Apartments for Cheap

Questions and Answers

Your Questions About Cheapest Apartments In Broward County

May 23, 2013

Donna asks…

Why would someone rent in South Florida?

A half decent apartment in South Florida is $1200/month at least

If you can find low HOA fees, buying a condo is cheaper. This is even true if you include taxes, insurance, and interest.

Here’s my logic: Even if you buy a place for let’s say $40K, and it loses 50% of its value in 5 years, its still nowhere near as bad of a liability as renting. As an investment it makes no sense, but as a place to live it makes perfect sense by any math I do.

My question: Why on earth would someone rent if they can buy for cheaper? I work from home and I love Florida, is this a good option for me? What’s missing here? BTW I’m referring to Palm Beach and Broward counties.

Administrator answers:

Maybe because:

1. They don’t have a stable job situation.
2. They don’t plan on staying longer than a year or two.
3. They don’t want to be tied to a piece of real estate that they can’t unload. If they have to sell it for a loss, and the bank won’t take a short sale then they have to come up with the difference, or else just walk away from it and destroy their credit.

Carol asks…

I am Brazilian with a USA Tourist Visa. I am interested in purchasing a property in Florida. Tax?ITIN?

I am interested in purchasing a property in broward county.. nothing fancy or expensive, but just an apartment for vacations purpose. I already have a VISA and being to US many times. What the steps are? I already found a property I liked on realtor.com. How to send the money to US? Taxes on getting the money in US? Taxes on top of the purchasing price? Do I need an ITIN number? If I sell it in the future, how much tax will I pay? If was to rent, how much taxes would I pay on the rent income?
I have a very solid financial situation in Brazil (good solid paid off assets + above average income + no debt)… I have cash, but would get a better property with some financing (would put 50% down). But if financing not available, I would just get something cheaper. How would that work? Help? Anyone?

Administrator answers:

All any Remax, Prudential or Century 21 office and ask for a referral to where you want to buy and prepare to send to an ESCROW office
the amount you want to invest.

David asks…

cheap places to live near ft. lauderdale?

i’m graduating college early, and i got accepted into nova southeastern university for grad school…its a reallly good school for my program, but its in ft. lauderdale.
are there any cheap areas near ft.lauderdale that i could live and commute to the college? no further than 30 minutes away. im sure i cant afford anything in the actual city.

Administrator answers:

Nova SE is actually in the suburb of Davie, which is one of the safest areas of Broward County/Ft Lauderdale. The general rule in Broward County/Ft Lauderdale is , you either want to be really far east (by the water) or really far west in the suburbs (west of University Dr). There are affordable apartments up and down University Dr in Davie near the campus that offer good deals..Just remember the farther off campus you go to find cheap rent, the more gas you will spend driving and the more crime ridden neighborhoods you will find. Be careful.

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