If you had to choose, would you rather live in Coral Gables or Boca Raton luxury homes? Both cities offer its residents many amenities including fantastic choices in property types and neighborhoods along with the best chefs and dining experiences, top-of-line entertainment as well as cultural events. Both cities also offer the best in fashion with residents enjoying boutiques offering everything from Dior and Caroline Herrera to Tommy Bahama and Versace.
Although these types of interests are important and essential for most new residents moving into an area, one factor that may supersede all others is the cost of living.
Cost of Living Expenses
Wherever you live or are thinking about moving to, it is important to know how much it is going to cost to actually live there. How much is it going to cost to buy bread, pump gas, see a doctor, and pay for a mortgage? Future residents need to be able to budget or else they find themselves in a new city and unable to keep up with their monthly expenses.
The amount that it actually will cost for someone to live in a city is critically important because it may be the difference from moving or staying in your current location. Anyone who receives a job offer with a higher salary may want to take it at first glance. But, if they haven’t calculated the difference in the cost of living, they end up on the losing end.
Although a salary may be higher when just looking at the number, it may not be. The take-home pay may actually be less if the cost of living in the new location is higher. If you don’t work through the numbers, you actually may find that you will be earning less when all the expenses of living in the new city are added up.
Typically, when calculating the cost of living expenses, the basic expenses most people use every day is calculated and compared. Although there is a variety of cost of living calculators available, all usually include these expenses when doing a cost comparison between cities: groceries, housing, utilities, transportation, and health care.
If you currently are living in South Florida and considering moving from Boca Raton luxury homes to Coral Gables homes for sale or the other way around, you may want to think about the cost of living changes that you may experience from this type of relocation. Although the two cities lie only about 50 miles away from each other, there are some differences in the cost of living expenses residents pay for on a daily basis.
Coral Gables Real Estate Compared to Boca Raton Luxury Homes
According to Sperling’s Best Places, housing costs are the biggest difference between these two cities that lie just one county away from one another.
Coral Gables is one of those cities that Miami-Dade County residents flock to because of its fantastic location. Bordering the city of Miami, Coral Gables real estate is some of the hottest in the area because residents can enjoy the sun, surf, and beautiful sandy beach while being close enough to the rhythms of Miami’s social and business lives.
Boca Raton also is known as a fan favorite for many who enjoy Palm Beach County living. It is situated just south of the world renown West Palm Beach where residents like Donald Trump, Designer Tomas Maier, and Entertainer Jimmy Buffet all own homes. Palm Beach County also hosts Entertainer Howard Stern, Novelist James Patterson, and Golfer Tiger Woods.
Between these two cities, Sperling reports living in Boca Raton is 1% less expensive than living in Miami, and housing costs are 2% less expensive in Boca Raton than Miami. Whether it is for professional, personal, or other reasons, if you are moving between Boca Raton luxury homes to Coral Gables luxury homes there will some differences to consider.
