Buying or renting a luxury condo is an exciting process, especially if you’re looking at the latest and greatest buildings in a thriving city like Boston. But whether you’re renting or buying you’re going to be making a sizable financial commitment that you’re going to have to live with for at least a year, and probably more.
This is why it’s essential to take the time to make sure that you are making the right decision. There are a lot of condos in a variety of buildings in Boston, with the available selection there’s no reason to leap into a commitment without thinking things through.
Research The Building The Condo Is In
No condo is an island and the quality of experience you have will depend on the kind of building you move into. If you move into a building that is owned by a team of competent professionals with a proven track record then chances are you are going to be happy with your experience when all is said and done. On the other hand, if you fall in love with a great looking condo but end up learning that the building is run by a company that cuts corners and is unresponsive to your needs then you can end up facing all sorts of unexpected problems.
See if the company behind the building owns more than one property and look into all of them to see if any patterns arise. If your building looks great but the other buildings they own are run down then you should move ahead carefully. It’s also helpful to talk about people who have lived in their buildings for a while so you can get first-hand details about what it’s like dealing with the owners.
You should also talk with the building’s owner or their representatives so they can answer your questions and you can get a sense of whether you want to trust them. The best building owners know the importance of putting their residents at ease and will do what it takes to make you confident in their abilities.
Learn The Rules Of The Building
Living in a condo is different from living in a home, you’re going to be in close proximity with your neighbors and so rules and regulations are in place to preserve some sort of harmony. The particular rules vary from building to building so you want to ask about them but there are a few things you need to consider.
Sound is a big one, if you are planning on throwing parties or if you like your peace and quiet you definitely want to learn about any noise rules unless you want to find yourself facing unfortunate surprises after moving in. Another important consideration is whether or not you have or want a pet. Some condos don’t allow any pets and others only allow specific types.
Finally, you should definitely learn the rules about making modifications to your condo, when it comes to things like dealing with the electrical and plumbing set up and anything structural you definitely need to contact higher-ups before making changes. But even changes that seem minor to you may be regulated so you want to ask what you can and can’t do to your condo before moving in if you’re planning on personalizing it.
Get To Know The Neighborhood
In addition to learning about the building and its owners you should also look into the surrounding area and the neighbors you will share. A great neighborhood can make up for a so-so condo and a bad neighborhood can make even the best looking condo feel like a poor decision.
Look into how close you are to all the things you need. Finding the closest grocery stores, pharmacies, parks and restaurants can tell you how far you’ll have to travel when you want to get out of the house and get what you need. FIguring out how long your commute to and from work will be is also essential.
You should also consider visiting the area at different times and simply walking around. If you feel safe and have a good time simply experiencing the neighborhood then chances are it’s the sort of place you’ll enjoy staying in for years to come.
Check And Double Check Your Finances
The most important thing to consider when looking at real estate is what you can afford. Too many people decide to go beyond their financial means in hopes that they will make more money in the future or that they will be able to sell the property for a profit relatively quickly. While these things do happen you shouldn’t count on them happening, even in cities where real estate values are trending up there will be downturns that could cost you everything if you aren’t prepared.
Setting a realistic budget is an important first step but you also want to be thorough when it comes to considering the costs. In addition to the number on the condo’s price tag you might have to pay closing costs, maintenance fees, parking fees, and more. You don’t want to commit to a property that’s at the high end of your budget and discover that you have even more things to pay for than you expected.
Taking Everything Into Consideration
When it comes to buying a condo knowledge is power, the more you know about the luxury condo in question the better prepared you will be for making a wise decision. It’s perfectly natural to feel excited when shopping for a condo, especially with all the beautiful options in Boston, but you don’t want to get so swept away that you overlook these practical considerations.
The more research you do the more confident you can be. When you find a Boston luxury condo that speaks to both your heart and mind you’ll know that you’ve found somewhere you can live in for years to come.
Live in Luxury Real Estate: Boston Luxury Condos Specialists
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A native Bostonian, I am passionate about real estate and love working with people. I specialize in the Boston luxury real estate market and have worked with many C- level executives and high net worth individuals. I also enjoy working with new home buyers as well as buyers moving to the city from the suburbs, and did this myself several years ago.
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If you are a buyer, my foremost goal is to provide you with exceptional customer service and assist you in finding the perfect home in the right neighborhood to fit for your lifestyle and needs. Please utilize my Boston Luxury real estate expertise to make your home search and buying experience as stress free and rewarding as possible. We focus on the following Boston neighborhood luxury condos for sale:
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