Let’s answer some of the most difficult questions that plague potential buyers in the real estate Boston condo market.

Can I afford it?

In order to get an educated answer to this question, it is not enough to simply check your bank balance. Rather, you need to meet a mortgage professional. He or she will ask a lot of financial questions, helping you to get a clearer image of your financial situation.

You need to know what mortgage you can afford, as well as how much money you actually want to spend on a property. What’s more, a mortgage professional will help you get pre-approved for a loan. Your offer for a Boston condo for sale always looks stronger when backed by a bank.

How many properties to look at?

The first suggestion provided by a realtor is to determine the home/condo value range you can afford, and then list all the homes in that range. Then you can take a look at all the Boston condo, and make a sort of pro-con list for each one. So, the number can never be exact, as it depends on your financial situation and personal preference.

Should I have it inspected?

The answer is always yes, as open houses provide only a superficial look into the state of the home you are interested in. Who knows what lurks beneath the hardwood floors and marble countertops.

However, an inspection is necessary only when you have your heart set on a particular Boston condo. It would be a gigantic waste of money to inspect several homes throughout the buying process. Narrow down your options, then inspect thoroughly.

How much of a deposit do I need?

It is a general rule of thumb that all buyers should have a 20% deposit in order to buy a Boston condo. This is not always the case. Banks do prefer the 20% deposit margin, but they are also willing to provide loans to people who have smaller deposits. And with newly instated relaxed restrictions, more people will get the opportunity to secure a home with a 10-15% deposit.

How long is the process?

Luck, effort, and financial situation all factor in when it comes to finding the perfect home. There are people who find their dream homes within two or three months of beginning their pursuit. Others can spend a couple of years rummaging through the Boston real estate market. There are simply no rules, the market is competitive, but never allow yourself to get disheartened.

Why hire a real estate agent?

Some people like to go it alone, and it is a commendable quality, but one that could cost you in the competitive Boston real estate market. Buying a Boston condo is perhaps the biggest purchase you will ever make. The process is always overwhelming, but it gets easier if there is a trained professional at your side, ready to answer questions, provide guidance through the process, and ease all the worries. Always hire a real estate Boston agent. They will make your life easier.

No one knows Boston condo market better than us!

Bostonluxurycondosforsale.com is among the best and most trusted real estate agencies in the Boston area. We can help you find the perfect home to fit all your needs, and within budget too. We provide the expertise, experience, and the enthusiasm, and we guarantee results. We’d love to lend you a hand.

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

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