Earlier today I was speaking with a Josh, a lender friend of mine, about Owner Occupancy Ratios and how they effect the purchase of a Downtown Boston real estate in particular Boston condos for sale. Before I dive into what I learned from this conversation, allow me to define Owner Occupancy Ratio (OOR).

Owner Occupancy Ratio (OOR)

The Owner Occupancy Ratio is the ratio of homeowners in a specific Boston condo community who use their condo as a primary residence. For example, if your condo community has 100 units and 67 are owner occupied, you have a 67% OOR… seems easy right?

Where OOR can effect the purchase or sale of your Downtown Boston real estate is in cases where the OOR drops below 51%. In these cases, the condo buildiong now has more “non-owner occupied” units than “owner occupied.”

Boston condos for sale under 51% OOR

There are a lot of factors that come into play when you have a Beacon Hill condo building under 51%, but the BIG TAKEAWAY from our conversation is that it hurts getting financing but you do have financing options if the home is your primary residence. Only if the purchase is your 3rd or greater property will a lower than 51% OOR effect you. 


For more information about Owner Occupancy Issues, or purchasing a Downtown condo in general, please feel free to contact us. We look forward to helping you find your dream Boston downtown real estate home.

Boston downtown real estate for sale under $2M

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