London Foster Realty at Dadeland
Liz Kenneally | Realtor

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Owning a slice of Miami paradise sounds pretty dreamy, right? But before you take the plunge, here are some important things to consider

Miami is one of the most sought-after destinations for vacation homes, and it’s easy to see why. From the beautiful beaches to the vibrant culture, it’s no surprise people want to make Miami their second home. But as exciting as that sounds, buying a vacation property here comes with its own set of considerations. Whether you’re planning to use it as a getaway or rent it out part-time, here’s what you should know before taking the plunge.Miami_vaccation_home

Reports from the National Association of Realtors and Miami Association of Realtors show that second-home buyers in Miami come from a mix of domestic and international locations. On the domestic side, a lot of buyers are coming from northeastern states like New York and New Jersey, as well as the Midwest, looking to escape the cold. Even Californians are jumping in, drawn by Miami’s lower costs and investment potential.

Internationally, you’ll find plenty of interest from Latin America—with buyers from places like Argentina, Colombia, and Venezuela—along with Canadians and Europeans (especially from the UK and France). It’s Miami’s warm weather, culture, and strong real estate market that keeps attracting people from all over.

Location, Location, Location

When it comes to buying a vacation home, location is key. Are you dreaming of a beachfront condo in South Beach, or maybe a quiet retreat in Kendall or Coral Gables? Think about what type of vibe you want. Do you prefer the nightlife and energy of downtown Miami, or would you rather be in a more laid-back, family-friendly neighborhood?

For those who want peace and quiet while still being close to Miami’s hotspots, Kendall and surrounding areas can offer the perfect balance. You’re still close enough to enjoy the city, but far enough to avoid the constant hustle and bustle.

Budget Beyond the Purchase Price

It’s not just about the sticker price of the home. Owning a vacation property means there are extra costs to factor in. Think about homeowners association (HOA) fees if you're buying in a condo building, property taxes (which are no joke in Miami!), insurance, and maintenance costs. And if you're buying near the water, flood insurance is a must, whether you’re in a designated flood zone or not. 

If you plan to rent out your vacation home when you’re not using it, that rental income can help offset some of these costs, but make sure to look into local regulations about short-term rentals. Miami Beach and other areas have strict rules when it comes to Airbnb and vacation rentals, so it’s important to do your homework.

Renting It Out? Know the Rules

Speaking of renting—many vacation homeowners plan to rent out their property when they’re not using it. But Miami has some pretty strict regulations on short-term rentals, especially in tourist-heavy areas like Miami Beach.

Some neighborhoods allow Airbnb or other short-term rentals, but others don’t. Kendall and the surrounding neighborhoods, where I specialize, are more residential, so short-term rentals might not be as common or even allowed in some cases. Be sure to check the local zoning laws before making any plans.

Another thing to consider: managing a vacation rental requires effort. Whether you’re handling bookings, cleaning, or dealing with guest issues, there’s a lot to manage. Many vacation homeowners opt to hire a property management company to handle these tasks, which can be a lifesaver if you don’t live in Miami full-time.

Property Management Is Your Friend

Unless you live close to your vacation home or don’t mind frequent trips, hiring a property management company is something you’ll want to seriously consider. A good property manager, like myself, can handle everything from routine maintenance to dealing with renters if you decide to lease the home while you're away. It’s especially helpful for handling any issues that may come up while you’re not around.

I can also make sure your home is well-maintained and ready for your next visit—so when you arrive, all you have to do is relax! If you’re not sure where to start, I can help, or you can look into a local property management company for peace of mind.

The Weather Factor

Let’s not forget that Miami is in the path of hurricanes. When you’re looking at vacation homes, take note of the property’s age, construction quality, and its preparedness for storms. Homes built after 2001 are more likely to meet strict building codes that can withstand hurricanes, which is a big plus.

You’ll also want to check out hurricane shutters, impact windows, and proper roofing. These may seem like small details now, but come storm season, you’ll be thankful you considered them.

Why Miami?

Lastly, let’s talk about why Miami makes such a great place for a vacation home. Beyond the sunshine and beaches, the city offers year-round fun—art festivals, world-class dining, and an international flair that’s hard to beat. Plus, if you’re into outdoor activities, Miami is perfect for boating, golfing, and beach lounging. There’s something for everyone, no matter what your version of relaxation looks like.

So whether you’re dreaming of a beachfront condo or a cozy spot in Kendall, buying a vacation home in Miami is an exciting venture. Just make sure to keep these factors in mind to ensure your investment is a smart one. Ready to start your vacation home search? Feel free to reach out, and I’ll be happy to help you navigate Miami’s unique real estate market!

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What my clients are saying  

Efficient, Effective, and Ethical! Working with Liz Kenneally was an absolute pleasure. Her efficient and effective approach to real estate made the entire process seamless and stress-free. From the moment we met Liz, we knew we were in good hands. She took the time to listen to our needs and preferences, ensuring that we found the perfect home in South Miami. Liz's commitment to ethical practices and transparency gave us peace of mind throughout the transaction. We highly recommend Liz to anyone looking for a trustworthy and reliable realtor in Miami.

 

~ Michael and Jennifer D.

I hired Liz Kenneally to lease out my apartment, and within just 1-2 weeks, she secured long-term tenants who have been a great to work with for the past three years. Her efficiency, professionalism, and warm demeanor made the entire process seamless. Liz understood my needs and executed flawlessly. I couldn't be happier with the outcome. I wholeheartedly recommend Liz!

 

~ Sofia I.

Finding office space for my company was made effortless thanks to Liz Kenneally's exceptional service. Referred to her by a trusted source, I quickly understood why she comes highly recommended. Liz guided us through every step with professionalism and expertise, ensuring we secured the perfect space to meet our needs. The office space exceeded my expectations, boasting a prime location, generous square footage, and excellent amenities. Liz's attention to detail facilitated a seamless transition into our new workspace. Her responsiveness and proactive communication made the leasing process a breeze. Working with Liz Kenneally was a pleasure, and I wholeheartedly recommend her to anyone in search of commercial real estate. Five stars all around!

 

~ Paul M.

Professionalism Personified! Liz Kenneally is the epitome of professionalism. Her attention to detail, proactive communication, and tireless work ethic set her apart from other realtors. Liz guided us through the process of buying our dream home in Coral Gables with ease and confidence. She was always one step ahead, anticipating our needs and addressing any issues promptly. Liz's commitment to excellence and integrity made us feel confident and reassured throughout the entire transaction. We cannot recommend Liz highly enough!

 

~ James and Amanda R.

Liz Kenneally proved to be an exceptional real estate agent. Her expertise in Dadeland area homes, our preferred locale, was truly impressive. Liz's dedication to understanding our needs, preferences, and budget constraints was evident throughout our interactions. She tirelessly worked to find us the perfect home, keeping us updated and promptly addressing all our questions. Liz made the entire process enjoyable, turning house hunting into an adventure. I enthusiastically endorse her to anyone in the market to buy or sell. Thank you, Liz, for your outstanding service!

 

~ Camila I.

5 Stars for Responsiveness, Negotiation skills, Professionalism and communication, Market expertise, Was on point at every turn, from offer to closing.

 

~ Jordi B

Liz went above and beyond to market our property effectively, attracting a flood of interested buyers. Her attention to detail and commitment to showcasing our home in the best possible light truly paid off. We couldn't believe it when offers started pouring in, and even more so when the final sale price exceeded our initial expectations! It was the highest sold price in the community! Liz was responsive, proactive, and always had our best interests at heart. Her negotiation skills were impeccable, ensuring that we got the best possible deal for our property.

 

~ Willy and Gloria P.

Liz was the listing agent for a Miami property I called on and made an appointment to see . That's how it all started.I wasn't working with any agent and I told Liz I didn't want to commit to anyone. She stated she understood, nevertheless, she was relentless in keeping in touch with me. Finally, in one of her phone calls, Liz asked me if she was working hard to get my business ? I said yes, of course. Then she stated, "Imagine, what I am capable of doing in finding and negotiating for you in a tough and competitive Miami market?". That clinched it !

 

~ Arile R.

I want to thank this wonderful Lady that stuck with me until I found just the right place. I am very satisfied and you will always have a friend here. Thank you for everything Liz, you're the best.

 

~ Manny

We trusted her strategy and ended up buying the property that we were initially turned down on. You can say Liz turned that No into a Yes for less money! She is relentless. Thank you, Liz, you are a hard worker, trustworthy, on top of your game and simply a pleasure to team up with you

 

~ Alex Y.

As a business man, one of the things that impressed me about Liz is is her negotiation skills, patience and cool under pressure. She looks for a win-win even though at times we were just being one sided. Liz reminded us it's a sellers' market with properties selling quickly at or little above asking price in the area we wanted to buy.Whatever we weren't familiar with, Liz simplified it so we felt comfortable and understood the transaction.

 

~ Vincent S.

"...One of her best qualities is her ability to stand back, listen to your needs, present you all the alternatives and let you make the original decisions. She is not assertive with her opinion but when she says you better listen because it will be in your own best interest..."

 

~ Ioannis L.

I had a great experience with Liz in the sale and purchase of my new home. She was always available to answer questions with great confidence and knowledge. I consider her a personal friend since we met, through the process of buying this home. Highly recommend her to anyone looking to sell or buy.

 

~ Maria D

Ms Liz Keneally was a angel sent. I was going through personal hardship. And having a hard time not only selling The property but with the result of impending foreclosure. Which at the time was a very difficult time in my life. And she came along. And got a contract within a week. And I have nothing but gratitude towards her and her team. That treated me and my children like family.

 

~ Xenia L.

Liz has been a wonderful real estate agent for us. She is an excellent communicator, and communicates in a very timely manner. Liz provided easy to understand comparisons when we had multiple offers for the property that we were selling. Liz makes sure that all the details are taken care of, and most importantly perseveres in resolving the many issues that arise in a real estate transaction. We have been extremely happy with the work that Liz has done for us. We would highly recommend her for anyone who is seeking to sell or buy property.

 

~ Gary N

As a first time home buyer, I was nervous and worried about being taken advantage of. Liz calmed my nerves and guided me through the process. She was easy to communicate with and took the time to educate me.There were times, we had to negotiate and Liz always made sure to keep the deal alive, while protecting my interests. I have only wonderful things to say about her and would work with her again.

 

~ Sarah S.

Liz was professional from the exploratory stages of home buying to its completion. As a first-time buyer, I was looking into foreclosures. I did not expect the unexpected to say the least. From negotiations to paperwork, I am truly grateful for Liz's knowledge and skills. She guided me through the process and stood by my side when delays arose and frustrations even larger. Her calmness and verbal prowess ultimately helped me secure my very first home! Thank you, Liz!

 

~ Hennifer M

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