Here are 5 benefits of buying downtown Boston real estate. Before I jump into them here is some good news for Midtown condo buyers, median prices have stabilized after years of steady increases, and lower interest rates are making things easier and more affordable for mortgage applicants. While these two factors are certainly encouraging for Midtown condo hunters looking for deals in downtown Boston, the downtown Boston real estate staff at Ford Realty offer even more reasons to sign a purchase contract now.
If you’re familiar with the “renting versus buying” debate, you probably know there will never be a definitive resolution. The Boston real estate economy is too complex and dynamic for a simple answer. Certain factors must be taken into consideration, particularly with regard to rental demand. In recent years, downtown Boston has ranked as one of the most expensive housing markets for renters, thus making it more attractive for buyers. Combining this factor with lower mortgage interest rates makes it easy to determine that for many people, purchasing a Boston midtown condo is a better financial option than renting.
In an effort to attract Boston condo buyers in a highly competitive market, Midtown condo developers have been focusing on providing top-notch amenities. For example, many Boston high rise condo residents have access to a 24-hour fitness center that competes with upscale membership gyms in downtown Boston, and this amenity is augmented by underground parking, an upscale clubhouse with a kitchen, swimming pool, spa, and even a private decks
According to the United States Bureau of Labor Statistics, the July 2019 unemployment rate in Boston was just 3 percent, lower than both the state and national averages.
For homebuyers who plan on settling in downtown Boston, quality of life should be the most important reason. According to U.S. News and World Report, Boston is one of the top 40 best places to live for American families. When compared to other large metropolitan areas, Boston ranks near the top in terms of quality of life.
All property owners are real estate investors at heart. When you purchase a Boston midtown condo, you’ll benefit from the dynamics of the current housing market, which include high demand and greater property value appreciation. Keep in mind downtown Boston attracts retirees, families, single professionals, and seasonal residents alike. They all like the high quality of life plus the convenience of living in a city blessed with great weather and a strong economy. These factors will be in your favor when you decide to list or rent your condo in the future.
Boston real estate buyers have a wealth of fantastic options when it comes to finding the ideal condo in the downtown area of America’s Finest City. If you need help choosing among the wide variety of amazing downtown Boston condos for sale, call Ford Realty at 617-595-3712. We’ll help you find the home that’s just right for you and your family. Give us a call today.
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