Buying your first place is a big step and it’s easy to get overwhelmed and hung up on things that don’t matter when you’re looking at condos for sale in downtown Boston. If you are starting the search for your first place, keep this checklist handy.

1. Decide If You’re Ready

It sounds obvious, but homeownership is a decades-long commitment. Before buying, decide if downtown Boston is the neighborhood where you can truly see yourself for the next 5 to 10 years. Also consider the stability of your job and if you have enough in the bank for additional costs that come with condo ownership.

2. Know Your Must-Haves

If you don’t like DIY projects or don’t have a budget for renovations, skip the fixer-upper, no matter how charming it is. When you start looking at downtown Boston high rise condos, you’ll likely find other things you want, but don’t confuse want with need. You want to be closer to amenities, but you need an outdoor space for your pets.

3. Determine Your Realistic Budget

Beyond the down payment and the mortgage, take into account insurance, repairs, and other miscellaneous ownership costs that can arise. A general rule of thumb is to save 1 percent of the purchase price each year for an emergency fund.

4. Get Preapproved

Getting preapproved first can really come in handy when you’re ready to submit an offer, it can even prevent you from missing out on your dream place. Some sellers won’t even consider an offer if the buyer hasn’t already been preapproved because that means the funds for the mortgage may not come through.

5. Find an Agent

Don’t go into the house hunt alone. Assemble a quality team of professionals, from your downtown Boston real estate broker to loan officer, who you can trust and feel comfortable communicating with. They will be essential during your search.

Find an agent to represent you during your hunt by calling us at (617) 720-5454 today. We specialize in downtown real estate including lofts, condos, and penthouses in Beacon Hill.

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