Without a doubt, the hardest part of purchasing condominium in downtown Boston is coming up with the down payment. If you would like to buy a condo in Beacon Hill sometime in the near future, getting over that down payment hurdle is going to be your biggest challenge. With that in mind, here are ways you can save money for a down payment while still renting.

1. Live with a Roommate

This is a simple step that can have a huge impact on your finances. Rather than renting a downtown condo in Boston, find a roommate that can pick up a portion of the rent. The money that you save by living with a roommate (or two) can be set aside for a down payment when you are ready to buy.

2. Cook More Often

In downtown Boston, you’ll find a delicious restaurant on almost every corner, with more springing up every month, but going out every night can really damage your budget. If you are willing to cook in more often, the savings will start to add up almost immediately.

3. Forgo the Car Payment

If you currently live in a condo in downtown Boston and work in the area, you can probably get by without a car. While it can be scary giving up the freedom of having your own car (at least for us west coasters), forgoing car ownership can save hundreds of dollars per month that you can use to buy the property of your dreams instead.

4. Work a Part-Time Job

In addition to your full-time employment, consider taking on a part-time job to raise extra money for a down payment. While working more might not sound so fabulous, if you can put up with working extra hours for now, you’ll be a Boston Beacon Hill condo owner sooner than later.

When you’re ready to buy, we can show you condos for sale in downtown Boston to fit your budget and your tastes. Cruise through our inventory online to get a feel for what’s on the market, or give us a call today at (619) 649-0368 to speak with an experienced agent. ‘

Author Profile

John Ford
John Ford

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.


Back Bay

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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.

John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114



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