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Identifying a Boston high rise condo for sale

How to identify a Boston high rsie condo for sale

Once you have been pre-approved for a mortgage, the nest step is to identifty a Boston high rise condo. First,  are “must-have,” what would be nice and what isn’t important? If you’re buying with a partner, make sure you compare lists and decide what can be compromised on and what will be the deal-breakers.

Experience is key here—we’ve all lived in places that at first glance we thought were suitable, only to find out later that the kitchen we initially thought was cozy was actually far too small for our needs, or that the seemingly bright living room only gets direct sunlight for a few hours a day. Don’t be afraid to ask friends and relatives about their experiences either, as they may be aware of something you hadn’t thought of.

What Can You Really Afford?

As mentioned earlier, before searching for a Boston high rise condo for sale, you need to know what you can afford.  By getting pre-approved for a mortgage first, you’ll know exactly how much you can borrow based on a professional assessment of your finances. Ultimately, this will make the whole process much easier. A trap that many buyers fall into is assuming that the maximum amount they can borrow is what they should spend on their new house. Look at what your monthly repayments would be and ensure that your budget factors in all ongoing maintenance costs, any fees you may incur from the buying process and any improvements you may want to make in the future.

Your budget should also allow you to put funds aside each month for emergency maintenance. If your heating system fails one winter, do you have the savings to fix it? Lastly, think about any potential changes to your income you may face in the next 5-10 years, how they could affect your ability to make payments, and whether there are any safeguards you can put in place.

Choosing a Boston high rise broker

Purchasing a Boston high rise condo can be extremely difficult without assistance from industry professionals; having the right team can be the difference between a smooth buying process and a costly disaster. Hiring a real estate agent provides numerous advantages. An experienced REALTOR® can find properties that you may otherwise miss, negotiate prices and recommend lenders. They’ll also be able to answer any questions you may have about a property, as well as any you may not have even thought to ask.

When it comes to lenders, be aware of the different types of loans available to you and how they can impact your long-term finances. Just because one lender is prepared to loan you more money doesn’t necessarily mean they’re your best option.

Location, Location, Location

It’s not uncommon for buyers to find their perfect Boston condo for sale, only to discover too late that the area it’s in is far from ideal. Take note of what you like about your current neighborhood and what you would change, and bear this in mind when scoping out potential locations. Take the time to explore the two-mile radius surrounding the property. Drive around in the daytime and at night. Would you feel safe and comfortable walking around the neighborhood at these times? Test your commute between the property and your workplace during rush hour. Could you do it every day? You can even spend a Saturday afternoon politely knocking on a few doors and asking your potential neighbors how they feel about the area.

Finally, remember that just because certain aspects of the location won’t affect you, it doesn’t mean they won’t be important to someone else if you decide to sell the property in the future. Even if you don’t have children, being in a good school district can add up to 20 percent to your house value.

Do Your Research

Doing your reasearch on a Boston high rise condo and area before you buy can take time and money, but the benefits far outweigh the cost. Look at general property values in the local area and study how they have changed recently. What are similar homes in the neighborhood selling for? This will help you decide whether the asking price is fair and could indicate what may happen to the value of your property in the future.

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