All over the country, but certainly in downtown Boston, renters should be thinking….rents Are rising should I buy this year?

But first you have to look at why you may be renting a Beacon Hill condo or Midtown condo in the first place. 

There can be any number of reasons a person chooses to rent vs. owning their own piece of Boston downtown real estate:

  • Freedom to transfer to another city quickly for job opportunities
  • Someone else pays the real estate taxes (and gets the deduction)
  • Credit issues or debt issues
  • Living in brand new apartment in the Seaport District
  • Lack of saved money for down payment  — and mis-information about how much that is

That is just some of the reasons you that I’ve heard in the past. But every year, you “roll the dice” as to how much your rent may go up. Maybe that increase keeps you from saving for that down payment? 

 Boston downtown real estate apartment rents are rising 

But when you purchase and own your Boston Seaport condo or Beacon Hill condominium, you obtain many benefits that you may not of thought of.

When you purchase a Boston condo for sale you write that mortgage payment you are working towards paying off your mortgage and building home equity. Not to mention, you get the tax deductions of the cost of purchasing the Beacon Hill home (your first year) as well as the property taxes you pay. 

So today, lets address head on what are some of your reasons for not buying a Boston downtown condo for sale.

Freedom to transfer to another city quickly for Job Opportunities

Ok, there is truth to that, but also in the current (2019) market with limited inventory, you may be able to sell your home quicker than you might think. There may be the possibility of renting your Beacon Hill condominium in case you think you may move back, or if it does not sell in a time frame you have established for yourself. 

Someone Else Pays the Boston downtown real estate taxes 

Yes, when you own a Boston Seaport condo, there are property taxes. But you can usually deduct those when you file your income taxes.  Also, the interest you pay on your mortgage is tax-deductible! 

Credit or Debt Issues

This can be a bit more tricky. But it’s not to say you can’t buy a Boston Charles River Park condo. Credit can be restored (over time) if you’ve had some tough times in the past. And when you get to a certain point, you can purchase, there just may be added costs like a higher interest rate. Debt issues can sometimes be easily fixed by just paying down, or off one credit account.

Living in a brand new Boston Seaport apartment

Depending on where you want to live in downtown Boston, this might be a real option. In recent years, and in the current market, there are new Boston luxury  high rise apartments being built in almost every corner especially in the Boston Seaport District. Now, what that monthly rent is…that’s the other story. So you may be living in an older apartment that has not had any recent renovations. But when you purchase a Beacon Hill home or condo, you may find one that has recently had a major renovation or at least have things like all new appliances. Much of this will depend on where you are looking to live, what you can afford, and what is on the market!

Lack of saved money for a down payment on Boston downtown condo

One of the biggest misconceptions for Boston downtown condo buyers, be you a first time buyer, or buying  your second or third home is the amount of money needed for a down payment. It is not 20% as many people think. Again, your situation will vary based on your credit and your debt to income ratio….but there are loan programs with as little as 3% down payment. By going through the application process, they can see what loan programs are available to you! 

Let’s get you started on the path to buying a piece of Boston downtown real estate and begin building your personal wealth.

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Boston Downtown real estate for sale under $2,000,000

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Author Profile

John Ford
John Ford

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.


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.


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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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