Ready to take advantage of Boston condo for sale market and invest in a home? Now’s a great time to start thinking about the costs of home ownership — whether you’re paying in cash or taking out a mortgage. While your mortgage lender can help you figure out what kind of monthly payment you can afford, as a real estate agent I like to remind people to also budget out the funds you’ll need to cover the expenses of actually owning a home that your broker may not of told you.

Mortgage, property tax, and homeowners insurance

The key to understanding your long-term home ownership costs is predictability. Unfortunately, property tax rates and even homeowners’ insurance change over the years (most likely, going up). One way to reduce the variables is to lock into a fixed-rate mortgage when you buy your Boston downtown condo for sale. While variable rate mortgages may seem attractive with a low starting rate, you never know what will happen in the future.

Starting with your mortgage rate, you can begin to figure out your other basic costs of owning a Boston Downtown condo. A good mortgage calculator will allow you to plug in all of the relevant data and see how much your monthly costs will be for a given Boston Midtown home, including property taxes and homeowners insurance. Mortgage rates are determined by national trends, but property taxes and homeowners insurance are very much affected by what part of downtown Boston you want to buy a home in.

Property Tax in Boston

As with elsewhere in the US, each county, city, school district, and other special districts in Boston each raise money through the property tax, so the exact rate varies from year to year and neighborhood to neighborhood. All you have to do is Google the website for the county and enter the address in the appropriate search box once you get there. For currently listed properties, Zillow also puts this information in its website. Not into doing research? Just ask your real estate agent.

Homeowners Insurance

The age of your Boston condo, your own credit score and history, and the amount of deductible on the policy all play a major part in how much your monthly homeowners insurance premium in Boston will be.

Boston Condo Fees

Ah, the regular, predictable world of Condominium Association fees! Insert sarcasm. Unfortunately these can also change. Be sure to review the condo documentation to make sure your Condo Assoc is in a strong financial situation and won’t have to suddenly hike up the rates to cover delayed maintenance. Some Condo Assoc will even have caps on their annual increase amounts. You can know exactly what homeowners’ associations expect up front in terms of monthly dues, but you need to watch out as those rates could increase..

Condominiums are increasingly popular among first-time homebuyers – 42 percent of first-time homebuyers now opt for a condominium, compared to 28 percent in 2001. This makes condo fees an increasingly important (if not always top-of-mind) consideration in determining a home’s affordability.

Your real estate agent will be able to tell you the Boston condo for sale that you’re looking at determine cost of the condo fee,The good thing about Condo Assoc. is that they cover many of the costs of home maintenance, which is our next category of home ownership costs!

Boston condos for sale

Beacon Hill condos for sale

Charles River Park condos

Boston Midtown condos

Boston Downtown condos

Boston high rise condos

Boston Seaport Condos


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

Beacon Hill

Charles River Park


North End

South End

Seaport District

South Boston



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



Call Now