Advice For Foreigners Who Wish To Buy Miami Luxury Homes: How To Avoid Property Tax Complexities

13 April 2012

Miami luxury homes are now considered to be one of the most highly recommended property options to consider on the Miami real estate market because of the fact that they have become more affordable due to recent market conditions and many of today’s property buyers who seek out such luxury homes include foreigners who have grown aware of such an amazing opportunity.

Being a location that has been known to provide people with such an excellent setting due to its position along the Atlantic coast of South Florida, Miami is easily one of the top options for people from all around the world, especially among foreigners who have always dreamed of being able to live in a genuine tropical paradise since Miami offers people with many miles of white sand beaches alongside its astounding views.

But aside from being a place that has great natural assets, Miami is also considered to be very unique from other beach destinations because of its rampant cultural diversity which appeals to people on so many different levels which explains why more than 10 million people from all around the world come to visit the region each year.

Now, the vast majority of foreigners that tend to look into the Miami real estate market are people who can afford the greatest luxuries that money can buy and there is no doubt that being able to purchase Miami luxury homes which go on the property market for values of $1 million and above happens to be one of those great luxuries.

But no matter how much money interested foreigners may have to spare on their most ideal real estate purchases, there remains to be certain complexities which need to be addressed and the best way to do so is by seeking out the professional assistance of a knowledgeable agent that is familiar with all of the real estate regulations involved with regards to foreign buyers.

Unlike standard real estate purchases, foreigners are required to adhere to a different set of regulations, especially when it comes to property tax which explains why many of today’s foreigners who purchase Miami luxury homes are strongly encouraged to do so under the name of a corporate entity as opposed to making the purchase under their own name in order to avoid issues which may arise in the future.

Aside from property tax complexities, there are many other issues that foreigners are going to have to consider prior to the actual real estate purchase. But being able to have a knowledgeable agent to guide them through every step of the way is definitely going to help make the acquisition of Miami luxury homes as smooth as possible.

Yaz Morgan
Miami Luxury Homes