Millennial guide to buying or renting Boston real estate. Many people have managed to build lives in Boston . However, Boston real estate can be scary, especially for young people. It may leave you wondering how you will ever be able to rent a Beacon Hill apartment or buy a Boston condo for sale in one of the most expensive cities in America. Fortunately, there are opportunities for everyone if you know where to look.
Can I Afford It?
Despite what you may expect, even millennials are renting Beacon Hill apartments and buying their first Boston condo for sale. The Boston condo median price is high at over $500,000. However, this is only the median price, there are plenty of Boston condos for sale less than this. Additionally, you can obtain a Beacon Hill apartment for under $2,500 per month. In regards to buying, many young people are able to take advantage of more flexible financing options that allow mortgages with less than 20 percent down payments.
Where Should I Look?
Naturally, the key to finding affordable properties is to look in the right neighborhoods and at the best prices. Many people looking for more affordable options may look to the Boston North End where there are condos for sale under $500k. These areas frequently have listings that are attainable with smaller budgets.
For buyers with a little more buying power, Seaport real estate is popular with young people. Similarly, new high rise condos and apartments causes many to look at the Midtown area for housing. While both of these neighborhoods are home to some expensive listings, there are also properties that can be found even on a budget.
Tips for Buying
The most valuable tool at your disposal as a buyer is information. Get educated about the purchasing and financing processes, as well as the markets you are looking at. Doing your homework and getting prepared will help you make wise real estate decisions.
Bottom Line
It helps to have experienced professionals in your corner. Whether you are looking for South LA, the Valley or Santa Monica properties for sale, the team at Maser Condo Sales can help you find the right fit for you. Contact us today.
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