Buying a Boston Beacon Hill Condo in 2022

Boston Real Estate Search

Buying a Boston Beacon Hill Condo in 2022

With first-time Boston condo buyer wading into such a feverish Boston condo for sale market, its important for Boston Beacon Hill condo buyers to set expectations upfront. That includes bracing yourself for potential bidding wars , but also asking probing questions about what truly matters to you, and where you might have some flexibility on a Boston Beacon Hill condo for sale. It can be really overwhelming and sometimes a little discouraging right now, with high asking prices in 2022 and low inventory stock.

Boston Beacon Hill Condo Buyers Need to Set Proper Expectations

Setting realistic expectations is key, agrees Alexander Jean-Baptiste, in-house Realtor for the Massachusetts Affordable Housing Alliance in Boston. “We can’t tell the future, but I like to tell my buyers, based on what you’re asking for here, this may take a while,” he says.

But first-time buyers can also get discouraged by stories of bidding wars and rising prices. So Beacon Hill home buyers need to tune out those distractions and to focus on what’s within their control. A first-time buyer has to ignore that noise and get themselves into the best situation they can, whether it’s working on their savings goal, whatever number that is, or working on their credit.

Beacon Hill Condo Buyers and Good Credit

Maintaining a strong credit file and increasing cash reserves has never been more important, for potential Beacon Hill condo buyers. Another variable that buyers control is what type and price of home they’re targeting. With so little inventory, there’s heavy competition at virtually every price point in the Boston condo for sale market. But it is even worse when first-buyers are looking for properties below $500,000 — especially when they are competing with cash buyers. That’s why its essential to maintain good credit and have a pre-approval letter readily available when placing an offer