MiamiMiami and Miami Beach have a bit of a reputation — thanks in part to the celebrities that have second (or third, or fourth) homes in the area — of being where you go for luxury beach living.

And luxury, as we all know, doesn’t come cheap. But for this week’s Splurge Vs. Steal, we’re heading to Miami Beach, the city connected only by bridges to mainland Miami, where the prices vary as widely as the beaches, and the southern end — South Beach — is nearly synonymous with models and celebrities.

We have a gorgeous beachfront condo with luxurious amenities thanks to its affiliation with a luxury hotel, and a more modest option that is much lower in price point, but ripe for becoming that blank slate ready for your modern touches. Which one will you pick? (more…)