Frequently Asked Questions

Answers to common questions about buying and selling luxury waterfront real estate in Miami.

Neighborhoods

Why invest in Coconut Grove or Coral Gables waterfront real estate?

Coconut Grove and Coral Gables represent the pinnacle of Miami luxury, offering deep-water access and high-appreciating estates with limited inventory. These neighborhoods combine historic charm with modern amenities, making them highly desirable for both primary residences and investment properties.

What is the difference between Coconut Grove and Coral Gables?

Coconut Grove has a bohemian, artistic character with lush tropical landscaping and a walkable village center. Coral Gables is more Mediterranean and formal, with strict architectural guidelines that maintain its historic character. Both offer waterfront properties, excellent schools, and proximity to downtown Miami.

What waterfront amenities are available in Coconut Grove?

Coconut Grove offers premium waterfront amenities, including private docks, marinas such as Dinner Key Marina, sailing clubs, and direct access to Biscayne Bay for boating and water sports. Many waterfront homes include private boat lifts and deep-water access for yachts.

Pricing & Market

What is the typical price range for Coconut Grove waterfront homes?

Coconut Grove waterfront homes range from $3M for bay-view properties to $50M+ for large estates, with the most active segment between $3M-$10M. Luxury condos range from $1.5M to $15M depending on location and views.

What are the property taxes like in Miami-Dade County?

Miami-Dade County property taxes typically range from 1.8% to 2.2% of assessed value annually. Florida has no state income tax, which often offsets the property tax burden for buyers relocating from high-income-tax states. Homestead exemption is available for primary residences, reducing the taxable value by up to $50,000.

Buying Process

How long does it take to buy a home in Miami?

The typical timeline from offer acceptance to closing is 30-45 days for conventional financing and 14-21 days for cash purchases. However, finding the right property can take anywhere from a few weeks to several months depending on your specific requirements and market conditions.

Can foreigners buy property in Miami?

Yes, there are no restrictions on foreign nationals purchasing residential real estate in Florida. International buyers can purchase property in their own name, through an LLC, or through other legal structures. I work with attorneys who specialize in international transactions to ensure proper structuring for tax and estate planning purposes.

International Buyers

Do you work with international buyers relocating to Miami?

Yes, Tara Panaccione provides comprehensive representation for international buyers relocating to Miami, including property search, neighborhood analysis, transaction coordination, and connections to local professionals including attorneys, CPAs, and immigration specialists.

What languages do you speak?

Tara Panaccione is fluent in English and Spanish, providing seamless service for both domestic and Latin American clients.

Schools & Families

What schools are near Coconut Grove luxury homes?

Top schools near Coconut Grove include Ransom Everglades, Carrollton School of the Sacred Heart, and St. Stephen's Episcopal Day School, making it ideal for relocating families seeking high-quality education. Public school options include Coconut Grove Elementary and George Washington Carver Middle School.

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