Any “code red” issues with buying in North Bay Village? (Miami: rent, insurance)

[bmw335xi]

I noticed homes in this area are more reasonable priced given the location. Are there any major issues that would make you recommend never to buy a single family home here?

[logybogy]

The biggest long term issue for me would be elevation as it relates to flood insurance. North Bay Village is in a vulnerable spot in the middle of biscayne bay for storm surge with hurricanes. It evacuates for most Cat 1's and that can be annoying and surge from a Cat 3 or more could be catastrophic to an old property that isn't up to code.

I'd really focus in on what the current code is for elevation and what elevation the home you are interested has. Flood insurance costs will be higher on homes not up to current codes and will likely continue to go up.

This isn't unique to North Bay Village. Miami Beach has the same issues and they are spending many hundreds of millions to raise streets to combat predicted sea level rise. I don't know of similar programs in North Bay Village. They are likely too small to undertake such a massive capital intensive process of raising streets without the tax base of Miami Beach.

But typically values are lower because it's just not as nice as Miami Beach. Closer to 79th street in Miami which had a long history of immigration building lines and porno adult strip clubs and theaters. That low rent reputation continues even though the 79th street area is cleaned up a bit from the 80's and 90's.

[MadManofBethesda]

Originally Posted by bmw335xi

I noticed homes in this area are more reasonable priced given the location. Are there any major issues that would make you recommend never to buy a single family home here?

How about a completely inept and corrupt local government? (And for you cynics out there, yes, it is worse than most of the rest of SoFla.) Here are just a few recent articles from the Miami Herald pertaining to issues with the mayor, the village manager, the village attorney, and the police chief:

https://www.miamiherald.com/news/loc...229904034.html

https://www.miamiherald.com/news/loc...226991564.html

https://www.miamiherald.com/news/loc...225506500.html

https://www.miamiherald.com/news/loc...214671165.html

https://www.miamiherald.com/news/loc...210957759.html

https://www.miamiherald.com/news/loc...225988855.html

And here's my favorite article of the past year discussing all the infighting and claims of blackmail, extortion and fraud:

"The regular meeting of the North Bay Village Commission started with a 90-minute mudslinging match as the mayor, city attorney, various commissioners and members of the public accused each other of acting in bad faith, spreading rumors and falsehoods, and in some cases, committing crimes ranging from extortion to fraud.

Insults and accusations have been flung about for years in the tiny island city, but they reached a fever pitch last year after one commissioner revealed to the council that he thought he was being blackmailed for his criminal history."

Read more here: https://www.miamiherald.com/latest-n...#storylink=cpy

[Marc Middleton]

The reason its Cheaper is that there isn't much there. They have a police force, a school, a few restaurants, etc. That's it. You're inbetween 2 bridges depending on which way you leave. Positives are great water front homes that are cheaper than South Beach and a lot are 'wide bay'. But just a regular single family, it's ok. I mean, its a quiet town not far from the beach. Just depends on what you're looking for.

we had a client choose Coral Gables over N Bay village because he wasn't a boater or beach person, so why live there basically? Same size house, but gables is much better

[TirantMartorell]

North Bay Village (and Normandy Isle around 71st street too) are cheaper because they are less desirable than other island communities further north and south. The homes in NBV actually are very architecturally unappealing (to me) - it's mostly 1950s mid-century flat roof homes and the streets have hardly any trees. There really isn't much character to those homes. It's just not known for being a "fancy" area like the mid-beach neighborhoods further south or the area around Bay Harbor Islands/Indian Creek. Not a bad neighborhood, just nothing special about it.

If you want something a bit nicer than NBV, but still not too expensive, try the gated part of Normandy Isle around the golf course (north side of the island). Surfside is also a bit nicer than NBV, but still not too expensive or ritzy.

You'll have issues with flooding anywhere on the beach. If you buy and older home, it's probably not elevated enough and you'll have to pay high flood insurance.

[bmw335xi]

Thank you so much everyone for your answers! Sorry I didn't get back sooner, it's been busy with 8 people visiting staying in my house lol. Yours responses explain why NBV is more affordable and it makes sense. I think I'd actually really enjoy living in Miami. I moved to Orlando and am very happy with the move, but I'm starting to get the itch again. If I were to move, I'd probably be that age where I'd start a family with my GF, so schools etc would also be important. I'm also half asian and my gf is full asian, so the other concern is the lack of asians in the Miami area. I don't have a problem with it, but I wouldn't want my future kids feeling out of place. Anyways, thanks again. I'll check out some of the areas mentioned the next time I'm down there.