The price of your Boston condo is determined by weighing a variety of factors. In an area where space is tight and the market moves rapidly, condominiums are often priced according to the square foot of living area and their location in relation to shopping resources and schools. There are several other factors that are important in this process as well. Boston condo agents price homes according to comparable sales in the same Boston high rise condo neighborhoods that are relatively close in size and design. Here are the most important things that will impact the price of your Boston real estate:
BOSTON CONDO SQUARE FOOTAGE
As stated above, the most obvious factor impacting the price of your Boston condo is the square footage of the condominium. The average high rise condo in Boston is around 2000 sq feet. Extra bedrooms and living space are highly sought after. The more useable the layout of the Boston condo, the higher the price per square foot. Large kitchens and extra bathrooms or master bathroom suites tend to add even more value. Finally storage space such as walk in closets are considered a luxury feature afforded by the extra square footage.
BOSTON CONDO LOCATION
Location plays a huge role in determining home price. The neighborhood and nearby condo set the bar for home values in the area, but many buyers also consider the distance from public transportation, shopping and quality restaurants. The more convenient the condo is to major interstates and other important resources, the higher the price goes. On the other hand, being in the vicinity of airports or poor schools can drive prices down.
Boston is known for its historic neighborhoods like Beacon Hill and Back Bay so real estate located near these destinations may be much more expensive than other locations farther outside Boston proper.
BOSTON CONDO CONDITION
Obviously, the better the Boston condo building and unit is cared for, the more it will sell for. Common signs of wear and tear like worn down carpet or an aging roof can drop the price. Even a fresh coat of paint can boost the value and appearance of the home overnight. Remember, maintaining a home well includes taking care of the exterior. If the exterior of the condo building has grown out of control, the home will automatically show for less. is a big selling point of your home, and maintaining it is important for determining the listing price of your home.
BOSTON CONDO AMENITIES
There are some amenities that boost value every time, while others are less likely to pay off. For instance, new energy efficient appliances in the kitchen or an oversized bedrooms are beneficial. Other popular amenities include common or private roof decks, indoor parking, permanent storage in the buildings, and other add-ons that may not be available in other real estate options.
As you shop for your dream Boston condo for sale or prepare to sell your own Boston high rise condo, keep in mind that these above factors will go a long way toward determining the price of the home.
If you’re thinking about selling your Boston condo, call us at 617-595-3712.
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