If you’re looking for buy a Boston Beacon Hill condo, it’s important not only to think of the purchase price of your Boston condo, loft or penthouse, but the homeowner’s association fee that comes with it. These fees can be significant, ranging anywhere from a $100 to $1,000 a month, so you might be wondering exactly what you get for the cost.

The Necessities: Common Grounds Maintenance and Repair

Many Beacon Hill condos have common areas which can include everything exercise facilities to outdoor patios and roof deck areas. The homeowner’s association and condo association fees will govern the regular upkeep and cleanliness of these areas, as well as any necessary repairs and new installations.

The Legalities: Condo Regulations and Other Requirements

Who ensures that neighborly disputes are taken care of and that each Beacon Hill condo is kept up to code? The homeowner’s association usually does — but that comes at a cost. Often, there may be legal fees and administrative fees associated with making sure that all owners are operating as they should. Without the condo board, no one would be around to enforce public parking, breed restrictions on pets, and other important issues that may affect an urban residents quality of living.

The Perks: WiFi and Other Amenities

The Beacon Hill luxury condos and Midtown condos may include perks such as high-speed Internet access, cable and other amenities into their association costs. When this is done, the perks will often be less expensive than having to purchase the service on your own. Many units are also converting to energy efficient devices in an effort to go green and to save owners money long-term.

The Decision: What Works Best for You?

How much should a homeowner’s association fee impact your decision to buy? Keep in mind that your homeowner’s association fee needs to be rolled into your total housing costs — the more you’re paying in HOA fees, the less you can purchase in “house”. However, you also need to make sure that you compare apples to apples; some homeowner’s association fees could include amenities like Internet that you’d otherwise need to pay for on your own.

If you’re interested in purchasing a Beacon Hill condo for sale, reach out to us. We work, live and play in Downtown Boston and can answer any questions you may have. Call us today  for more information about current listings and condos for sale in Downtown/Midtown Boston.

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Ford Realty
137 Charles Street
Boston, MA 02114
(617) 720-5454 (9:00 – 5:00 EST)
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Beacon Hill Population Demographics

 

Total Population 5,075
Male Population 2,465
Female Population 2,611
Male Population 48.57 %
Female Population 51.45 %
Median Age 33
Citizen US Born 4,022
Citizen not US Born 594
Not Citizen 460
Citizen US Born 79.25 %
Citizen not US Born 11.7 %
Not Citizen 9.06 %
Moved from Abroad 154
Moved from Same Country 626
Moved from Same State 407
Moved from Different State 392
Same House as Last Year 3,472
Moved from Abroad 3.03 %
Moved from Same Country 12.33 %
Moved from Same State 8.02 %
Moved from Different State 7.72 %
Same House as Last Year 68.41 %

Occupational Employment in Beacon Hill

White Collar 3,022
Blue Collar 69
White Collar59.55 %
Blue Collar1.36 %
Self Employees 166
Private Companies 2,137
Governmental Workers 144
Not for Profit Companies 643
Self Employees 3.27 %
Private Companies 42.11 %
Governmental Workers 2.84 %
Not for Profit Companies 12.67 %

Number of Households in Beacon Hill

Total Households 2,532
Average People Per Household 2
Family Households 831
Non-family Households 1,701
Non-family Households 16.37 %
Family Households 33.52 %
Households with Children 304
Households without Children 2,228
Households with Children 5.99 %
Households without Children 43.9 %

Median and Average Income in Beacon Hill

Average Household Income $159,432.38
Median Household Income $107,838.00
People below Poverty Level 581
People above Poverty Level 4,107

Housing in Beacon Hill

Occupied Housing Units 2,532
Owner Occupied 859
Renter Occupied 1,673
Owner Occupied 16.93 %
Renter Occupied 32.97 %
With Mortgage 479
Without Mortgage 380
Median Value with Mortgage $698,850.00
Median Value without Mortgage $916,950.00
Median Housing Costs per Month $2,286.00
With Mortgage 9.44 %
Without Mortgage 7.49 %

Beacon Hill Education Statistics

No High School 37
Some High School 448
Some College 339
Associate Degree 94
Bachelor’s Degree 1,733
Graduate Degree 1,764
Never Married 2,381
Married 1,759
Separated 34
Widowed 101
Divorced 346
Never Married 46.92 %
Married 34.66 %
Separated 0.67 %
Widowed 1.99 %
Divorced 6.82 %

Means of Transport to Work in Beacon Hill

Car 566
Bus or TrolleyBus 148
Railroad 88
Bicycle 73
TaxiCab 22
Walk 1,484

 

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