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Hey it's Jamey Prezzi with Miamicitydiggs.com and I'm here with my partner...
*Hello everybody, I'm Ognjen Prezzi
Today we're here to talk to you about Tips for buying about Miami Beach Real Estate and
what you should consider in terms of monthly maintenance fees.
*Ok, so if you are looking for Miami-Beach condos online, you will come across a variety
of the numbers for the monthly maintenance fees. And you know, you really got to understand
this really varies from building to building and for the location of the building as well.
So, Jamey, let me ask you a question, why do you think why the monthly fees are different
from place to place?
Well, there is basically, I think two different reasons: 1. The building's budget and 2. The
size of the unit.
*That's very interesting. Actually, when we talk about the size of the unit, but this
is very important fact that buyers, some people they can't understand what is the difference
between one bedroom and two bedroom units when it comes to monthlymaintenance fees.
Everything is based on the square footage. So clearly, if you buy a smaller place, your
monthly maintenance will be less.
Yes, that's true. And also you should find out what's included in the monthly maintenance
fees. I mean, some buildings they include cable and internet services and that might
be why the fee is it a little bit higher. Some buildings also include reserves. And
the reserves, are usually set aside for future projects down the road. So you should always
make sure to dive in a little bit deeper and find out exactly what's involve to the monthly
maintenance fee. And don't make a snap judgment as soon as you see that number. Because the
building may be really responsible financially but there just may be a lot of additional
items that are included.
*Correct. One of the very important factor to consider, you know, location wise. Is your
property or building is it ocean front or it's maybe somewhere else in Miami or Miami
Beach. It's very, very important just because of the fact that ocean front builidngs are
going to have more wear and tear and most likely your maintenance fees will be little
bit higher than the regular ones.
Yeah, because a lot of ocean property buildings also have specialty services like beach and
towel service and chair service.
*But these services are nice. Imagine, when you live in ocean front buildings, when you
go to the beach and somebody will just bring you a chair, get your towel. Can't go wrong
with that.
Anyway, if you have any questions about maintenance fees in Miami Beach, give us a call at 305-793-8965.
You can also visit our real estate blog at Miamicitydiggs.com.
*Have a good day!