When shoveling snow has reached critical mass in those achy bones, you may become infectious with the common “I’m moving to Miami” syndrome.
This can be triggered by a spark of inspiration to elevate your life – or perhaps you’re tired of paying so much in taxes.
The federal tax overhaul that took place in 2017 limited the amount of state and local taxes (SALT) that taxpayers can write off to only $10,000.
A report by Bloomberg showed that last year, there was more than US$323 Billion in SALT tax bills that could not be deducted, mostly coming from states like New York, New Jersey, Connecticut, and California.
With Miami always ranking in the top 3 states for growth in the past couple of years, we’d like to see a study correlating this recent tax law to an increase in luggage sales.
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With Miami being so far south, Miami has tropical warm weather all year long. The rainy days in the winter can be counted on one hand and with an average low of around 60 degrees and an average high of around 80 degrees, there is nothing average about this weather.
In fact, Miami has the warmest winter climate among all major U.S. cities. Those achy bones are starting to feel better already!
Before moving to Miami, you might want to explore the vastness it offers while staying at one of our top-ranked luxury hotels.
No income, Inheritance and Estate Taxes
As we mentioned, taxes are always a thorn in our side but Miami takes the edge off with you paying fewer taxes than most of the country. This boils down to how moving to Miami on your income compares to other states.
For example, A salary of US$150,000 in Miami, Florida should increase to US$213,457 if you want to live about the same in Los Angeles, California. Here are some other comparison highlights:
- Overall, Los Angeles, California is 40.8% more expensive than Miami, Florida.
- Median Home Cost is the biggest factor in the cost of living difference. Median Home Cost is 109% more expensive in Los Angeles. Let’s talk about housing.
The housing market in Miami is remarkably reasonable for a cosmopolitan resort area on the ocean.
Beautiful condos overlooking the water can be had for less than $1,200 per month in rent and nice homes can be purchased for under $350,000. This makes moving to Miami much easier on the pocketbook than in other states.
Single-family homes have limited inventory but there are tons of condos with “to die for” views of the ocean.
Sure, you could go up to US$39 million for a penthouse but you are still looking at the same ocean. Something we’re sure whoever buys that penthouse doesn’t want to hear.
As one of the largest retirement areas in the world, Miami has a vast world-class healthcare system. Hospitals, clinics, and private doctors and dentists abound. In most cases, appointments can be made in a few days, not weeks or months, even to see a specialist.
Hospitals and doctors’ offices in Miami hold high rankings in the health-care world. With dozens of vegetarian and vegan restaurants along with juice bars and smoothie shops, finding a healthy treat is easy in Miami.
An assortment of farmers’ markets and co-ops supply residents with organic and/or locally grown fruits and vegetables.
In fact, Miami ranks number 1 for healthy behaviors. With the bustling nightlife in Miami, we’re counting dancing as one of those healthy behaviors.
Lots of Historic Neighborhoods
Beyond the radiant sun, surf, and sand, Miami Beach has a rich history as an entertainment and cultural destination. From world-famous Art Deco architecture to renowned nightclubs your life will truly be on the beach.
This neighborhood is the oldest part of Miami, right on the water. Founded in 1873 by an eclectic mix of pioneers, artists, intellectuals, and adventurers, this gives the neighborhood a distinct bohemian flair.
The Grove offers a warm, laid-back atmosphere with charming boutiques, galleries, gourmet restaurants, sidewalk cafes, and sailboats anchored at the bay.
Brickell is the Manhattan of Miami. You can live in a highrise and walk to restaurants, bars, and shopping. This is also a mecca for rooftop bars.
This Miami historical hub buzzes with life. Coral Gables is an elegantly laid out, pedestrian-friendly area boasting tropical foliage, charming boutiques, and architectural grandeur.
Pinecrest is a tight-knit, suburban village with good school districts and is recognized as one of the most beautiful residential areas in South Florida.
The neighborhood has world-class golf courses and resorts, where you can take pleasure in the great restaurants, shops, and parks that populate the area. This is a newer area with beautiful, modern homes.
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Beaches, Beaches, and More Beaches
Who doesn’t love the surf and sand? And if you remember what we said about the weather, you’ll know you can enjoy the endless beaches all year long.
For most people looking for a better life outside of snow, intense heat, or boredom, moving to Miami could be a game-changer for you.
There’s even an official Miami beaches guide that’ll dial you in for the Super Bowl – assuming you can get tickets.