First, you’ll need to understand the costs of buying a Boston condo. So you’ll need to save your money for your paycheck.
Next defining your Boston condo goals, criteria and preferences.
But for the purposes of today’s Boston condo blog posts lets discuss the money you’ll need to have to save up to buy a Boston condo.
- Down payment. The down payment normally ranges from 5 -20% of the purchase price. However there are programs with zero to 3% down payment if you qualify. Regarding the down payment its possible that if you’re first time home buyer you can obtain a gift letter from family member to assist in your down payment.
- Another cost to keep in mind is the home inspection. This price can vary from as little as a couple hundred dollars to $1,000 plus depending on the size of the home you’re buying.
- Home appraisal this is required by the bank to obtain your mortgage. The costs can range from $500 – $1,000
- Overall you’ll be looking at miscellaneous closing costs which can run about 3% of the price of the home
At a future date I’ll discuss in more detail more about each of theses steps.
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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.
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.
Charles River Park
Surrounding Communities of Boston
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.
Ford Realty Inc
137 Charles Street
Boston, Ma 02114
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