Before leaping head-first into the market, looking to buy one of the condominiums for sale in Boston, first answer the following questions, just to make sure you are ready for the commitment.

Why do you want to buy?

If you think it’s “that time of your life” when you should become an owner of one of the Boston condos for sale, it may not be the right time. There are many factors to take into consideration, not just age.

However, if owning a Boston condo has been a desire and a necessity for a long time, and your financial situation is such that it allows for a larger investment, you might be ready to take the first step. Which brings us to the next question.

Have you had your job long?

Financial security and solvency stem from a steady job. If you’ve only had your current job for about a year, don’t rush into buying a Boston condo. You need job security, and a year is nowhere near long enough. Unfortunately, last one hired is always the first to go if a company has to trim back.

Nobody can safely say what amount of time on a job can guarantee security, if there is even such a thing in today’s business conditions. But, anything more than four years can be considered quite stable. So, if you deem your current job position as stable as possible, it may be time to start planning a move.

Do you plan to keep your job?

Unless, that is, you want to switch jobs. If the answer is yes, then it is definitely not the right time for you to consider looking at houses for sale in Boston

If you are in any way dissatisfied with your current job, and there are even lingering thoughts of a change, buying a property is not the way to go. You simply cannot be certain of the location or the pay of a new job. Best put the decision off until you are comfortably settled in and completely satisfied.

How’s the credit?

In order to become a Boston condo owner, it is much easier to do so with good credit score. Few people can afford to buy homes without a mortgage, and the better the credit score, the lower the mortgage.

If you haven’t been interested in your credit score, you need to find out as quickly as possible. You might even want to consult a professional, if there are any issues that need to be resolved. Request a free credit report, and proceed from there.

Have you got the 20?

Even if you do not possess the necessary funds for the regular 20% down payment, there are options to consider. However, costs of a down payment lower than the usual 20% are higher, so consider them before reaching a decision.

Wiping out your savings account to make the down payment can help eliminate mortgage insurance, and lower the loan cost. But, that leaves you high and dry for any unforeseen circumstances, and nothing guarantees you will be able to replenish the account.

Consider your options carefully, and see what makes sense financially. You can always opt for a cheaper home, one that would be more suitable for your existing financial situation.

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Author Profile

John Ford
John Ford

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.


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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.

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



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