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Boston real estate for sale: 3 benefits of owning a Boston condo

There’s no denying the financial benefits of homeownership, but what’s often overlooked are the feelings of gratitude, security, pride, and comfort we get from owning a home. This year, those emotions are stronger than ever. We’ve lived through a time that has truly changed our needs and who we are, and as a result, homeownership has a whole new meaning for many of us.

According to the 2021 State of the American Homeowner report by Unison:

“Last year, staying home became a necessity and that caused many homeowners to have renewed gratitude for the roof over their head.”

As a nation, we continue to work through the challenges of a pandemic that’s pushed us all to new limits. Over the past year and a half, we’ve spent more time than ever at home: working, eating, schooling, exercising, and more. The world around us changed almost overnight, and our homes were redefined. Our needs shifted, and our shelters became a place that protected us on a whole new level. The same study from Unison notes:

  • 91% of homeowners say they feel secure, stable, or successful owning a home

  • 64% of American homeowners say living through a pandemic has made their home more important to them than ever

  • 83% of homeowners say their home has kept them safe during the COVID-19 pandemic

It’s no surprise this study also reveals that homeowners are now more emotionally attached to their homes as well:Home Is Where the Heart Is More than Ever This Year | Simplifying The MarketAs we’ve learned throughout this health crisis, homeownership can provide the safety and security we crave in a time of uncertainty. That sense of connection and emotional stability genuinely reaches beyond just the financial aspect of owning a home. As JD Esajian, President of CT Homes, LLCsays:

“Aside from the financial factors, there are several social benefits of homeownership and stable housing to consider. It has long been thought that buying a home contributes to a sense of accomplishment. Still, most individuals fail to realize that homeownership can benefit your mental health and the community around you.”

Whether you’re thinking of buying your first home, moving up to your dream home, or downsizing to something that better fits your changing lifestyle, take a moment to reflect on what Mark Fleming, Chief Economist at First American, notes:

“Buying a home is not just a financial decision. It’s also a lifestyle decision.”

Bottom Line

If you’re considering buying a home, it’s not entirely about the dollars and cents. Don’t forget to weigh the non-financial benefits that may truly change your life when you need them most.

 

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Boston Real Estate for Sale 

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Boston real estate for sale: 3 benefits of owning a Boston condo

Updated 2021

In today’s Boston real estate blog post the topic will be: Boston real estate for sale: 3 benefits of owning a Boston condo

The number of people who have asked me for help evaluating their properties throughout my life is probably higher than I care to confess. My real estate endeavors began as a broker in 1994, over 27 years ago, divulging just how old my career in real estate is (and how old I am).

A few weeks ago, I tested positive for Covid-19, which completely transformed my life. A friend recently inquired about the value of their property, which I usually respond to by weighing a few criteria and providing a numerical estimate of the home’s worth. Instead, I found myself on the verge of tears. 

Boston Real Estate = Private Shelter

Covid-19 gave real estate professionals an opportunity to remember the importance of homeownership from a more personal perspective. Do you recall returning home after a long vacation and inhaling as much air as your lungs could take before letting out a loud sigh? You’re at ease. You’re at home. You have a sense of security. Your home is your shelter to share all emotions, from the most incredible happy moments to the stressful, sad situations.

Owning a property has made me feel safe. Home is where I eat, cry, laugh and love. It was easy for someone who is so used to putting a numerical worth to properties to forget the great importance of homeownership as a private shelter — this year was a big reminder.

After a year where the entire planet experienced the importance of having a place to call home, it is of crucial importance that real estate professionals provide exceptional service to their clients. Home is your best place to reset and continue.

Boston Condo Rental Income

Another reason to get into real estate is purchasing with the idea to rent. Buying a home with the goal of renting it out on a monthly basis can be a very profitable financial strategy.

In my case, it has given me a greater sense of financial security. I rent to people I know and trust, and I make sure they’re encouraged to personalize the place. Everyone, whether they live in a rented or owned property, deserves to feel at home. Tenants are protecting my property, and they should be treated with respect so they can feel like part of the refuge.

While a rental real estate investment can be a fantastic method to increase your wealth, there are a few things to consider for it to work effectively. Understand the property’s expected return on investment (ROI), as well as the current housing market and your ability to keep it rented out.

If you’d rather entrust this task to a professional, there are a wealth of outstanding real estate experts who can assist you in better understanding each factor. The goal is no vacancies; stop the greed, and keep it rented.

Boston Condos Job Creation

I am a naturalized United States citizen and an incredibly grateful one. I value the American dream and have worked hard over the years to create opportunities for others. 

Every time someone buys a home, a team of professionals comes together to make the process as easy and pleasant as possible for you. Thanks to the purchase of your home, jobs are preserved or created, and the American economy helps countless families continue to thrive. 

Purchasing a property is a win-win situation in which someone enjoys home stability and everyone involved gets compensation for their hard work. I’m not suggesting that anyone buy a home to create jobs, rather, I’m pointing out that the social dynamic of homeownership allows for job creation to continue.

These are just a few distinct rational and emotional reasons I strongly encourage people who can afford to purchase a property to do so. At the end of the day, whether you’re doing it to increase your wealth or gain peace of mind, the purchase of a property is often the most expensive purchase a person makes in their lifetime. It is important to be crystal clear about why you’re doing it and understand the risks involved in the process. Contact your local real estate professional if you need further assistance.

 

Click Here to view: Google Ford Realty Inc Reviews

Boston Condos for sale Sale and Rent

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Boston real estate for sale: 3 benefits of owning a Boston condo

1. Real estate diversifies your income

“While it is certainly important to be properly diversified with your investments, it is even more important to be diversified with your income. This is because the largest financial risk for most of you is the loss of your primary source of income, which is typically in the form of a day job.”

The article highlights how having multiple sources of income, such as those derived from Boston real estate investments, can eventually lead to relying less and less on a day job. Sound dreamy? It can be. When done well, Beacon Hill condo investments may eventually open up your time and the financial freedom to explore other things, like travel and other aspirations you may have for the future, particularly in the golden years of retirement.

2. Real estate produces near-immediate results

“You can achieve and feel the results almost immediately. Property improvements are visible and tangible. You can cash, spend, and invest rent payments. Today! Not 30 years in the future.”

Currently, home prices are appreciating in all price ranges, and just last week CoreLogic announced their 12-month home value projection at 5.6%, an increase from 4.5% noted earlier this summer. With that in mind, real estate today is definitely driving immediate results!

3. Passive income can help you become financially independent sooner

“If you need $40,000 a year to live, you could alternatively invest in assets that generate an 8% cash-on-cash return. This is a very reasonable assumption. And it means you would only need to save a total of $500,000 (instead of $1 million). Yet, your investments would still meet your annual household living needs.

While returns, taxes, and inflation can, of course, affect your timeline, cash-flowing real-estate is a clear asset.”

Boston Midtown condo ownership is a form of ‘forced savings.’ Every time you pay your mortgage, you’re contributing to your net worth by increasing the equity in your home, bringing you one step closer to true financial independence.

Bottom Line

If you want to increase your savings and overall net worth, Boston real estate is a great way to go. To learn how you can make it happen, let’s get together to discuss the process.

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Ford Realty – Boston Real Estate Google Reviews 2019, 2020 and 2021

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