Boston Real Estate for Sale

Earlier today I was speaking with a lender friend of mine, about Owner Occupancy Ratios and how they effect the purchase of a Beacon Hill condo. Yes, were that cool that we talk about this kind of stuff for fun. Before I dive into what I learned from this conversation, allow me to define Owner Occupancy Ratio (OOR).

The Owner Occupancy Ratio is the ratio of homeowners in a specific condo community who use their condo as a primary residence. For example, if your Midtown condo community has 100 units and 67 are owner occupied, you have a 67% OOR… seems easy right?

Where OOR can effect the purchase or sale of your Beacon Hill condo is in cases where the OOR drops below 51%. In these cases, the condo community now has more “non-owner occupied” units than “owner occupied.”

There are a lot of factors that come into play when you have a condo community under 51%, but the BIG TAKEAWAY from our conversation is that it DOES NOT limit your financing options if the home is your primary or secondary residence. Only if the purchase is your 3rd or greater property will a lower than 51% OOR effect you.

For more information about Owner Occupancy Issues, or purchasing a Beacon Hill condo in general, please feel free to contact us. We look forward to helping you find your condo here in Downtown Boston

Boston Condos for Sale Near Downtown Boston

 Boston Back Bay condos for sale 
Beacon Hill  Boston condos for sale
Charlestown Boston condos for sale
Navy Yard Charlestown  Boston condos
Dorchester Boston condos for sale
Fenway  Boston condos for sale
Jamaica Plain Boston condos for sale
Leather District Boston condos for sale
Midtown/Downtown  Boston condos for sale
Seaport District Boston condos for sale
South Boston condos for sale
South End Boston condos for sale 
Waterfront condos for sale 
North End condos for sale
West End  condos for sale
East Boston condos for sale

Back to homepage


Call Now