Boston condos for sale guide: 2019 edition
Downtown Boston is known as condo friendly environment, buying a Boston condo for sale for those who need a home here without all the responsibilities and costs of a single-family home or town house. If your lifestyle is more focused on work and play than on replacing a roof or taking care of a lawn, you might enjoy the carefree Boston Beacon Hill condo lifestyle. Condos can also be fantastic green living choice. Your footprint is much smaller and you are often in walking distance to shops, restaurants, and potentially even your office.
Downtown Boston condos are on the move, are you ready to buy? Here’s our Boston downtown real estate buyers guide to getting into a Boston Midtown condo this year.
Are you ready to buy a Boston condo for sale? Are you ready to live in a tight knit condominium community? The word “condominium” was created from the Latin con- (“together”) together with the root word for “domain”. It literally means “shared property”, because though everything inside a condo is yours, the roof, exterior walls and everything outside (generally speaking) is the property of the condo association. By purchasing a condo, you’re joining in a common agreement to maintain the entire property (be sure to read all the paperwork, each complex is different). For most people, this is a benefit — your participation in the decision-making process is voluntary, but needed maintenance happens either way.
Obtain an experienced Buyers broke who specialized in Boston condos for sale.. Buying a Beacon Hill condo or townhouse, in downtown Boston is different than buying a detached single-family home. Boston midtown condo transactions must take into account the added rules and restrictions of the homeowners or condo association. You’ll want someone on your side who is experienced in both the buyers’ and sellers’ end of the sale. They can direct you to the home inspectors, lenders and other industry professionals who also understand the particularities of condos — saving you a lot of headaches and potential extra costs.
Research the Boston Condo Association
Research the condo association. Just as homes themselves have quirks and hidden costs, so do homeowners’ associations. Examine the organization’s bylaws and old meeting minutes. How quickly are decisions made? Are the rules being enforced? Most importantly, ask for the most current financials, and check to see if the condo association has enough in reserve to cover unexpected costs.
Don’t buy a Boston condo for sale to flip. The risk is very high — but that doesn’t mean it couldn’t change as downtown Boston population grows. Many people love condos and enjoy the urban lifestyle they offer. For now, though, condos in Boston midtown condos are a better investment for those willing to hold on to them for five or more years.
Budget accurately. Compared to a single-family home, condos overall cost slightly less to live in. Up front, they typically cost less to insure, are more efficient to heat, and pay less in property taxes because they tend to be smaller than homes with similar amenities. On the other hand, you’ll want to look carefully into the condo fees and what they cover.