9 Signs That it’s Time to Buy a Condo in Boston

If you’re thinking about buying a condo in Boston, you’re not alone – thousands of people love their city-based condos. But how can you tell if now’s the right time to buy one, and will it end up being the right choice for you? This guide explains.

9 Signs That it’s Time to Buy a Condo in Boston

Check out these nine signs that you may be ready to buy a condo in Boston:

You’re ready for a new space
You need less (or more) space
You’re done with exterior maintenance
You spend too much on your monthly mortgage payments
You want a stronger sense of community
You want to live in a community with amenities
You stand to make a good profit by selling your home
You qualify for low interest rates and favorable terms
You want to be closer to all your favorite places

Here’s a closer look at each.

Sign #1 That it’s Time to Buy a Condo in Boston: You’re Ready for a New Space

If you look around your current home and feel like it’s just not the right place for you, even if you’ve lived there for many years, it may be a sign that you’d be happier in a Boston condo. There’s nothing wrong with getting a fresh start in a new home, provided you can swing the deal financially and you’re up for the challenges moving often presents.

Sign #2 That it’s Time to Buy a Condo in Boston: You Need Less (or More) Space

Whether you’ve outgrown your home or it’s outgrown you, feeling like your space is the wrong size is a sign that it’s time for a change. You can find condominiums in a wide range of sizes all over Boston, which means you can rightsize easily. (Rightsizing is the practice of finding a home that’s a good fit for your household size, your stuff, and your lifestyle).

Sign #3 That it’s Time to Buy a Condo in Boston: You’re Done With Exterior Maintenance

When you own a condominium, you’re not responsible for exterior maintenance. In fact, your condominium association will take charge in that department, hiring contractors using the association dues that you and other owners pay each month. If there’s a leak in the roof, not your responsibility; if there’s a crack in the sidewalk, not your responsibility; if the building’s exterior needs to be painted – you guessed it! – not your responsibility.

Sign #4 That it’s Time to Buy a Condo in Boston: You Spend Too Much on Your Monthly Mortgage Payments

If your monthly mortgage payments are a bit too high for comfort, buying a condo may be a great solution. Often, condominiums are less costly than single-family homes are, which means you may end up saving money. Additionally, interest rates are still reasonably low, and opening a new mortgage loan may give you access to a better rate than you currently have. That saves you money, too.

Sign #5 That it’s Time to Buy a Condo in Boston: You Want a Stronger Sense of Community

When you live in a neighborhood populated with single-family homes, you have fewer chances to bump into your neighbors than you do living in a condo – and if you want to bump into your neighbors, it may be time to make the change. Many people feel that the sense of community is stronger in condominium buildings and complexes simply because they have more opportunities to interact with neighbors.

Sign #6 That it’s Time to Buy a Condo in Boston: You Want to Live in a Community With Amenities

The majority of condominium buildings and complexes in Boston offer a wide range of amenities. Many, such as One Dalton, feature amenities such as concierge services, valet and car service, and sophisticated restaurants; others, such as The Sudbury Condominiums, feature fitness centers, kids’ playrooms, dog runs and pet spas, and sky decks. If you’re looking for specific amenities, such as community pools, playgrounds, restaurants or shopping, your real estate agent can help you find the perfect building.

Sign #7 That it’s Time to Buy a Condo in Boston: You Stand to Make a Good Profit By Selling Your Home

If you could sell your current home and make a good profit, it may make sense to buy a condominium. The best way to find out how much you’re likely to make by selling your home is to talk to a real estate agent who can give you a free comparative market analysis, or CMA. A comparative market analysis compares your home to other, nearby homes that have recently sold or are currently on the market; that way, you’re able to see how much buyers may be willing to pay for yours.

Sign #8 That it’s Time to Buy a Condo in Boston: You Qualify for Low Interest Rates and Favorable Terms

If your credit score could land you low interest rates and favorable terms on a new mortgage – particularly if you could pay a lower interest rate on a new mortgage than you do on your current one – it may be a good sign that you’ll be better off buying a new home; if you have your eye on condo living, that may be the nudge you need.

Sign #9 That it’s Time to Buy a Condo in Boston: You Want to Be Closer to All Your Favorite Places

Most of the condominium buildings in Boston are in the heart of all the action, so if that’s where you want to be, condo living may be the right choice for you. You could easily find a home that’s within walking distance of all your favorite places in the city.

Are You Buying or Selling a Home in Boston?

If you’re searching for a luxury home for sale in Boston, or if you’re selling your home, we can help. Call 617-967-5271 or get in touch with us online so we can discuss your needs. In the meantime, please feel free to browse our listings in the following communities:

9 Signs That it’s Time to Buy a Condo in Boston