4 reasons to invest in Doral

Doral has become a very culturally diverse city, where more than 75,800 people live, according to the last census carried out in 2020, compared to the 45,000 reflected in the 2010 census. Undoubtedly, there are several reasons to invest in Doral, since its growth is only advancing.

 

According to Mayor Bermúdez in an interview for the Doral Family Journal, “Strategic location, diverse economy, low taxes, and quality of life are key factors that continue to drive Doral's smart growth and prosperity.”

 

If you are considering your reasons for investing in Doral, you must take different variables into account. The main ones are: location, the growth of the local economy, the diversity of properties, among others.

 

Keep reading and find out.

 

Location

Doral is 15 minutes from Miami International Airport, and 12 miles from Downtown; it is also surrounded by the Dolphin Expressway or the Palmetto Expressway, which makes it a city with a privileged and strategic location.

 

Doral growth

One of the main reasons to invest in Doral is the growth in all areas of this city. From the last census carried out, quite interesting data was obtained that shows that Doral has become a city and is no longer a suburb. It is not just the population growth in recent years, but this other type of data taken from the Doral Family Journal:

 

·         According to figures from the Miami Association of Realtors, in 2021 and “taking as an example homes with prices up to $500 thousand dollars, the total inventory in Doral is 514 properties for sale in the secondary market, compared to 1,369 that were available on this same date in 2020 and with the 1,315 that were being sold in 2019”.

·         Mortgage rates have fallen in the case of buying and selling. According to the Federal Housing Mortgage Loan Corporation, interest rates during 2021 have been between 2.74% and 3.08%, compared to 3.11% in 2020, when they had already begun to decline and with 3.94% in 2019 and 4.54% in 2018.

·         82% of the population under 65 have health insurance, which is directly linked to the average family income, that in Doral is located at $ 77,493 per year.

·         91.4% of the population have a high school degree and 51.9% of the inhabitants have a university diploma or higher.

 

 

Diversity of properties

The diversity of properties is another reason to invest in Doral. There are modern projects and traditional projects, in addition to luxury condominiums. You can live in gated communities or in multi-story buildings, not counting the variety of prices that offer multiple options and are attractive to many types of investors.

 

Check out our website and see the options we have for you.

 

Multicultural city

Doral is a multicultural city. 85% of its residents are Hispanic or Latino, and 88% of the residents speak a language other than English at home. It is a city that has attracted people from other countries and has become their home.

 

If living in a multicultural area appeals to you, Doral is for you. You will surely learn a lot about other cultures, you will see that the gastronomic offer is diverse (and let's be honest, delicious), and it’s full of cultural events that will keep you entertained and in constant motion.

 

These reasons to invest in Doral are additional to the benefits as a city that we have already mentioned on other opportunities: such as parks, sports facilities, impressive gardens, malls, and good schools for your children.

 

Living in Doral is a great experience.

What do you need to know for 2021? Some Real Estate Trends for this year

 

After a year complicated by the pandemic, 2021 presents us with many challenges. But how will the housing market perform in the current economic system? Here are some of the trends we believe will be present this year:

Trend No. 1: Few possibilities for homebuyers

There were not enough homes for sale during last year to meet buyer demand. The shortage of inventory means you need to be vigilant when looking for a home, as the best homes are likely to sell quickly.  In November 2020, more than 7 out of 10 homes sold had been on the market for less than a month –they sold very quickly.

If you want to find a good home in this scarce market, we recommend to:

1. Give up a few things you thought were a must-have for your dream home.

2. Broaden your search. Your dream home won't necessarily be in the location you think.

3. Get pre-approved.

Trend No. 2: Home prices continue to rise

In November 2020, existing home prices increased 15% compared to last year, reaching a national average of more than $300,000. If you are going to buy a home in Doral, in such an expensive market, you should consider how much you are willing to spend. Make a budget of what you can afford to spend and what you cannot.

We recommend:

- That your house payment does not imply more than 25% of your monthly salary.

-  To save at least 10-20% down payment.

- To choose a 15-year fixed-rate conventional mortgage.

Trend #3: Online real estate services are on the rise

Have you heard of real estate services like Zillow? These allow you to search or list homes for sale online.

What you do is tell companies like Zillow or Opendoor about the house you want to sell. They buy it from you, inject some money into it to resell it at a higher price, take care of all the paperwork for the house, and then charge you pretty much the same as an agent's commission for selling expenses.

Trend #4: Risky buying options are more affordable

Rent-to-own

First, if you're itching to buy a home but can't afford it yet, some sellers like Divvy offer a rent-to-own agreement.

The downside to rent-to-own is that if you later decide you don't want to buy the house or something breaks the contract, all those payments you made will have been a waste.

Whether you’re selling or buying, you can take advantage of the current trends by partnering with a professional real estate agent.

Doral stands out as the fastest growing city in Florida.

 

Coveted in both the residential and commercial sectors, this municipality has been among the most active during this decade.

 

A study by the U.S. Census Bureau, verified by the Metropolitan Center of Florida International University, determined that Doral stands out as the fastest growing city in Florida and number eleven in the entire country. The analysis was based on the speed with which businesses and residential areas have been created.

 

The arrival of people from other countries has visibly impacted Doral, between 2010 and 2016, with a 26.1% increase in its population, which represents about 12,000 people.

 

It is estimated that the factors of the growth are linked to an increase in job opportunities, the low levels of crime, geographic location, quality of schools, and more affordable housing offers.

 

In reports from the City of Doral, this location was added in 2003 to the list of 34 municipalities in Miami-Dade County. At that time, it had 22,709 inhabitants. Currently, the number has increased by more than half, to some 58,000 residents.

 

In the U.S. Census Bureau's report, Miami ranked eighth in terms of growth rate, with a 13.1% increase in its population, as reported by Miami Today.

 

The study also mentions details of the population increase in Miami-Dade County. During the period analyzed, the county's population increased by 8.2%, which is due, first of all, to the arrival of people from other places and, secondly, to the balance of born over dead.

 

West Miami was the second fastest-growing county in Miami-Dade, with 24.6% in this decade. Last year alone, 7,459 new residents were registered in that municipality.

Also, significant population increases have been detected in North Bay Village, Coconut Grove, Brickell, downtown Miami, Homestead, and Cutler Bay.

Moving and Pregnancy

 

Yes, you can! But here are some recommendations

Usually, moving implies work.

You have to organize what stays, what goes, what is needed, and when everything will be taken to the new home.

If, on top of that, you plan to move while pregnant, there are some things you need to take into consideration to carry out this process in the best way.

The house was too small for you and you need to move to a more spacious place to give the upcoming baby a more comfortable space. Here are some tips:

1.    Work hard on your well-being: it is important that despite all that moving implies, you remain calm and don’t let stress take hold of you.

2.    The perfect time to move: between the 16th and 20th week of pregnancy. It won't be the first three months of pregnancy that are much riskier for the baby, but it won't be the last, and it will give you time to buy the baby's room furniture, clothes, and organize the space in the best way.

3.  Always ask for help: if you are working and pregnant, and on top of that you are moving, you don't have to be a superwoman and be able to do everything, it is very important that you ask for all the help you can get to handle all the tasks you have to carry out.

4.    Plan the arrival of the baby with time and a lot of help: it is very important to plan and to be prepared. Being one step ahead of any event will help you be efficient in making decisions.

5.  Don't let the move take up 100% of your time: look for people who can help you organize and pack; you don't have to do everything yourself.

6.  Take care of yourself and you will take care of your baby: find a space to talk to someone, tell them how you feel, get to know you, share and prepare for the arrival of a new stage in your life. Switching homes will add stress, nerves and anxiety, so you must work on yourself and your emotions to be ready for everything.

A guide to emigrating with your school-age children and not dying in the attempt

 

Moving to another country is not an easy decision, especially if you have children. You will need to think about the aspects that can affect them in their routine, mainly because there will be an adjustment process for the whole family.

 

Although children can adjust to changes easier than adults, you should still anticipate and prepare to avoid complications.

 

Depending on your child's age, you need to know how the education system works. In the United States, according to its territorial political organization, each state has its own Department of Education, and schools depend on school districts. The schools in Doral depend on Miami-Dade County, being the 4th largest district in the country.

 

If you decide to enroll your children in public schools, they will be assigned to the school in the area where you live. And here comes another variable to consider: the place of residence. A fact to take into account is that the Florida Department of Education evaluates schools according to student performance, and the classification of schools uses letters, with A being the highest and F the lowest.

 

If you don't speak English, don't worry if your children haven't had contact with the language. There are ESOL (English for Speakers of Other Languages) education programs. These programs have been designed to train the student in the use and knowledge of the language.

How to buy a house in Doral, Florida, and not die trying.

 

Living in the City of Doral not only offers a lifestyle that comforts people of all ages, but it is also surrounded by a great palette of amenities, not to mention that it is located just one mile from Miami International Airport. It also has hundreds of options for family enjoyment and entertainment such as the popular International Mall and Dolphin Mall.

 

Since its foundation in 2003, it has established itself as one of the most desirable cities in South Florida to live in, so if you're looking to buy a home, read on and find out what you need to live in the city of sunshine.

 

Starting the process of buying a property is not easy. It could be tiring because of all the factors that you must be careful about with a transaction of this type. But here is a list of the most important aspects to get the house of your dreams:

 

- Contact a Realtor, they will guide you through the purchasing process.

- Learn about the available credit options, so that the purchase is not in cash.

- According to your credit, choose the area and type of house where you want to live.

- With the supervision of your real estate agent, visit the selected homes.

- After selecting the property, make an offer, and wait for approval.

- Schedule an inspection.

- Let the Realtor take care of the legal issues included in the transaction.

- Be ready for the closing day, get the title, and celebrate the acquisition.

 

The advice of a real estate agent is the best option to know the required documentation that allows you to get the home you want as soon as possible.

Doral: a good option for summer

Doral is a fun place to live. This city offers you a wide variety of activities for all the family; you can find exceptional activities to make your stay pleasant. Here you will find countless accommodations, excellent restaurants of all cuisines, world-class shopping and friendly people.

In summer, Doral is one of the favorite touristic places for its activities, parks, and camps; also, it’s close to downtown Miami and accessible from Miami Beach.

Here are some recommendations and great activities to do if you are planning to come soon:

1)    Trump National Doral Miami is a golf resort in Doral, South Florida. More than golf, this is the perfect getaway for sun-seekers and leisure travelers.

2)  Doral Central Park is located in the commercial heart of Doral, adjacent to the headquarters of Carnival Cruise Lines. Its open green spaces and scenic lake views are ideal for corporate gatherings and community events.

3)     Morgan Levy Park is home to many wonderful amenities, including the very popular soccer fields. It is the best way for everyone in the family to have fun.  Playgrounds, tennis, and soccer are all at play in this beautiful place.

Between parties, festivals, parks, and camps, there are no doubts that Doral has so many options for tourists and natives; for that reason, it is also an extraordinary option if you are planning to invest.

In recent years, Doral has enjoyed a new transformation, which opens new opportunities for buyers to find so many home and condo options to buy and lease.

Doral is growing at a fast rate, and in the real estate sector, the city is currently experiencing a buyer’s market, making it an ideal place to invest or buy a second home.

According to studies, in 2015 Doral ranked first out of 227 places, thanks to its relative affordability, low unemployment rate, and strong population growth.

In Doral Riches we can help you find the perfect home for this summer. Contact us now!

The most common mistakes before investing in real estate

Real Estate is a field where preparation and research are required to make a successful deal. Doral Riches is a team of professionals, and during all our experience, we’ve taken some advice and tips regarding the Real Estate and Property business. Can you identify the most common mistakes?

1.    Start without a business plan: When you have a project in mind, sometimes the excitement takes over and you can make any type of mistakes. If you don’t present a short-term or long-term plan, you can appear unprofessional. It’s important to have your objectives clear, know your market and your audience, the investment needed to start your project, and the solutions to possible problems in the future.

2.    Not knowing your strengths and weaknesses: Analyze this internally: what skills should be improved or which ones should you use more? It’s important to work with the resources you have.

3.    Everyone has something new to bring to the table: If you think that everything is done and you have nothing new to propose, then you’re wrong. Even though it seems there’s a formula, trust your potential and your talents.

4.    Lower your prices: Some clients think that a business is completely negotiable if you lower your prices. While for some it’s the only solution, it’s smarter to find a differential in your business and offer the type of negotiation that doesn’t have a comparison.

5.    Procrastinate: Change your focus all the time, not doing everything on time. While it’s easy to move dates around when there’s so much going on, it’s important to set dates and times when an activity will start and end, since this leaves a good impression in customers.

Although doing business in Real Estate can be intimidating at first, by finding your own style and knowing your strengths you’ll have a great advantage. Doral Riches is here to help you during the process; all you have to do is contact us.

Spring Break in Miami – What to do?

Spring Break is just around the corner. Those days where you can let go of a busy routine and just enjoy some time off with your family and friends. The amount of activities can be overwhelming, and some of them require to have booked months ahead. If you still don’t know what you want to do, we’ll offer you some options so you can enjoy the best Spring Break of your life in Miami!

If you’re a nature lover, the first activity you can enjoy is visiting some of our best beaches. Here, you can enjoy a lovely sunbath, a time of relaxation, or you can even socialize with the rest.

Now, if you prefer the quietness and privacy pools can offer, there are places like The Miami Beach EDITION, an exclusive pool designed by Ian Schrager. Following the trend of 1950s Art Deco, you can enjoy not one, but two private pools and a bar. You can also book a few days in The Confidante, heated and private pools with a “remote island” treatment.

After a long day lounging in a pool, you can enjoy the best nightlife Miami has to offer: pool parties like the Full Moon Swim at Broken Shaker, celebrated every year on a Full Moon, or the Meet Me Upstairs, hosted in the beautifully designed SLS Brickell. But what’s Miami Beach without some of the most extravagant clubs? Basement, Story, Ora, Trade, Score are some of the options if you’re ready to party.

On the other hand, Miami has options if you’re coming with your family. You can visit museums, like the Frost Museum of Science and the Miami Children’s Museum, or take tours around the city; you can see animals up close in the Zoological Wildlife Foundation, or create some artsy memories at the Wynwood Walls.

Enjoy Miami the way you prefer, but when you start to plan out, choose Doral Riches to rent a place for you, or start to invest in a second home, so you can enjoy an eternal Spring Break in sunny Miami. Contact us!

“Location, Location, Location”: The Real Estate Mantra

When searching for a new home, the word “location” is always present. This seems to be what investors look for the most when buying a new property. If you’re planning to move to a new house in 2018, then you should pay careful attention to it, since location might determine your comfort and the value of your investment. 

This mantra didn’t come as an accident; there’s a reason why location is an essential factor in the real estate market. If you buy in a great location, then you will secure the future value of your investment, but a not-so-great location might make you lose money in the long run. Keep reading to find out what you should take into consideration when evaluating a property’s location.

The first things you have to evaluate are your needs and your family’s. If you have kids or you’re planning to, then that’s a game changer. If you have a family, the first thing you have to think about is the little ones in the house and their quality of life. The neighborhood and schools are important factors to take into account. You will want to live in a kids-friendly neighborhood, where they can socialize with other kids, feel free to play outside, and have lots of activities for them to grow around. But fun isn’t everything, you also have to think about their education. Before making your final decision, learn about the school district in order to guarantee a great education for your kids. 

Family or not, you should always search for safety, not only for them, but also for yourself.  Living in a safe neighborhood can save you a lot of headaches. You will have great sleep at night and you won’t have to worry about being alone on the streets. You can even reinforce that safety feeling by choosing a neighborhood that’s near to your family and friends. This way, if you have an emergency, you can easily call them and they will be there shortly. Also, this way you won’t have to travel for hours to see your loved ones, and you can visit them anytime. 

Another important decision when thinking about your next home’s location is choosing between the city, the suburbs, or the countryside. If you’re a very active person, living in the city might be your thing. However, if you enjoy peace and quiet, then this might not fit your needs. Think about the pace you want to take in your life, it varies between those three settings.        

Also, you have to think about your daily needs. Entertainment, medical needs, activities you enjoy, work, shopping: these are all important factors you need to take into consideration. Depending on your priorities, you might want a location closer to work, or one where you can go out at night and have fun. Look up what you will have near home, the time you would take to get from one place to another, and the things you won’t enjoy as easily if you buy that particular home in that particular neighborhood.

Before buying a home with a realtor, you might want to explain to him/her what your needs and priorities in life are. This can be very helpful information for the realtor to show you houses that fit you best and adapt to your demands. 2018 is the year for your dream home!

Millennials: what are they looking for in Real Estate?

You’ve all probably heard this word constantly: “Millennials”. This is the new generation of investors that was born between 1980 and 2000. They have all grown up and now they are looking for new horizons, so buying a home is their next step in life. Technology is their anthem and social media is their flag, the real estate market is of a whole different shade for them than it was for prior generations. Keep reading to find out what millennials want when looking for a home, it might even change your own perception of the market.

Millennials have one thing straight: being practical is a priority. This is the generation of fast, easy, and immediate transactions. Saving time is saving money, it all has to be quick and instant. This is why millennials usually look for properties that are close to their jobs. It seems like location is still a must in the real estate industry, but millennials are no longer thinking about families or kids, but rather their own comfort and time-saving. However, near the city is more popular than in the city, they rather live outside the urban center, just close enough to get there fast.

Convenience and time-saving are also why millennials are searching for move-in ready homes where they don’t have to spend too much of their time fixing and accommodating. And if the home is tech-friendly, then this will definitely be their first choice when looking for a new house. So, their perfect match is a new home where they don’t have to spend any more money renovating and where they can move the very next day after closing the deal. 

Regarding the property itself, space distribution is essential for millennials. They are not looking for a normal home, with a normal living room, a normal kitchen, and a normal bedroom. No, this is definitely not the definition of a home for a millennial. This generation often searches for modern kitchens, open floor plans, and big bedrooms. The master room is a key point for them; the bigger, the better. They appreciate their personal space, and the bedroom is their sanctuary. As for kitchens, the most popular ones around millennials are those with new appliances, they want new and cute. Plus, since the kitchen is their main hangout center, it is important that it connects to other rooms, such as the living room, so open floor plans are very popular among this generation.

Another important factor for this generation is work space. Every day, working from home is getting more attractive for millennials (as well as for other generations). The internet allows us to keep connected to the world without having to go out. So, a working space at home is a very important thing to keep in mind when showing a house to a millennial.

Having a home office is a convenient, money-saving solution. And this should come along with new technology, which is a must for millennials. Fast internet and great cell reception are essential for a millennial. If one of those fails, a millennial won’t probably invest, since they are important parts of their daily life. 

Understanding what millennials are looking for in the real estate is not as hard as it seems. Technology and practicality are key. At Doral Riches we understand their interests and we have all the best properties that fit their needs!