Practically everyone looking at the real estate market with the glass half full will tell you that now is the time to buy Miami Beach homes.  Why?  For the same reasons that have been discussed time and time again: low prices, low interest rates, and an $8,000 tax perk.  Should you go out and start browsing through properties?  Not necessarily.

Despite many believing that prices have bottomed out, there’s still no telling how low those prices will go.  Although prices may not be in a freefall anymore, values for Miami Beach homes will continue to drop as long as banks continue to sell foreclosed properties at bargain prices.

You’ve also heard that owning makes more sense than renting Miami Beach homes since the money is essentially going to waste.  It’s certainly a valid argument but at the end of the day renting is still a lot cheaper than owning and you generally won’t have to deal with worrying about maintenance.

This isn’t meant to discourage you from buying Miami Beach homes.  If the aforementioned reasons don’t sound like a problem and you know what to expect, then by all means get out there and see what’s available.  Just remember that even as alluring as it may seem to own a home, the risks and responsibilities may not be worth getting yourself into a long term commitment.