5 Things to Look for When Searching for Homes in Coconut Grove

Coconut Grove is a beautiful southeast Florida town known for its laid-back vibe and lush vegetation. In recent years, The Grove has become one of the most sought-after and affluent communities in South Florida, offering a wide variety of home types and neighborhoods. As you begin looking for homes for sale in Coconut Grove, it’s helpful to carefully assess your needs and preferences and discuss your goals with a reputable real estate agent. Here are five things to look for as you search for a home in Coconut Grove:

Before you can begin to search for a new home in Coconut Grove, you’ll need to know what you can afford. For some buyers, the sky is the limit, but there’s a well-defined price point for most buyers. In addition to the cost of a home, it’s also advisable to look at the big picture and consider your ongoing expenses and the cost of living in The Grove.

The residents of Coconut Grove are predominantly affluent professionals, C-level executives, and business owners, so you can expect home prices and the cost of living to be high. The median home value in Coconut Grove is $839,374, and the cost of living is 44% higher than the national average. But with all that this beautiful town has to offer, homes remain in high demand.

Once you and your agent know the budget you’ll be working with, you’ll need to determine the type of home you are targeting. Coconut Grove real estate has a stylish Bohemian vibe and offers home styles and types to satisfy almost any preference. Lining the town’s gorgeous tree-lined streets, you’ll find everything from luxurious condos to charming single-family homes and magnificent mansions. If you want a single-family home, there’s no sense wasting time and effort looking at condos, so be sure that your agent is aware of your preferences.

Most of the residential dwellings in Coconut Grove are single-family homes. A 2000-square-foot Florida bungalow with three bedrooms and two bathrooms will command an asking price in excess of $1.5M. Larger estate homes will list for $2.5M up to over $50M for a gated waterfront mansion. Single-family homes offer the freedom and privacy of having one’s own detached home and yard but will also require additional time and resources to maintain. Many of Coconut Grove’s single-family homes are in planned neighborhoods that offer residents many resort-style amenities like community pools, fitness centers, and tennis courts.

Townhouses offer residents a somewhat more affordable option. A nice 2-bedroom, 2-bathroom condo can be found at or slightly above $550K, while a luxury unit can cost significantly more at over $2M, and waterfront units over $5M. Living in a townhome shares some similarities with having a single-family home, but since the house and property are smaller, the amount of upkeep is more manageable.

Condos are in very limited supply in Coconut Grove, so the ones that exist are in extremely high demand. Park Grove and The Grove at Grand Bay have been the two primary luxury condo complexes in the community, offering an exceptional lifestyle. Vita Grove Isle is the newest addition to Coconut Grove’s condominium offerings.

Vita Grove Isle is located on a 20-acre private island in the middle of Biscayne Bay just offshore from Coconut Grove and offers residents an unparalleled waterfront lifestyle. Condos provide the most carefree living experience since you will only need to maintain the interior of your unit. The condominium management company maintains all exterior and common areas. The downside is that you’ll have to pay monthly condo fees, which are very expensive.

 

Another thing to consider as you begin looking at homes for sale in Coconut Grove is the features each house has to offer. While each buyer will have their own specific wants and needs regarding a home, it’s important to document those things before you begin your search. For example, if you need a three-bedroom house with a space for a home office, there’s no sense in looking at homes that don’t offer that feature. In addition to the number of bedrooms and bathrooms, you’ll need, other sought-after features include gourmet kitchens, walk-in closets, off-street parking, security gates, or a waterfront lot and dock.

What amenities do you desire if you are looking for a luxury condo? Do you want concierge services, a private parking space, and a fitness center? Or maybe you want designer features like Italian-crafted cabinetry and high-end appliances. While finding a home with every item on your “Want and Wish List” may not be possible, knowing the things you want the most will help narrow your search.

One thing that makes Coconut Grove so popular is its convenient location. Just a short drive from Miami, Brickell, Miami Beach, and Coral Gables, The Grove is the perfect place for those that work and enjoy nightlife and recreation in and around Miami. Even so, location should be a major consideration as you look for a home. Rush hour traffic (and traffic during tourist season) can be bad, so if you want to minimize your commute time, look for neighborhoods closer to work.

Communities on the north side of town will be closer to the jobs, entertainment, nightlife, and fantastic dining found in Brickell and Downtown Miami. If your home is on the west side of the central part of town, you’ll be close to the beautiful city of Coral Gables, and if you are on the eastern side, you’ll be close to the waterfront and the shops and restaurants of downtown. If your home is on the southern end of town, you’ll be near South Miami and the University of Miami. So, if you work in Brickell, you probably don’t want to look for homes on the south end of town. Likewise, it’s best to target communities in or near the heart of Coconut Grove if you prefer living in a more walkable and urban community.

For families with children, the schools in and near Coconut Grove are some of the finest in the state. Some of the most highly-rated schools are Coconut Grove Elementary, Ransom Everglades (grades 6-12), Carrollton School of the Sacred Heart (grades PK - 12), and St. Stephen’s Day School (grades PK-5). If you have a strong preference for a particular school, you’ll want to work with your agent to find homes that are located nearby.

Finally, a knowledgeable real estate agent is one of the best assets at your disposal as you begin a search for a new home in Coconut Grove. An agent keenly familiar with The Grove can help you target the right neighborhood and find a home that best fits your needs and preferences. Jennifer Price and her team of highly-credentialed agents have the experience and expertise to provide valuable insight and guidance throughout your home-buying journey. Contact the Jennifer Price Luxury Real Estate Group today for more information!

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