For you newly weds, or for those couples who are thinking about buying a Boston condo for the first time together, I think yo’ll find this interesting.

Let me tell you, buying a Boston condo as an individual is much different from purchasing a condominium with your spouse or fiance.  That probably holds true for buying a property along side anybody when both people, including yourself, have a high emotional stake in it. But for the sake of this post I am going to talk about purchasing with a spouse or fiance.

The fianace route probably being even tougher because it means it is probably the first time you go through it together and you may discover that you have very different ideas.

Having another person with huge emotional interest and their own pre-conceived notions of what qualities they would like to have in their Boston condo is a huge challenge.  If not planned for properly, it can cause a large amount of stress.

Here are a few items you should keep in mind when purcahsing a Boston condo together:

1.  Family – How many kids are you going to have?  When?  Will they each need their own room or can they share?  Does there need to be a room near the master for when you have a baby?  These are all key questions that you may want to think about.  They also may partially be dependent on your time frame, needs for a specific school system, and lifestyle, which are all discussed below.  The fact is that so many of these questions are interdependent on each other, which is why it is primary you take the time to sort through it all.

2. Schools – If you plan to have children what schools will you want them to go to?  Are there certain school districts that you prefer and others that your refuse to send them to? If you buy in Boston should you consider private school? If so, how will this impact your budget?  How will that affect the kind of property you can purchase in said neighborhood?  If you are going to have to make a lifestyle change in order to be in a particular school district is that something you are ok with?  Or do you purchase in an area you want to live in before you have children and just plan on selling when it comes time to send them off to school?  Or maybe  they will be going to private school.  Again, you see how interdependent all of these questions are.

3. LifeStyle – This is where it all becomes very complicated because your desire for a particular lifestyle may not be congruent with the type of environment you want to raise a family in.  Are you going to want to live in an urban center like Downtown Boston or are you going to want to be in the suburbs.  Is space or location the most important factor for both of you?  Is the answer to that question going to change once you have kids?

4. Time Frame – How long do you see yourselves staying in your new Boston condo?  Is it a place you are going to grow old in or is it a place you are going to live it up in for  few years and then move out?  When you do move, would you want to keep the it as an investment property and rent it out or would you like to sell and take the equity with you?  Maybe you’re not even the type to plan so far ahead but your partner is.

5. Finances – This one is really tough.  Your idea of what one should spend on your housing and your partner’s idea may be completely different.  This is an important conversation you are going to want to have early and come to some kind of agreement on.  My recommendation is that you lean to the side of the more conservative of the two of you.  The reason being that you don’t want either of you being stressed out.  Stress will start hurting your relationship in more ways than one so it is best to find each other’s comfort levels and make sure that they are respected. By the way I’m not a part-time marriage counselor, so that’s a far as Im going with that one.

When you go through this exercise with your loved one there are probably a few things that are going to happen.  You are going to find out that you agree on some things and totally disagree on others.  Don’t let this discourage you.  Remember that you fell in love not because of the way he or she views interior decorating but because of all of the other wonderful qualities that they offer.  It is only natural that this process is going to bring up a few differences.

Be open, totally honest, and look to understand what each of you is looking for and I guarantee there is a way to satisfy both your goals.  It is best that you go into it with your eyes open.  This way you will avoid what I did not, which is to spend months looking for the wrong thing.  The time you spend talking this out will be be a great investment in more ways than one.

Feel free to share stories, ask questions, or add to the list of recommended conversation topics people buying together for the first time.

Contact me to set up an appointment to start your Boston condo buying process.

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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.

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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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