Renting Versus Buying A Back Bay Condo

Pride in Owning Bay Bay condo: 

Most people buy Back Bay condo for sale to have control over where they live. Although investment features are important, the psychological reasons for buying— the satisfaction of owning and freedom from paying rent—are at least as important.

In a survey done by the National Association of REALTORS® of 6,000 homeowners and 2,000 renders—perhaps the largest survey ever of attitudes toward home ownership—it was shown that 76% of owners and 66% of renters considered pride of ownership an important reason for buying.

Dislike Paying Rent:

Close to 7 in 10 of almost equal portions of owners and renters expresses a dislike of paying rent as an important reason to buy. Renting offers a lifestyle that’s nearly maintenance-free. That may appeal to you, but consider that renting offers you no equity, no tax benefit, and no protection against regular rent increases. Writing a rent check is just like watching your hard-earned money sail away!

Settling Down: 

More than 6 in 10 renters said “settling down” was an important reason to buy.

Good Investment: 

76% of owners and 69% of renters said that the investment aspect of ownership was important.

Tax Advantages:

Property taxes and qualified home interests are deductible on Schedule A, for itemized deductions.

Long Term Appreciation:

People consider homeownership a good investment because they view it as a long-term venture. Historically, home prices have risen at relatively steady rates. Existing home prices rose an average of 4% per year between 1980 and 1992.

Leverage Investment:

People borrow a great deal to buy homes, yet they receive the full benefits of price appreciation. In the long run, investments in homes far outpace inflation rates.

Source of Savings:

Homeownership always has been and continues to comprise the single largest source of savings for American households. Homeowners build equity and can borrow against it.

Sacrifices are worth it:

Almost 7 in 10 renters in the National Association of REALTORS® homeownership survey said that they planned to buy a home in the future. More than three-quarters of these people said they were willing to sacrifice to do that.

Back Bay condos for Sale


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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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