5 tips how Boston condo owners can save money
If you are the proud new owner of a new Boston condo owner , in one of the most attractive condo markets in the United States. There’s also a chance the closing costs and moving expenses have left you with a pretty tight budget. If this is the case, your best course of action should be to focus on rebuilding your savings as soon as possible. Here are seven ideas to help you save money soon after moving in.
1. Use Energy-Efficient Light Bulbs
The best time to install LED light bulbs is right after you move into your new Boston condo. Depending on your electricity usage patterns and the number of light fixtures, you could see savings between $2 and $4 per month on your monthly power bill.
2. Save Your Spare Change Efficiently
Shoppers who constantly use their debit cards for purchase transactions should check with their banks about options to automatically collect and deposit their spare change. Look into mobile apps such as Acorns and Digit, which can also turn spare change into investments.
3. Draft a Budget and Stick to It
If your household expenses take up more than 45 percent of your net income, building up your savings account may prove to be difficult. The ideal way to adjust your spending is to create and follow a budget that allows you to see where your money is going.
4. Keep an Eye on the Real Estate and Mortgage Markets
Even if you are locked into a conventional 30-year fixed-rate mortgage, there may be a chance of a better financing deal down the line. If the sellers’ market conditions continue for downtown San Diego condos, you may be able to refinance into an interest-only mortgage for less than two years before you sell your unit, which will reduce your monthly payments as the value of your property appreciates.
5. Minimize Air Conditioning Usage
Take advantage of Boston’s summer climate to minimize the use of your central air conditioning unit. The first step is to install a smart thermostat and make sure the A/C unit is in good shape. Next, you may want to invest in ceiling fans that circulate fresh air coming from open windows. The idea is to avoid having to turn on the cooling unit all the time.
Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs
In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.
For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.
Charles River Park
Surrounding Communities of Boston
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.
Ford Realty Inc
137 Charles Street
Boston, Ma 02114