Do you have equity in your home?

Having equity in your home is essential to avoiding a short sale and having enough funds to cover closing cost, commissions, and sales taxes. If you have owned your home in Miami for at least the last 10 years, you likely are sitting on a good amount of equity.

Things that drive your equity up in Miami

  • Buying into the right neighborhood
  • Simple and cost effective upgrades, like updating kitchens, bathrooms, closets, and roof (keep your budget reasonable and shop contractors for the best price and quality.)
  •  On a budget? Take my personal favorites. Fresh paint throughout, replace old electrical outlet plates and update all door and closet hardware. Don’t forget about changing rusty or dated AC (HVAC) returns and plates.
  • Mulch! Keep your yard fresh with mulch and even some rock landscaping. Home Depot holds sales throughout the year on landscaping products and it’s always a great time to stock up. You can also visit the many landscaping suppliers in Horse Country (west of Miller or Sunset Drive and 117th Avenue) for many hard to find items. SECRET! That’s where I found Jade Mexican Pebbles for one of my personal landscaping projects.

The master key to equity! By at the right time! If possible and if life allows try to buy when it is a buyers’ market and when the market is at the beginning of an upswing. Connect with a knowledgeable realtor from a larger firm to get the right guidance.

Here are some recent sales in Baptist Hospital - Kendall – Dadeland region with amazing equity gains!

 

Address

Size

Sq. Ft

Year

Purchase Price

Sales Price

% Change

8250 SW 86 Court

4/2/1

2,132

1990

$190,300

$575,000

202%

5990 SW 97 Avenue

2/1

1,087

1952

$290,000

$487,500

68%

7840 SW 86 St Apt 22

2/2/1

1,430

1981

$114,000

$336,000

195%

10189 SW 77 Court

2/1/1

970

1988

$79,400

$235,000

196%

7727 SW 86 St #A1-101

2/1/1

1,042

1969

$117,000

$220,000

88%

7732 Camino Real #F-416

1/1

712

1972

$79,900

$150,000

88%

7740 Camino Real #G-405

1/1

712

1972

$55,000

$147,500

168%

 

Call today to see if you have enough equity to make your move.