries are. I don't know how these complexes stay open charging the rents they do.

[StreetSmarts]

The rent is high here in Orlando too, Chelsa. Our 2/2 was $1100/mo in Orlando. Our rent in Asheville was $600/mo for a very similar apartment, and pay in Asheville is the same as Orlando. I'm not trying to make this an Asheville vs Orlando, but just letting you know how different it is in much of FL for rent. South FL is even more expensive than Orlando area too.

[Shoegal1075]

Originally Posted by ComSense

The rent is high here in Orlando too, Chelsa. Our 2/2 was $1100/mo in Orlando. Our rent in Asheville was $600/mo for a very similar apartment, and pay in Asheville is the same as Orlando. I'm not trying to make this an Asheville vs Orlando, but just letting you know how different it is in much of FL for rent. South FL is even more expensive than Orlando area too.

I know - I pay 1600 for a 2 bedroom 1 bath with garage in Woodside plus electric - the apartment I was looking at in SFl was 1570 with water trash and sewage, but way bigger and tons of amenities, but pricey since I'm sure to take a 20K pay cut. I can't move to another place though - family is taking me to Florida - so, I'll have to deal with it. It still is a TON better than what I have right now!

[♥♥PRINC3Ss♥♥]

Originally Posted by Chelsa1075

I know - I pay 1600 for a 2 bedroom 1 bath with garage in Woodside plus electric - the apartment I was looking at in SFl was 1570 with water trash and sewage, but way bigger and tons of amenities, but pricey since I'm sure to take a 20K pay cut. I can't move to another place though - family is taking me to Florida - so, I'll have to deal with it. It still is a TON better than what I have right now!

The thing here is that is better to own than rent. Rents are competitive as many ex-homeowners have bad credit now, and many of the landlords overpaid for their properties. I would consider buying within the next year.

[fauve]

Originally Posted by ♥♥PRINC3Ss♥♥

The thing here is that is better to own than rent. Rents are competitive as many ex-homeowners have bad credit now, and many of the landlords overpaid for their properties. I would consider buying within the next year.

I think you're exactly right.

[MisterNY]

Originally Posted by Chelsa1075

I know - I pay 1600 for a 2 bedroom 1 bath with garage in Woodside plus electric - the apartment I was looking at in SFl was 1570 with water trash and sewage, but way bigger and tons of amenities, but pricey since I'm sure to take a 20K pay cut. I can't move to another place though - family is taking me to Florida - so, I'll have to deal with it. It still is a TON better than what I have right now!

Glad you came and saw for yourself. Thought it was cheap? Think again, but yes, you are getting a nicer, newer spot for your money.
Does it come with a private garage by the way?

Originally Posted by ♥♥PRINC3Ss♥♥

The thing here is that is better to own than rent. Rents are competitive as many ex-homeowners have bad credit now, and many of the landlords overpaid for their properties. I would consider buying within the next year.

I'd say it's better to rent than to own, right now. Compared to having to pay Property Taxes, Home owner's insurance, Mortgage, your own repairs, HOA fees, ...versus renting.

I'd say renting makes more WAAAAYY more sense now than owning.

The downside of renting from a homeowner is not knowing if the house you're renting will foreclose on, any day. There are some shady, unethical characters out here trying to scam people. Be careful out there.

[StreetSmarts]

Originally Posted by fauve

I think you're exactly right.

I'm not so sure it's the best time to buy in FL right now. I thought that way until recently. Prices may continue to drop, and as transient and come n go as FL is, I think renting is the best thing right now.

According to the Forbes article yesterday... Miami is THE worst, and "the rest of FL" is 2nd worst.

Prices may continue to drop further.

[fauve]

Originally Posted by ComSense

I'm not so sure it's the best time to buy in FL right now. I thought that way until recently. Prices may continue to drop, and as transient and come n go as FL is, I think renting is the best thing right now.

According to the Forbes article yesterday... Miami is THE worst, and "the rest of FL" is 2nd worst.

Prices may continue to drop further.

Which Forbes article are you referring to? Id love to check it out.

As far as buying versus renting, it comes down to what's best for you. For me putting the same money into a house generated more "equivalent" income than I would ever be able to generate in the stock market, and then I would also have to pay taxes on it. It would cost me about $2500 a month to rent the place Im in now and that same principal money invested would have only generated around fifteen hundred a month tops. After taxes, that would have shrunk to one thousand. Then, Id also have to worry the market could tank again. At least now I have a roof over our heads. If the housing market tanks some more, we still have a roof over our heads. If the stock market tanks, I risk losing what income I have, which would risk whatever I could rent for a thousand/month - a one bedroom which would be too small for our family of four anyway.

If we need to move, I could still rent the place in the overheated rental market for more than Id make in the stock market and be able to live comfortably elsewhere. Everyone's situation is different. I do believe however that the housing market will jog around this level for many years and there is no rush to buy. I would suggest renting if you believe you will be moving shortly . Otherwise, there's no time too soon to begin paying for your house that you will need the equity from once you hit retirement. It comes along a lot quicker than you'd think and not having the expense of housing is essential unless you're very comfortable. Better safe than sorry.

Also, the inflation in housing rentals has far outweighed the inflation in housing prices. Just think - the housing sales market has returned to 2000 levels, but the rental market has continued to rise steeply. It just amazes me that a one bedroom goes for a thousand a month. With interest rates, the way they are, you can buy a townhouse for that monthly amount.