• • Flood Risks: Given the neighborhood’s proximity to the water, ask how the building addresses flood design, mechanical placement, and backup power.
  • Flood Insurance: Confirm if the building is in a FEMA flood zone and if flood insurance is required by lenders or the condo association. [1, 2,]

• • All-in Monthly Costs: Seaport luxury buildings offer extensive amenities, but HOA fees can range up to \(\$1,000\) or more per month. Add these to your estimated mortgage, taxes, and parking costs.
  • Reserves & Special Assessments: Request the building’s current budget and reserve study. Are there planned capital improvements that could trigger a special assessment (a hefty one-time fee for building repairs)?
  • Warrantability: Ensure the project is “warrantable” by standard lenders. Buildings with high commercial space ratios or too many investor-owned units may require non-conforming loans. [1, 2, 3,]

• • Developer History: For new builds, ask about the developer’s reputation and previously completed local projects.
  • What’s Included: Clarify exactly what is included in the unit price versus what costs extra (e.g., storage units, appliance upgrades, parking).
  • Punch-List Rights: Confirm what happens if construction is delayed and your rights to walk through the unit to identify defects before closing. [1, 2]

• • Rental Restrictions: Short-term rentals are illegal in Boston. Review the association’s rules on long-term leasing, as many buildings limit the percentage of units that can be rented out to investors.
  • Investor Ratios: Lenders often avoid buildings where a large percentage of units are owned by investors rather than primary residents. [1, 2]

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