Newly Built Boston high rise condos
Boston Condos for Sale and Boston Apartments for Rent
If you’ve been skipping over newly built Boston high rise condos in your search, you might be doing so based on outdated assumptions. Let’s clear up a few of the most common myths, so you don’t miss out on a solid opportunity.
Myth 1: New Boston High Rise Condos Are More Expensive
It’s easy to assume a new build will cost more than an existing home, but that’s not necessarily true, especially right now.
Data from Census and the National Association of Realtors (NAR) shows the median price of a newly built home today is actually lower than a home that’s been lived in already (an existing home):
So, why’s this happening? As Heather Long, Chief Economist at Navy Federal Credit Union, explains:
“This largely reflects two trends: New homes are getting smaller on average, and builders are doing more price cuts.”
If you’ve ruled out new construction based on price alone, it’s time to take another look. Talk to your local real estate agent to see what’s available (and at what price points).
Myth 2: Boston High Rise Condo Builders Don’t Negotiate
Many Boston condo for sale buyers assume builders aren’t going to play ball when it comes time to negotiate. But that’s just not the case. A number of builders are sitting on finished inventory they want to sell quickly. And that makes them more open to compromising. Mark Fleming, Chief Economist at First American, explains a builder:
“. . . would love to sell you the home because they’re not living in it. It costs money not to sell the home. And many of the public home builders have said in their earnings calls that they are not going to be pulling back on incentives, especially the mortgage rate buydown . . .”
That means you may find builders more flexible than individual sellers, and more motivated to toss in incentives to get the deal done. According to Zonda, 75% of new home communities offered incentives on new homes considered quick move-ins in June.
Myth 3: They Don’t Build Them Like They Used To
Some people think newer homes lack the craftsmanship of older ones. But here’s a reality check. Quality can vary in any era. And using a reputable builder matters more than the build date.
According to the National Association of Home Builders (NAHB), a good way to gauge quality is by talking to buyers who have purchased from that builder recently. In an article, NAHB explains:
“Any high-quality builder should be ready to provide you with the names and phone numbers of satisfied customers. If they cannot, consider that a red flag and walk away.”
The article suggests asking those buyers questions like:
- Did the builder meet their expectations?
- Would you use that same builder, if you were to do it again?
But you can also ask your agent about the builder’s reputation. Generally, agents know about the builders active in your area and may even have experience with past clients who have bought a home in one of that builder’s communities.
Myth 4: You Don’t Need Your Own Boston Real Estate Agent
This might be the biggest myth of all. The truth is, when you buy a brand-new home, using your own agent is even more important. Builder contracts have different fine print, and you’ll want a pro on your side who can really explain what you’re signing and advocate for your best interests.
These stats seem to prove that’s the case. In a Realtor.com survey, buyers who purchased a newly built home rated their agents far more helpful than the builder (or the builder’s representative) during the process (see visual below):
Boston Condos for Sale and the Bottom Line
Don’t let misconceptions keep you from exploring one of the most promising options in today’s housing market.
Whether you’re curious about what’s being built nearby or wondering if a new home fits your budget, connect with a local agent. You might be surprised by what’s out there.
Newly Built Boston high rise condos
When searching for a Boston condo for sale, you don’t want to skip over new downtown high rise condos for sale as an option. Right now, there are more newly built homes to choose from than there would normally be in the market. And those added choices come with some pretty incredible benefits. Talking to your agent is the best way to see if this type of home makes sense for you.
Here’s a quick rundown of some things your agent will walk you through – including a few of the top perks of buying a newly built high rise condo today and some potential things you’ll want to think about before you ink any contracts.
The Perks of Buying a Newly Built High Rise
Customization Options: Many high rise condo builders allow buyers to choose finishes, layouts, and upgrades so that you can personalize your home to your unique sense of style. This is obviously more of a draw if the home is still under construction, but sometimes you can have a builder agree to some tweaks even after it’s completed.
Less Maintenance and Fewer Repairs: Everything from the roof to the appliances is brand new, which should save you on any upfront maintenance or repair costs — for at least the first few years. Many Boston downtown high rise condo builders also offer warranties on things like structural components and major systems, to give you extra peace of mind. And not having to worry about this sort of thing is a big perk when everything feels so expensive right now.
Eco-Friendly and Energy-Efficient Features: With stricter building codes, newly Boston Seaport high rise condos built homes tend to be more environmentally friendly. This can include energy-efficient upgrades like smart thermostats and high-efficiency HVAC systems or eco-friendly tech. And all of these features can save you money on your future energy bills – again a welcome relief while inflation is stubbornly high.
Builder Incentives: Some Boston Seaport condo builders are also offering incentives to homebuyers. While this will vary by builder, it could include rate buy-downs or other ways to offset today’s affordability challenges. As Bankrate says:
“Some builders offer financial incentives, including flexible financing options, to encourage buyers to purchase. These incentives — especially if they get the buyer a lower interest rate — could make a new-construction home more affordable in the long run.”
Other Considerations When Buying a Newly Built High Rise Condo
On the other side of the coin, there are some things that you’ll want to at least consider before making your choice.
Longer Timelines: If you’re purchasing a Boston high rise Seaport condo that’s still under construction, you may have to wait several months — or longer — before you can move in. As Realtor.com puts it:
“For homebuyers who have a short time frame to move into a new home, buying new construction could be challenging if the house isn’t built yet. This is not always the case, since a community may have some quick move-in homes or spec homes that are already complete (or nearly so) and ready for a buyer to move in. But if not, a buyer may have to wait.”
Potential Price Changes: Keep an eye on costs, too. It’s easy to go over budget if you keep tacking on upgrades or add-ons as you customize your build. At the same time, building materials, like lumber, can be affected by the economy, inflation, and changing trade policies. And unfortunately, if the cost of supplies climbs, builders will pass at least some of that increase on to people like you. As HousingWire explains:
“Upgrades and add-ons, unforeseen delays due to weather, supply chain issues or labor shortages, and expenses like landscaping and fencing not included in the builder’s cost can significantly affect the final price.”
Boston Downtown High Rise Condos and the Bottom Line
New Boston high rise condos can be a great choice today, but you want to be sure you have all the information you need to make an informed decision on such a big purchase. To weigh the pros and cons, connect with a local agent.
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Newly Built Boston high rise condos
If you’re looking to buy a Boston condo for sale, you may find today’s limited supply of Boston homes available for sale challenging. When Boston condo for sale inventory is as low as it is right now, it can feel like a bit of an uphill battle to find the perfect home for you because there just isn’t that much to choose from. If you need to open up your pool of options, it may be time to consider a newly built Seaport high rise condominium..
According to the latest data from the U.S. Census, there’s positive news when it comes to new home construction. When you look at the first three months of this year, you’ll find:
- More new homes were completed and are ready to sell. This gives you more move-in-ready options for your search.
- Builders broke ground and started construction on more single-family homes. This means there are more homes intended for one household in the beginning stages of construction, allowing you the opportunity to customize one to your liking.
- The number of permits for building new homes ticked up. This shows builders are ramping up to start on even more home construction soon.
And, while this is all good news for broadening your options for your home search, there are other perks that come with considering a newly built home.
Boston Seaport condos – Ford Realty
High Rise Home Customization
When you buy a new home under construction, you can tailor it to your unique needs and taste. Bankrate says:
“Building means customizing. . . . instead of wishing your home had a certain kind of flooring, a sunroom or some other special amenity, you’ll be able to tailor the property to your exact needs.”
Seaport Luxury Condos for Sale | Ford Realty Inc
High Rise Condos Feature Brand New Everything
Another perk of a new high rise property is that nothing in the Seaport condo is used. It’s all brand new and uniquely yours from day one.
High Rise Homes Provide Minimal Repairs
And, because everything is new, you’ll likely find there are fewer maintenance and repair needs up front. As Realtor.com explains:
“. . . if something does go wrong with your new home, not only are there likely some manufacturer warranties in place, but many builders also include additional home warranties . . .”
High Rise Properties Provide Energy Efficiency
Lastly, high rise Seaport complexes gives you the opportunity to incorporate more energy-efficient options that can help lower your costs over time – which can feel especially important when inflation’s raising many of the costs around you.
Boston High Rise Condos and the Bottom Line
If you’re having trouble finding your dream home in today’s market, it may be time to consider newly built homes as an option. Let’s connect so you have an expert on your side to help you explore what’s available in our local area.
St. Regis Residences Boston | 150 Seaport | Ford Realty Inc
