There is a moment in almost every Miami story when the question arrives, usually from a relative: when are you going to buy? A recent Bloomberg column took that question seriously and came back with an answer that many people in high-cost cities reach on their own. The columnist, who is 39 and signing a one-year lease in Miami Beach, argued that renting is not a holding pattern or a failure to launch. It is a legitimate financial position, supported by math, and economists and advisors he consulted.
The core of the argument is straightforward. People tend to compare a monthly rent check against a monthly mortgage payment, which is not a fair comparison at all. The honest version adds closing costs, property taxes, insurance, maintenance, repairs, association fees, and the opportunity cost of a down payment that is no longer invested. Once those numbers are on the page, the gap between renting and owning in an expensive coastal market widens considerably. Renting also carries something ownership cannot offer: a fixed, predictable monthly cost and the freedom to change your mind in 12 months.
Personal finance author Ramit Sethi, who is 44 and has rented for two decades, made the case memorably in the same column. He explained that renting allows him to live in better neighborhoods and buildings than he would otherwise be able to access, with essentially no maintenance obligations, and that the payoff has been his stated life goal of never having to “walk into a Home Depot” again. He is not talking about settling. He is talking about buying his weekends back.
A weekend spent replacing a water heater is a weekend not spent on Biscayne Bay. The value of that time does not appear on any amortization table, but anyone who has owned a property in a humid, salt-air, hurricane-exposed climate understands exactly what it is worth.
Havana Enclave was designed with that trade in mind. Residents get a location and level of finish that would command a significant premium to purchase, along with a maintenance team that handles the things Sethi never wants to think about again. What remains is a predictable monthly number, a short commitment, and the flexibility to keep your capital working somewhere other than a single illiquid asset.
Havana Enclave’s leasing is being led by The Oscar Arellano Team at Coldwell Banker Realty, with Oscar Arellano, Eyvis Mendoza, and Nelson Albareda heading the effort as exclusive leasing representatives for the project. To learn more or to schedule a visit, stop by our leasing office at 3485 W. Flagler St., Suite 100, open Monday through Friday from 10 a.m. to 6 p.m., Saturday from 11 a.m. to 5 p.m. and Sunday by appointment-only in the hours of operation. You can also reach the leasing team at (305) 802-2266 or visit havanaenclave.com.
Developer The Astor Companies continues to make incredible progress on the construction of Havana Enclave as it moves closer to its expected completion in the first quarter of 2027. Havana Enclave reflects Astor’s commitment to meet Miami’s housing needs and help the city it calls home reach its full potential.
Havana Enclave General Contractor BDI Construction is making significant progress in powering the building. Security cameras are now being installed, along with landscaping trees in the building’s pool area. Power testing is underway in different areas of the building. This follows the successful installation of FPL meters near its vault and five of Havana Enclave’s electric vehicle charging stations.
Astor and the Havana Enclave team look forward to officially opening the building in the first quarter of 2027! For more information about the project, visit blog.HavanaEnclave.com or email Info@HavanaEnclave.com.
