Buy or rent in Beacon Hill

A renter living in Beacon Hill will always face an important decision:  Is it better to Rent or Buy a Downtown Boston condo?  In the above graph provided by the MA Association of Realtors, it is clear that most tenants think that buying is a better financial option in the long run.   However, in the short term: Are there enough resources for a “down-payment” and the monthly mortgage costs?  Rents in Beacon Hill  have skyrocketed over the past couple of years, while the interest rates and Downtown Condo values have shown signs of stability and gradual appreciation.  Before interest rates and Downtown Condo values rise enough to “price out” buyers…it is important for current tenants to explore the options of buying sooner rather than later.

Do the Math

I always refer tenants to the Rent Vs Buy Calculator on Realtor.com.  This is a great resource to get to the “bottom line” of monthly costs.  Often times when tenants or first time home buyers calculate the monthly costs, they forget to include monthly HOA’s and Property taxes.  In the Advanced settings tab of the Realtor.com calculator, you are able to add in Property Taxes (calculated on a 12 month basis), and add in the cost of applicable monthly HOA fees (based of course on the complex being considered).

In either of the two scenarios above, the most important issue to consider are the options on both sides of the market.  To find out what is available for sale, to View all of the current Beacon Hill Condos for Sale.  To compare these opportunities against what is currently for rent in Downtown, Click Here to view all of the current Downtown Boston condos for rent.

 Beacon Hill condos for sale

Author Profile

John Ford
John Ford
EXPERIENCE

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.



HISTORY

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.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
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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