Buying a downtown Boston condo for the first time can be an overwhelming experience. It is most likely the largest purchase you will make. There is a steep learning curve, but it’s not insurmountable if you follow a few tips.
1. Take a hard look at your finances
Knowing how much you realistically have to spend on a Midtown Boston condo will mitigate much of the anxiety. When you have decided how much you want to spend, do your best to stick to your budget.
2. Know the TRUE costs of owning a home
If you’ve been renting for most of your life, you might not realize how much it actually costs to own a Boston condo. Take into account the monthly costs you will incur in addition to the mortgage, such as insurance, condo fees, and parking fees if parking isn’t offered with the condos Downtown Boston you’re looking at.
3. Lean on the expertise of family or friends
If you have homeowners in your network, take them out for a cup of coffee and pick their brain! Friends and family can be a fount of knowledge. Ask them what they wish someone had told them before they bought their first place.
4. Do your research
Get an idea of the prices in neighborhoods you like by looking at listings online. There’s likely a pretty wide spread depending on building amenities, upgrades, and views. Once you’ve narrowed down where you want to be, walk around the neighborhood. Find out where the nearest grocery store, drug store, and coffee shop are.
5. Get an expert to guide you
Once you’ve gone through these steps, you will likely want to get some expert advice. Research different Downtown Boston real estate brokerages and agents and find one that you feel will be an advocate for you in this process.
Buying a place can be nerve-wracking. Following these tips can help the process go more smoothly. The most important thing to remember, though, is to trust your gut. If a property or realtor doesn’t seem right, speak up.