Boston Condos

How Much is a Condo in Boston?

The condo market in Boston is growing quickly. According to an August, 2016 report released by realestate.com, both the number of available condos and their prices are on the rise. A big reason for the higher average price is the development of many new luxury condos. Longwood Towers Condominiums is one such example. These units have a lot of amenities not previously found in Boston condos. Some of these features might include an on-site fitness center, concierge service, and valet parking.

Condo Prices vs. Single-Family Home Prices

In late 2016, the average condo in Suffolk County was $520,000. This represented a 9.5% increase over the first half of the year. Suffolk County includes Boston as well as smaller, nearby cities like Chelsea and Revere. The average single-family home in the same county sold for $440,000. That was 4.4 percent higher than the first half of 2016.

Here are the average condos prices for Boston and nearby cities:

  • Downtown Boston (including South End, Midtown, and Back Bay) - $800,000

  • South Boston - $615,000

  • East Boston - $400,000

  • Cambridge - $651,000

  • Somerville - $587,000

  • Jamaica Plain - $478,000

These prices can certainly be discouraging, especially for a first-time homeowner. However, attending one of our first-time home buyer seminars can provide you with several resources. If you don’t see any upcoming, please contact us, or feel free to call us at (617) 396-3100, and we’ll be sure to arrange a seminar to help you soon!

How Are Condos Different?

Many Bostonians prefer condos because it allows them to own property with more perks and less responsibility than a homeowner. It also provides more freedom than renting an apartment. Someone else handles all outside maintenance such as mowing the lawn or shoveling snow. Since you own your unit, you’re free to decorate or remodel as you see fit. The one exception is that you won’t be able to make structural changes to common walls between your own space and a neighbor’s.

If you’re looking for luxury and convenience, speak to us today about Longwood condos for sale.

Can I Buy A Home With No Money Down?

If you’re trying to buy a home, you may feel discouraged by the 20% down-payment that most lenders require. However, saving up for a 20% down payment on a six-figure home is simply unrealistic for many home buyers. You may qualify for a program that doesn’t require you to put any money down to purchase a home.

The most common programs include:

Credit Union Loans

Credit unions are owned by members instead of a board of directors. If you’re not already a member, consider researching local credit unions to see if you meet criteria. Some credit unions offer loans with no down-payment, to members with good credit who earn 80% or less of the median income for the area.

USDA loans

If you don’t need to live in Boston proper and are okay living in a town of less than 10,000 people, this loan could work for you. These are the criteria for a no-interest loan through the United States Department of Agriculture. The federal organization may also be able to help if you earn low or moderate income for your area.

VA loans

This program is for retired military members or their surviving spouse. You need an excellent credit score and a special appraisal to qualify for a Veteran’s Administration home loan with no money down.

Longwood Residential is Here to Help.

The city of Boston is currently on target to meet its goal of 53,000 new housing developments by 2030. We’re willing to do whatever it takes to match our clients with their perfect home. Consider attending one of our first-time home buyer seminars if you have never purchased a home. You may also want to think about other homeownership options, such as buying a condo. With determination, planning and having access to the right resources, home ownership can be a reality, much sooner than you think.

3 Tips To Sell My House Quicker

If you’re trying to sell your house quickly, skip the for sale by owner option. By going it on your own with a FSBO, you’re required to perform hours of research, just to determine a starting listing price. You’ll also have to supervise and control all of the other nuances that go with selling your home on your own. This includes arranging home showings and drafting a legal P&S (purchase and sales) agreement.

Here are three helpful tips that you can take opportunity of TODAY to help sell your house quickly:

1. Set a competitive asking price right from the start

Many sellers make the mistake of setting a price too high and then lowering it when the house fails to sell within a predetermined time. It’s important to understand that activity during the first 30 days of your house being on the market is the best you’re going to see. Starting out with a price that’s too high will delay the sale of your home unnecessarily. At Longwood Residential, we have years of experience establishing the right selling price for specific neighborhoods.

2. Don’t overlook the importance of preventative maintenance and curb appeal

Keeping up with your home’s maintenance means you won’t have to scramble when it comes time to sell. If you notice something needs repair, we recommend taking care of it before putting your house on the market. It’s also essential to enhance the view of your home from the street. Consider planting flowers, replacing the dented mailbox, or giving the front door a fresh coat of paint. Buyers won’t even stop to look if they’re already turned off before setting foot inside your home.

3. De-personalize your home

This will probably be hard to do, but it’s a necessary step. Buyers need to picture themselves living in the house, not you. If you need successful home staging ideas, just ask your Longwood Residential realtor.

Bonus Tip!

Work with an experienced Longwood Residential realtor! As our client, you will benefit from our many years of experience selling in the Brookline/Boston markets. When you list your home with us, you’ll have access to the best tools and helpful Realtors who can help you quickly get your home from just listed to blissfully sold.

How does rent-to-own work?

When looking to buy a home, rent-to-own can help you secure a property, even if you have poor or insufficient credit. People who are struggling to sell their home, or who would like to sell it to someone who may not qualify for a traditional mortgage, can also benefit from a rent-to-own arrangement.

Details of a Rent-to-Own Contract

Many people confuse rent-to-own with a lease-option contract, which is entirely different. In a lease-option, the person occupying the home and making rent payments has the right of first refusal if the house goes up for sale. He or she does not promise to buy it. A rent-to-own deal is a legal contract to buy. A rent-to-own deal is a contract between buyer and seller that typically extends one to two years into the future. The main difference is that it gives the buyer time to obtain acceptable financing and save for a down payment.

Buyers and sellers should include the following information in a rent-to-own contract:

  • The full name of each party, the property address, and the date of the agreement

  • The terms, including amount of rent, payment due dates, grace period, and late penalties

  • The contract should indicate how much of the rent goes towards the purchase price

  • If necessary; a pet policy may be included, as well as a utilities payment schedule, who can reside in the home, and who is responsible for property maintenance during the rental period

The amount of the “option consideration fee,” which is separate from a security deposit, should also be included in the rent-to-own contract. This fee is paid out to the homeowner in exchange for a written agreement to not sell the home to anyone else. When the buyer changes over from renting to owning, the entire amount of the fees collected by the seller should be subtracted from the purchase price.

If you’re interested in rent-to-own as a buyer or seller, please contact one of the Longwood Residential professionals for assistance.

Where is the Best Place to Live in Boston?

According to the website Best Places, Boston is the historic and intellectual capital of the United States. Many residents choose to live in Boston for that reason alone. It’s hard to find Boston’s culture and tradition anywhere else. It can be more challenging to figure out where is the best place to live in Boston. With a cost of living 70 percent higher than the rest of the U.S. and an average home price of $499,000, renting or buying a condo is a better option for a lot of Boston residents.

Condos Available in More Than a Dozen Boston Neighborhoods

Longwood Residential offers Longwood condos for sale in 14 different neighborhoods within the Boston city limits. Our prices are in line with the average condo price in Boston. Limited real estate availability and the desire to save money on purchasing a home are the main reasons people consider condo ownership. Lifestyle is another important consideration. You don’t have to spend your valuable free time mowing and maintaining your lawn. Our staff handles these chores as part of your homeowner’s association dues.

Many of our multi-unit condo towers offer amenities such as valet parking, an exercise room, room service, package delivery, and on-site stores. You have the convenience of a hotel but you get to stay there permanently.

Apartments in Boston

For some people who choose to live in Boston, renting an apartment makes more sense. They need the flexibility to move when the lease is up and may not be able to afford a house or condo. Longwood Residential manages several luxury apartment complexes in Boston. Many have the same upscale amenities as our condos. Please contact us to learn more or arrange a tour.

Sign Up for Our First-Time Home Buyer Program

It’s an exciting time when you decide to buy your first house. It can also be overwhelming. When you rented an apartment, you filled out an application, paid a deposit, and moved in. While the owners checked your financial stability and rental history, applying for a mortgage is much more involved.

You probably have numerous questions in addition to how to qualify for a mortgage. Longwood Residential’s first-time home buyer program can start to address your concerns at our free information session, which we hold periodically. In the market for Longwood Condos but not sure where to start? We'll post our next seminar on Facebook, so follow us there!

What to Expect at Our Free Home Buying Seminars

Longwood Residential hosts these events at our office. We are conveniently located at 1404A Beacon Street in Brookline. Here are some of the helpful topics we plan to address:

  • High-level overview of buying a home and the local real estate market Foyer of luxury home

  • Best practices for getting your offer accepted

  • Evaluating your financing options

  • Differences between buying and renting

  • What to expect during your home inspection

  • Expectations for closing

We also leave plenty of time to answer any questions from attendees. We understand that everyone has a unique situation that won’t necessarily fit into the general information we provide. You are welcome to contact a member of our team, if you have any immediate questions for us regarding buying or selling your home.

Education should be the first step on your exciting journey toward home ownership

Anyone interested in the home buying process is welcome to attend our free events! We just ask that you RSVP to info@longwoodresidential.com, or call us at 617-396-3100. Space for our first-time home buyer programs are limited, so reserve your spot today!

What Are Condos?

If you’re just starting to look at Longwood condos, you may feel some confusion about the differences between a condo and other types of residences, such as an apartment or private home. The simple definition of a condo is that it’s a cross between these two. Your unit is located within a building with dozens or possibly hundreds of other units. However, you do not pay rent like you would for an apartment. You secure a mortgage and live in your condo until you decide to sell it, just like you would with a house.

Living in a Condo Can Be the Best of Both Worlds

condo poolWhen you own a private home, you alone are responsible for the maintenance and upkeep. This includes both inside and outside of the home. As a condo owner, you have the benefits of owning your own place with less responsibilities. Part of your monthly mortgage payment goes to association dues to help with the upkeep of common areas. As a mortgage holder at one of our Longwood condos in Boston, this could include the pool area, private fitness room, party room, and several other areas accessible to all residents.

You have very little freedom to decorate or renovate as you see fit when you live in an apartment. This isn’t true of life in a Longwood condo. Since you own the entire inside structure of your unit, you can do what you would like to make it feel like home. However, you can’t make any changes to supporting walls since that would affect neighbors on either side of you.

Contact Us to Learn More

Please don’t hesitate to call or email if you still have questions about living in a condo or would like to learn more about our current properties available.

Awesome Longwood Condos for Sale

Before you pursue Longwood condos for sale, it’s helpful to review some basic information about condominium living. When you buy a condo, you own the entire inside of your unit. The condo association owns the exterior, common areas, and the land where the building sits.

You are not responsible for exterior maintenance as a condo owner. However, it’s important to budget for association fees in addition to your monthly mortgage payment. The money collected from all residents covers the cost of maintenance and repair in common areas such as hallways and meeting rooms.

Which Boston Neighborhood is Right for You?

One of the major benefits of Longwood condos for sale is that we have units available in multiple Boston neighborhoods. These include:

Of course, you need to consider several personal factors when deciding where you want to purchase a condo. Proximity to your work, quality of the school district, and access to public transportation are just three of the most important things to people looking to make one of these Boston neighborhoods their new home. You can search by neighborhood, price, MLS listing number, and other categories when trying to locate an available unit sold and managed by Longwood Residential.

Average Cost of Boston Condos by Square Foot

Our prices fall in line with those listed on a report released by Curbed Boston on January 5, 2017. With the new year just weeks old, prices range from $263 per square foot in the Hyde Park neighborhood to $1,467 per square foot for a condo in Back Bay. These figures include condos ranging in size from 812 to 3,247 square feet.

The analysis posted by Curbed Boston includes data from 10 distinct Boston neighborhoods. This is to give buyers an accurate idea of the average monthly payment for a Boston condo in place of using a mortgage calculator.

Featured Longwood Condos for Sale

With a presence in all 14 of the Boston neighborhoods listed above, Longwood Residential is sure to have a condo available to suit your needs. Below are just three of our luxury properties that could be your new home:

  • Ritz-Carlton Condos: Named for the hotel chain that offers such personalized service, the Ritz-Carlton Condos give you more of the same. Whether you’re interested in valet parking, room service, or wake-up calls, you can receive these services and more as a resident here. A picturesque view of the harbor completes the experience of condo living at its finest.

  • Mosaic on the Riverway: Want to live in a building with top floor club space? Then Mosaic on the Riverway is the place for you. Besides the serene view from high above the city, this building is conveniently located in the Longwood Medical Area.

  • Washington on the Square: When you want the convenience of a condo but don’t want or need a lot of space, consider a studio-sized unit at Washington on the Square. One and two-bedroom condo units are available as well. You don’t even have to leave home to exercise since the building comes equipped with a 24-hour fitness center.

Please contact us at your convenience to learn more about Longwood condos for sale.

Longwood Residential Condo CTA

Longwood Apartments: Luxury Properties for Rent in Brookline

As part of the Greater Boston area that is close to five other upscale neighborhoods, Brookline has much to offer renters. From the Coolidge Corner retail district to the active nightlife, you won’t be at a loss for things to do in this community. Fortunately for you, several luxury Longwood Apartments are currently available to rent.

Exclusive Longwood Apartments in Washington Square

Washington on the Square, which also goes by the name 1600 Beacon Street Condominiums, offers the upscale living you desire. It has studio as well as one and two-bedroom units. Some of the features you will enjoy inside of your apartment include granite countertops and stainless steel appliances. All bathrooms have been recently renovated. Some of the building’s features include concierge service and underground parking. You can also workout in its private 24-hour facility.

Just down the road from Washington on the Square is the 1440 Beacon Street Apartments. As a renter at this building, you will be close to Coolidge Corner. 1440 Beacon Street Apartments are within walking distance to the Green Line. With in-unit dishwashers, package receipt service, and wall to wall windows among its many amenities, you won’t want to miss these Longwood Apartments.

1443 Beacon Street Apartments are literally a stone’s throw from the 1440 building. Like its neighbor, the 1443 building is on the bus line. Additionally, it has a walkscore of 92%. That means you can walk to nearby shopping centers, medical facilities, grocery stores, and other businesses you visit on a regular basis. You will enjoy a life of luxury using the sundeck, pool, valet dry cleaning service, 24-hour concierge service, and other exclusive services for our renters.

Ready to make Brookline your new home? Just contact a representative of Longwood Residential today.

Condos in Brookline, MA

Brookline is an upscale, historic city best known as being the birthplace of President John F. Kennedy. Brookline MA condos don’t disappoint in their luxury, convenience, and number of amenities. If you’re looking to settle down in this community, here are some housing options to consider.

Brookline MA Condos and Apartments

The following condo community is available in Brookline:

Washington on the Square: This building has 11 stories and 125 units. They include a mix of studio, one-bedroom, and two-bedroom units. Each has hardwood flooring, granite countertops, stainless steel appliances, and other luxury amenities. The building is located within a five-minute walk of grocery stores, restaurants, and entertainment. Concierge service, a fitness center, and an on-site laundry facility are just three of its many amenities.

These luxury apartment buildings are also located in Brookline:

1440 Beacon Street Apartments: This newly renovated building has 136 studio and one-bedroom units. It is conveniently located next to the Green Line if you need to take public transportation into the city. Some of the unique amenities include package receipt, a fitness center, heated underground parking, and wall to wall windows.

1443 Beacon Street Apartments: With a walk score of 92 percent, nearly everything you could need in the Brookline area is accessible by foot. The building offers a sundeck and pool, 24-hour concierge service, valet dry cleaning, and much more. 1443 Beacon Street Apartments has one, two, and three-bedroom units. Availability for the three-bedroom apartments is currently limited.

If you’re considering living in Boston proper, several condo buildings are available there. Please see our Hot Boston Condos blog for more details.