Once upon a time, the stereotypical dream home was that freestanding single-family dwelling with the white picket fence. These days—not so much. The median price of condos in Massachusetts is now only $20,000 less than the median price of a single family home. There are a number of reasons for this shift in housing preferences, including:
Location, location, location. The prices of downtown Boston condos are on fire, because people appreciate the convenience of walking to work, public transportation, and abundant entertainment options. A significant portion of this action is because baby boomers are selling their homes in the burbs, now that the kids are grown, and moving back to where the action is.
Low maintenance. Those baby boomers are also getting tired of caring for that sprawling suburban yard and aging home. Condo living requires a minimum level of upkeep, and young urban professionals who are jumpstarting their careers just don’t have time to whitewash that white picket fence.
High resale value. That lack of need maintenance keeps condo values higher than homes, which tend to require more work to keep that value. Many condos are also younger than the single family homes available in the same area, making them more attractive to buyers.
Convenience. The average American eats dinner out a lot more than prior generations, meaning that a variety of appealing restaurants is a higher priority than a tricked out kitchen at home. This makes condo proximity to the many great Boston eateries a high priority, especially for working families.
Amenities. Many luxury condos sport convenient amenities such as pools, tennis courts, gyms, concierge service, and entertainment areas.
If you’re looking to find a condo in Boston, you’re not alone, and that could make the hunt a bit of a challenge. That’s where the expertise of a Terrier Residential agent can help you. Feel free to contact any of our exceptional agents.