Make money or lose money? When we’re talking about buying Boston real estate and the New England Patriots, it usually boils down to one thing winning or losing. How do you win? Bill Belichick sums it up best, Belichick believes; “The game is won or lost before you hit the field, which is why preparation is key.”
Let’s discuss the Boston real estate market, should you buy a downtown Boston condo? Should you hold off?
I’ve been both a winner and a victim in the Boston real estate market. And what I can tell you, and I know this sounds simplistic, but a mistake is often made by buying too high, and also by selling too low. When an investor does both, they lose money.
Purchasing Boston Real estate for sale is a long-term play, so it’s difficult to learn quickly when the action now happens slowly. The average Boston condo homeowner now moves only once every seven years on average. The average investment play is just a bit faster, but with just as much variation as many investors flip within a year, month or even weeks, while other investors hold for eternity as their dynasty.
Another important investment lesson, which I have learned first-hand, applies to every kind of investment. You need to know when to get out, and then buy on the next investment low. Buying low and selling high is a key theme in investing, perhaps the highest of all investment advice. It correlates to another primary theme: “Don’t lose money” or as coach Bill Belichick would say “Don’t take your eye off the ball.”
For Beacon Hill apartment renters, the questions, “Should I buy a Beacon Hill condo?” or rent a Beacon Hill apartment?” This is a bit more cut and dry. If the alternative is paying high rent, and you plan to stay in the area for many years, then the answer is almost always Yes, buy a Beacon Hill condo for sale.
For an investor seeking profit, the investor must first look at their own needs as well. Those who invest in Boston real estate for sale tend to also enjoy living in or frequently visiting downtown Boston (They also tend to be Patriots fans). Downtown Boston residential real estate has shot up every year for the last 10 years.This rapid growth is over for now (sorry to say). Experts are forecasting that growth appreciation will stagnate as we move forward into 2020. Some economically astute Boston real estate professionals are forecasting negative growth and decreasing home prices over the next few years.
When investing in Boston real estate for sale do your research thoroughly. And remember, there’s a reason why Bill Belicheck and The New England Patriots are winners. Belichick believes that the game is won or lost before you hit the field, which is why preparation is key.