Miami is a great place to look at new condos. The condominium market has been rising steadily for the past few years. Condo values rose more than 27 percent between 2000 and 2002, and the median value of condos ($163,500) sat just below that of single-family homes ($168,400) in mid-2003. While this trend is not guaranteed to continue, the condo market has regained the momentum and importance it had in the initial condo boom of the 1980s. Condo buyers fall into three main groups: first-time buyers making the jump from renting; people looking to buy a second home that they will use part-time; and retirees who are trading in high-end homes for the low-maintenance lifestyle a condo provides. A condominium can be a great purchase under the right set of circumstances, but some people still dismiss them as glorified apartments. If you're not comfortable living within condo rules and restrictions, and in close proximity to others, then a condo is probably not the place for you. Before you buy a condominium, make sure you understand exactly what is involved in condo living.
A condominium development can take the form of apartment-style complexes, townhouses or converted multi-family dwellings. What distinguishes it from other multi-tenant buildings is that the developer has legally declared it a condominium, and individuals can purchase units in the building or complex. In most states, this means that the development falls under specially designated laws and regulations applied to condominiums.
Common areas of the development, such as stairwells, dividing and outer walls, fitness centers and rooftop gardens, are under shared ownership. Each unit owner holds an interest in these spaces. In order to manage the maintenance and repair of the shared common areas, every condo development has a condominium association, also known as a unit-owners' association. The association is elected by condo owners and makes communal decisions in the interest of the community This can help when looking into a Miami condo. It can also help to know the history of Miami and hence, the place you will be moving into.
The first permanent European settlers arrived in the early 1800s. People came from the Bahamas to South Florida and the Keys to hunt for treasure from the ships that ran aground on the treacherous Great Florida reef. Some accepted Spanish land offers along the Miami River . At about the same time, the Seminole Indians arrived, along with a group of runaway slaves. The area was affected by the Second Seminole War, during which Major William S. Harney led several raids against the Indians.
Most non-Indian residents were soldiers stationed at Fort Dallas . It was the most devastating Indian war in American history, causing almost a total loss of population in the Miami area. After the Second Seminole War ended in 1842, William English, re-established a plantation started by his uncle on the Miami River . He charted the “ Village of Miami ” on the south bank of the Miami River and sold several plots of land. In 1844, Miami became the county seat, and six years later a census reported that there were ninety-six residents living in the area. The Third Seminole War (1855-1858) was not as destructive as the second one. Even so, it slowed down the settlement of southeast Florida . At the end of the war, a few of the soldiers stayed.
