3 questions you need to ask yourself before buying a Boston Seaport condo

If you are debating purchasing a Boston Seaport District condo right now, you are probably getting a lot of advice. Though your friends and family have your best interests at heart, they may not be fully aware of your needs and what is currently happening in the Boston Seaport condo market.

Ask yourself the following three questions to help determine if now is a good time for you to buy in today’s market.

1. Why am I buying a Boston Seaport condo in the first place?

This is truly the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a Seaport District condominium? For most, the reason has nothing to do with money.

For example, a study by realtor.com found that “73% said buying in a good school district was “important” in their search.

This report supports a study by the Joint Center for Housing Studies at Harvard University which revealed that the top four reasons Americans buy a home have nothing to do with money. The actual reasons are:

  • A good place to raise children and provide them with a good education
  • A place where you and your family feel safe
  • More space for you and your family
  • Control of that space

What does owning a home mean to you? What non-financial benefits will you and your family gain from owning a home? The answer to that question should be the biggest reason you decide to purchase or not.

2. Where are Boston Seaport condo values headed?

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the median price of homes sold in February (the latest data available) was $249,500. This is up 3.6% from last year. The increase also marks the 84th consecutive month with year-over-year gains.

Looking at home prices year over year, CoreLogic is forecasting an increase of 4.6%. In other words, a home that costs you $250,000 today will cost you an additional $11,500 if you wait until next year to buy it.

What does that mean to you?

Simply put, with prices increasing, it may cost you more if you wait until next year to buy. Your down payment will also need to be higher in order to account for the higher price of the home you wish to buy.

3. Where are mortgage interest rates headed?

A buyer must be concerned about more than just prices. The ‘long-term cost’ of a home can be dramatically impacted by even a small increase in mortgage rates.

Freddie MacFannie Maethe Mortgage Bankers Association and NAR have all projected that mortgage interest rates will increase over the next twelve months, as you can see in the chart below:

Boston Seaport condos for sale

Boston Seaport condos

Bottom Line

Only you and your family will know for certain if now is the right time to purchase a home. Answering these questions will help you make that decision.

Boston Seaport condos for sale

Boston Seaport Condos for Sale under $3M

View Boston Seaport District condos for sale under $3M

Unlike other Boston condo brokers we give back 50% of our portion of the commission to YOU the buyer.

34 Results
2
Beds
2
Baths
1,569
SqFt
(11)
 
 
#72469411 | Condo
 
3
Beds
2 | 1
Baths
2,113
SqFt
(7)
 
 
#72436507 | Condo
 
2
Beds
2
Baths
1,406
SqFt
(10)
 
 
#72483024 | Condo
 
2
Beds
2 | 1
Baths
1,478
SqFt
(8)
 
 
#72469091 | Condo
 
2
Beds
2 | 1
Baths
1,496
SqFt
(19)
 
 
#72446996 | Condo
 
2
Beds
2 | 1
Baths
1,496
SqFt
(19)
 
 
#72447000 | Condo
 
1
Beds
1 | 1
Baths
1,035
SqFt
(9)
 
 
#72464002 | Condo
 
2
Beds
2
Baths
1,250
SqFt
(10)
 
 
#72449996 | Condo
 
2
Beds
2 | 1
Baths
1,268
SqFt
(19)
 
 
#72456787 | Condo
 
2
Beds
2 | 1
Baths
1,266
SqFt
(17)
 
 
#72445313 | Condo
 
2
Beds
2
Baths
1,068
SqFt
(14)
 
 
#72466681 | Condo
 
2
Beds
2 | 1
Baths
1,249
SqFt
(12)
 
 
#72422948 | Condo
 
1
Beds
1
Baths
1,602
SqFt
(30)
 
 
#72459433 | Condo
 
2
Beds
2
Baths
1,528
SqFt
(16)
 
 
#72463146 | Condo
 
2
Beds
2
Baths
1,075
SqFt
(14)
 
 
#72457718 | Condo
 
2
Beds
2
Baths
1,068
SqFt
(14)
 
 
#72407220 | Condo
 
2
Beds
2 | 1
Baths
1,930
SqFt
(13)
 
 
#72485223 | Condo
 
2
Beds
2
Baths
1,732
SqFt
(12)
 
 
#72458258 | Condo
 
1
Beds
1
Baths
845
SqFt
(14)
 
 
#72444902 | Condo
 
2
Beds
2
Baths
1,510
SqFt
(28)
 
 
#72470047 | Condo
 
1
Beds
1
Baths
803
SqFt
(19)
 
 
#72435961 | Condo
 
1
Beds
1
Baths
1,150
SqFt
(21)
 
 
#72448897 | Condo
 
2
Beds
2
Baths
968
SqFt
(9)
 
 
#72479263 | Condo
 
1
Beds
1
Baths
651
SqFt
(15)
 
 
#72435948 | Condo
 
© 2019 MLS Property Information Network, Inc. (MLSPIN). All rights reserved.
The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.
MLS PIN data last updated at April 22, 2019 12:33 PM ET

Boston Seaport Condos for Sale under $2M

View Boston Seaport District condos for sale under $2M

Unlike other Boston condo brokers we give back 50% of our portion of the commission to YOU the buyer.

26 Results
2
Beds
2 | 1
Baths
1,268
SqFt
(19)
 
 
#72456787 | Condo
 
2
Beds
2 | 1
Baths
1,266
SqFt
(17)
 
 
#72445313 | Condo
 
2
Beds
2
Baths
1,068
SqFt
(14)
 
 
#72466681 | Condo
 
2
Beds
2 | 1
Baths
1,249
SqFt
(12)
 
 
#72422948 | Condo
 
1
Beds
1
Baths
1,602
SqFt
(30)
 
 
#72459433 | Condo
 
2
Beds
2
Baths
1,528
SqFt
(16)
 
 
#72463146 | Condo
 
2
Beds
2
Baths
1,075
SqFt
(14)
 
 
#72457718 | Condo
 
2
Beds
2
Baths
1,068
SqFt
(14)
 
 
#72407220 | Condo
 
2
Beds
2 | 1
Baths
1,930
SqFt
(13)
 
 
#72485223 | Condo
 
2
Beds
2
Baths
1,732
SqFt
(12)
 
 
#72458258 | Condo
 
1
Beds
1
Baths
845
SqFt
(14)
 
 
#72444902 | Condo
 
2
Beds
2
Baths
1,510
SqFt
(28)
 
 
#72470047 | Condo
 
1
Beds
1
Baths
803
SqFt
(19)
 
 
#72435961 | Condo
 
1
Beds
1
Baths
1,150
SqFt
(21)
 
 
#72448897 | Condo
 
2
Beds
2
Baths
968
SqFt
(9)
 
 
#72479263 | Condo
 
1
Beds
1
Baths
651
SqFt
(15)
 
 
#72435948 | Condo
 
1
Beds
1
Baths
672
SqFt
(19)
 
 
#72446998 | Condo
 
1
Beds
1
Baths
813
SqFt
(8)
 
 
#72479890 | Condo
 
2
Beds
1
Baths
854
SqFt
(10)
 
 
#72475707 | Condo
 
1
Beds
1
Baths
1,026
SqFt
(26)
 
 
#72483448 | Condo
 
0
Beds
1
Baths
525
SqFt
(17)
 
 
#72470441 | Condo
 
0
Beds
1
Baths
537
SqFt
(10)
 
 
#72474423 | Condo
 
1
Beds
1
Baths
536
SqFt
(10)
 
 
#72474420 | Condo
 
1
Beds
1
Baths
533
SqFt
(10)
 
 
#72474409 | Condo
 
© 2019 MLS Property Information Network, Inc. (MLSPIN). All rights reserved.
The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.
MLS PIN data last updated at April 22, 2019 12:33 PM ET

Boston Seaport Condos for Sale under $1M

View Boston Seaport District condos for sale under $1M

Unlike other Boston condo brokers we give back 50% of our portion of the commission to YOU the buyer.

8 Results
2
Beds
1
Baths
854
SqFt
(10)
 
 
#72475707 | Condo
 
1
Beds
1
Baths
1,026
SqFt
(26)
 
 
#72483448 | Condo
 
0
Beds
1
Baths
525
SqFt
(17)
 
 
#72470441 | Condo
 
0
Beds
1
Baths
537
SqFt
(10)
 
 
#72474423 | Condo
 
1
Beds
1
Baths
536
SqFt
(10)
 
 
#72474420 | Condo
 
1
Beds
1
Baths
533
SqFt
(10)
 
 
#72474409 | Condo
 
0
Beds
1
Baths
532
SqFt
(10)
 
 
#72474415 | Condo
 
0
Beds
1
Baths
462
SqFt
(4)
 
 
#72431600 | Condo
 
© 2019 MLS Property Information Network, Inc. (MLSPIN). All rights reserved.
The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.
MLS PIN data last updated at April 22, 2019 12:33 PM ET

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