Here’s a Boston condo buyers story which I think a lot of Millennial’s will be able to relate to:

I’m a pretty typical millennial. I dye my hair purple. I have a Harry Potter tattoo. I drive a Prius.

But in one way, I’m atypical for my generation: I just bought a Boston condo for sale

Just a year ago, data showed the median age of people buying houses was on the rise, and likely to continue going up.

In downtown Boston, though, things will be different. Rents are rising and scores of people are moving to the city. That’s driving rents up, which will encourage millennial’s like me to buy Boston condos for sale.

Many in my generation are burdened with student loan debt and even as Beacon Hill apartment rents rise, will be unable to afford to buy a downtown Boston condo. When you ask housing experts why millennial’s don’t buy homes, student loan debt is the most common reason they give.

A growing number of Boston millennial’s are working for the tech industry, however, which tends to pay well and could help mitigate the issue of debt.

I’m 24 years old, smack dab in the middle of the millennial generation, and today I’m signing final papers on my first Boston condo.

More millennial’s will join me. As my generation ages and rents continue to skyrocket, Boston’s already-crowded housing market is about to get seriously intense.

Yes, I was attracted by the historically low interest rates and the freedom of getting to tear down and paint my walls in my Boston condo

But the single biggest thing that convinced me it was the right time to buy was the jump in Beacon Hill apartment rent prices. The rent on my one-bedroom apartment in Beacon Hill went up nearly 5 percent in September, and that’s happening across the city.

Data from Seattle online real estate company Zillow (Nasdaq: Z) shows rents in Boston increased in the last year to a median price of $2,210 per month. For many millennial’s, that’s downright unaffordable.

I began my home search online, scouring Zillow and Redfin listings. Then I realized I had no idea what I was doing so I enlisted a knowledgeable Boston real estate agent to take me through the (many) twists and turns of buying a Boston condo

I’m not the only person of my age jumping into home ownership — the rate at which homes are flying off the Boston real estate market suggests that other millennial’s are getting in on the action.

The two biggest reasons people decide to buy homes are when they get married and have children, and millennials are just getting to the age when they hit those milestones.

But as the rents continue to rise, and our generation hits some big milestones, Boston millennial’s will buying Boston condos for sale in herds.

Click here: Back Bay luxury condos for sale and sales data

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Author Profile

John Ford
John Ford
EXPERIENCE

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.



HISTORY

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.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
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.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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