Top Luxury Condo Locations for Baby Boomers in Miami

When the children leave home to go to college or start a new path, many baby boomers are finding that they have the desire to downsize, but don’t want to lose the luxury lifestyle of a bigger home and exclusive community. In Miami, we are lucky enough to have many neighborhoods that offer luxurious charm in the form of condo units and a luxury lifestyle incorporated into residential offerings.

National data from CoreLogic, BLS, and Freddie Mac have documented the house to condo trend that is happening now with baby boomers downsizing. From 2010 to 2015, there was an increase in the number of baby boomers moving into multifamily units that has freed up nearly 100,000 single-family homes across the country. Boomers are deciding that they don’t want the high-maintenance of a house and instead want to keep the luxury amenities such as accessibility to water, dock space, modern gyms and spas, and options for covered parking without the stress of maintaining a large home.

For the downsizing baby boomers, here are the top luxury condo locations in Miami.

Coconut Grove

Coconut Grove is exploding with new luxury commercial and residential real estate projects. With exciting new opportunities for the CocoWalk complex and luxury condo buildings with shimmering water views creating a live/play reality in the area, the Grove is becoming one of the most popular places for downsizing homeowners.

Featured Condo: Stunning two bedroom, two and a half bath unit overlooking the sailboats in Biscayne Bay. With 12-foot ceilings, new flooring, spacious patios, spa-quality baths and closets, and many other luxury amenities, this unit is absolutely perfect for anyone looking to maintain their lifestyle in a more manageable property. The unit at 2627 Bayshore Drive is available for viewing and purchase. Please contact us to learn more.

Deering Bay

By moving into a condo in Deering Bay, you are giving yourself a golfer’s dream of a lifestyle. With sweeping views of the water and surrounding greens, Deering Bay offers a beautiful Oceanside club community within Coral Gables. The small, private community offers world-class golf and tennis and boasts South Florida’s only waterfront, Arnold Palmer championship golf course. Set amongst the South Florida landscape, Deering Bay provides an escape from the hustle of the city with just the right amount of luxury.

Fisher Island

For something a little harder to access for the general public, consider an exclusive condo on Fisher Island. This little island off of Miami Beach is only accessible by a short ferry ride, but it feels worlds away from the mainland. With seaside golf, luxury spas, plenty of tennis, and unrivaled service, the Fisher Island Club offers all of the amenities of an exclusive club on one of the world’s most exquisite private islands. Only minutes from entertainment and dining in Miami Beach or Downtown, Fisher Island condo-living offers a secluded refined lifestyle desired by many but attainable by only a few.

Bal Harbour

Bal Harbour is an exclusive little village in the North Miami Beach area that provides world-class amenities and housing. By offering impeccable style and endless fine dining and shopping, Bal Harbour is a destination for all who crave a bit of sparkle. Making Bal Harbour your home means stepping into a paradise reserved for the elite. A condo in Bal Harbour will give access to pristine beaches and an enviable luxurious way of living.

For professional advice on all aspects of buying or selling real estate, please contact me at aross@miamirealestate.com or (305) 206-4003 or come see me at the Compass office located at 2550 South Bayshore Drive, in Coconut Grove.

References:

Elmir, K. (n.d.). Families, baby boomers redefining Coconut Grove. Retrieved from http://www.miamiherald.com/real-estate/article200942844.html

 

Hottest Home Resort-Style Features This Summer

Here in South Florida, we are lucky enough to live in a paradise that feels like a place many in the world only see on vacation. This wonderful feeling translates into how we can design our homes to feel more like a resort than merely just a dwelling. In fact, resort-style living can be an everyday reality for luxury homeowners in Miami.

From indoor resort features such as spa bathrooms and wine tasting rooms to outdoor features such as stunning infinity pools that disappear into the ocean, or tropical Zen gardens that make you feel relaxed and worlds away, the luxury amenities accessible to Miami homeowners are endless. Relax with us as we go through five must-have resort-style features for your Miami luxury home.

Resort-Style Pools

It’s no secret that it gets hot in Miami, and the best way to cool down is in a luxurious resort-style pool. From endless infinity pools and infinity spas with waterfront views to Olympic-sized lap pools, every luxury home in Miami should have a beautiful pool to lounge by and enjoy.

Sports Courts and Indoor Gyms

Year-round warm weather means that you can play tennis and shoot some hoops from January to December. Therefore, make the best of your luxury property by including your favorite sports court for the whole family to enjoy. Whether you enjoy indoor bowling or practicing on your very own backyard putting green, create the active resort-style life you would most enjoy.

Include a yoga studio or Pilates bar in an indoor gym for extra stretching and toning. With many styles of luxury gym equipment to choose from, there’s no excuse to have anything less than what inspires you the most to hit the weights in your resort-style gym.

Wine Tasting Room

For those who love to entertain or enjoy spending time at the wineries of Napa, try including a wine cellar and tasting room in your luxury home. An entertaining and innovative room in the home, wine cellars and tasting rooms can provide a unique feature to your already beautiful home. From traditional brick to sleek and modern, wine tasting rooms range in design, but all cellars create an atmosphere of sophistication that will only enhance the resort feel of your home.

Spa Bathrooms

Who doesn’t love a day at the spa? With your very own spa amenities, you can have a day at the spa each and every time you enter your bathroom. From rainfall showers to waterfall jets, steam rooms and towel warmers, your very own luxurious spa bathroom is a perfect addition to your resort-style home.

Outdoor Amenities and Waterfront Views

Of course, the ultimate resort-style feature of a Miami luxury home is a waterfront view. Some of the homes in South Florida have internationally enviable views of skyline cityscapes and stunning blue ocean and bay. With such incredible views, you’ll need additional features to complement them. This is where you should consider large outdoor entertaining spaces with grills and private cabanas, or even a beautiful garden that will wow guests with its tropical colors and creative landscaping. Enhancing your outdoors space to resemble a resort should be on the top of the list of any Miami luxury homeowner.

For professional advice on all aspects of buying or selling real estate, please contact me at aross@miamirealestate.com or (305) 206-4003 or come see me at the Compass office located at 2550 South Bayshore Drive, in Coconut Grove.

 

References:

THE TOP 10 AMENITIES LUXURY HOME BUYERS ARE SEARCHING FOR. (n.d.). Retrieved from http://www.pritchettrapf.com/the-top-10-amenities-luxury-home-buyers-are-searching-for/

 

 

What High-End Art Collectors Look for in a Home

When you’re ready to sell a luxury home, it’s important to understand that potential buyers may be just as discerning as you are when it comes to understanding the market trends and considering high-end homes for purchase. Creating a home environment that appeals to the buyers you are targeting is one of the ways that you can increase the value of your home, as well as move it quickly off the market and into the hands of someone who will appreciate it.

In 2017, the Knight-Frank Luxury Investment Index ranked art as the top-performing asset in luxury real estate, outperforming previous winners such as wine and classic cars. This means that art walls are not just eye-catching, but are an essential asset of luxury home style and décor. More art collectors are looking for homes that can house their expansive collections of collectible artwork, which means that luxury homeowners should consider how to make their home art collector-ready.

Home Reflects Passion

When someone invests in a luxury home, he or she is investing in something that reflects his or her passion. The choice of location and style of the home are aspects of a property that indicate who the homeowner is as a person. When serious art collectors are looking for their next home investment, they will need a space that can house pieces of artwork that reflect who they are.

Typically, this means they need spaces within the home that have at least 10-foot ceilings with the ideal height being closer to 12-15 feet high. Wide wall space is also a necessary component of a luxury home art gallery. Some prospective buyers will look for studio space on the property outside of the home, such as a pool house or cottage on the property that could act as a gallery in itself. Landscaping is also important, especially in South Florida. Many serious art collectors will want to showcase art such as sculptures around the property and not just use the space inside. Therefore, it’s essential that homeowners begin to think about how they want to present their home as an ideal spot for art collectors.

Overlap Between Luxury Home Buyers and Art Collectors

Luxury homebuyers and serious art collectors often overlap, especially because many collections and even some single pieces of artwork can out value a home itself. Place and space add to the experience of purchasing a luxury home with art in mind. Strategically placed art can be the finishing touch that prompts a buyer to choose your property, especially if that buyer sees the value in having his own collection in that space. Some buyers may find your home art galleries so enticing that they may offer to purchase the artwork with the home, which can significantly increase the value of the property depending on the quality of the art piece.

Miami is a Hotspot for Collectors

Miami is a popular international destination for art collectors. Many of these high-end buyers are looking for homes that can hold collections even before those collections exist.  When they come to Miami for significant art events such as Art Basel, they are also looking for a luxury home where they can showcase the unique pieces they acquire from prestigious artists visiting Miami. These buyers are looking specifically for South Florida luxury homes designed with art in mind.

For professional advice on all aspects of buying or selling real estate, please contact me at aross@miamirealestate.com or (305) 206-4003 or come see me at the Compass office located at 2550 South Bayshore Drive, in Coconut Grove.

References:

Bessone, L. (n.d.). The Art of the Collection: In-Home Art Curating. Retrieved from https://luxurydefined.christiesrealestate.com/blog/market-insights/the-art-of-the-collection-in-home-art-curating

The long-established links between property and art. (n.d.). Retrieved from http://www.knightfrank.com/wealthreport/2018/luxury-spending/home-is-where-the-art-is