Beacon Hill condos: Everything you need to know

by | | Boston condos

Boston Beacon Hill condos

As Boston Beacon Hill home market continues to rise in terms of price, competition, and home scarcity, prospective homeowners are starting to consider other options. These days, buying a condo in downtown Boston is trending, as buyers are searching for where they can get the most square footage for their money.

If you’re weighing the pros of condos versus homes in Beacon Hill, there are a few things you should know. What are the advantages of condo ownership? Will buying a condo instead of a home really save you money in the long run? Let’s take a look at exactly what Bostonian’s need to know about buying a condo.

Starting With Basics, What Makes Condos Unique?

We all have stereotypical ideas about Boston Beacon Hill condos. Some of these preconceived notions are often true, such as most condos share walls with other units, and many condos require condo fees. But these quirks do offer benefits.

Often, shared walls mean lower prices, saving condo owners money on the cost per square footage of their Beacon Hill home. Likewise, condo fees owners receive other cost breaks like lower utility bills and lower property taxes, again saving the condo owner money in the long run.

But are these saved costs enough to offset the value of owning a regular detached home? Let’s dig in.

Talking Numbers With Boston Condos

It’s becoming increasingly difficult for the average family to afford a home in downtown Boston, as most homes sell for well over two million dollars. But with condos, there’s still ample opportunity to save hundreds of thousands of dollars (if not millions) buying a new home.

Pros and Cons of Buying a Condo in Boston

Buying a Beacon Hill condo is a smart move in the world of Downtown Boston real estate. Whether or not buying a condo makes sense for you, depends, of course, on your needs.

If you’re looking to flip your residence quickly, you might want to opt for a property that’s going to skyrocket in value. But if you have a busy lifestyle and you’re eager to forego tasks like weeding, raking leaves, and maintaining property, a condo is an ideal home choice.

In either situation, here are a few general pros and cons of condo ownership that you should consider:

Pros: If you’re planning to stay in Boston for at least four years, it might make sense for you to invest in buying a condo. As Boston’s rents rise and rental availability shrinks, mortgage rates remain low.

If you’re on a tight budget, or you’re a young first-time buyer, a Beacon Hill condo is a great way to break into the real estate market and start building equity. You’ll spend less up front, compared to buying a home. And you’ll be spared many potential maintenance costs that are associated with owning a home — remember, unforeseen re-roofing and plumbing fails won’t fall entirely on you as a condo owner.

Cons: While real estate, condos included, doesn’t tend to lose value in Boston, the demand for a single-unit detached home still ranks higher than the current demand for condos. This means that buying a condo won’t yield the same exponential growth in market value that a home might.

However, it also means that, “there are still a number of condos on the Portland market that are a decent buy.”

Think Outside the Box

Like we said, gone are the days of “one-size-fits-all” cookie cutter condos. Today, condos feature high-end design and reflect modern architecture standards, such as the newly constructed Boston Midtown condos. Some have sweeping floor-to-ceiling windows, day-lit staircases, and skylights aren’t just for traditional homes. Condos, too, can boast upscale finishes and swaths of natural light you’re looking for.

If you’re searching for traditional home amenities, but you can’t swing the price tag of owning a home, it’s time to expand your search, for more information contact us realtyford@yahoo.com

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

Comments

comments

Call Now

Privacy Policy - Terms and Conditions