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In Miami, a Younger Household Sought a Home to Develop Into. Would $750,000 Be Sufficient?

by Index Investing News
February 20, 2025
in Property
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When Leonor and Taylor Willis moved to Miami in 2021, neither of them had ever set foot within the metropolis earlier than. “Not apart from altering planes on the airport,” Mr. Willis stated.

The couple, who met at Georgetown College, had been residing in a rowhouse within the Mt. Vernon neighborhood of Baltimore. Ms. Willis, 28, labored as a trainer and Mr. Willis, 31, was a marketing consultant for regional airways. They beloved the town and their city way of life. However when Mr. Willis was provided a brand new place at a Miami-based rail firm, the 2 headed south for an sudden new journey.

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“If you consider Miami, you consider TV — ‘Miami Vice’ or ‘Burn Discover,’” Mr. Willis stated. “No matter you’re seeing there isn’t the true Miami, so I had little or no concept of what the true Miami is likely to be.”

They landed in a two-bedroom rental on the forty seventh flooring of a downtown tower, to protect the walkable way of life they’d loved in Baltimore. Additionally they stored their rowhouse, taking over a tenant to assist offset the $5,000 lease at their new condominium, which they felt was price it due to its big home windows and sweeping views.

Ms. Willis left instructing to take a work-from-home job dealing with enterprise growth for a software program firm (she additionally works as a contract photographer), and used the apartment’s second bed room as an workplace. Even with three furry pals at house — a keeshond named Maurice and two cats, Napoleon and Charlemagne — the condominium was cozy however not overcrowded.

Then in late 2023, the couple welcomed a child lady and squeezed her crib into their bed room. They quickly realized the newborn would want her personal room — not as a result of she disturbed them, however as a result of they disturbed her. “We have been making an excessive amount of noise in our sleep and waking her up,” Mr. Willis stated.

The concept was to lease a brand new place with a major bed room, a house workplace for Ms. Willis and a room for his or her daughter, nevertheless it was harder than it appeared. “It’s arduous to seek out flats which have three bedrooms,” Ms. Willis stated. Those they did discover have been asking considerably greater rents.

They puzzled if it made extra sense to attempt to purchase a home — however with out giving up the town way of life they beloved. For Mr. Willis, who grew up within the far-flung suburbs of Dallas, walkability was key. So the couple began their search in neighborhoods the place eating places and procuring may nonetheless be reached by foot, as a lot for his or her daughter as themselves.

“As she will get older she’ll have the chance to do issues a bit extra independently than being strapped in a automobile seat on a regular basis, which is what my childhood was like,” Mr. Willis stated.

They put the Baltimore home available on the market to assist with a down fee, and eschewed working with a dealer, opting as an alternative to comb listings on actual property websites and discover their very own option to showings.

Their search started casually and stretched over a 12 months. By final summer time, that they had zeroed in on a few residential neighborhoods the place Mr. Willis may have a 15-minute commute to his new job as director of business operations for a jet gasoline firm close to Miami Worldwide Airport. That they had bought the Baltimore home for $465,000 and set their funds for a Miami house to round $750,000.

On the couple’s wishlist: three full bedrooms and, if attainable, a second lavatory for friends. Neither is eager on yardwork, so that they checked out locations with small yards. And each have been hoping to seek out one thing with some architectural character, possibly Artwork Deco or Spanish revival.

Amongst their choices:

Discover out what occurred subsequent by answering these two questions:



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