The emotional impact of buying a Boston luxury condo

Many things can occur after purchasing a downtown Boston luxury condo. Budgets often have to be altered to make room for home improvements and unforeseen repairs, and adjusting to a new neighborhood and living space can take some time as well. However, owning a Boston luxury condo can also have a more significant positive impact on your emotional well being.

The Realization of a Larger Responsibility

Families often live in rental properties together before purchasing their own downtown Boston condo. Though being a renter has its responsibilities, they are usually minimal. Becoming a homeowner puts you in charge of anything and everything involving the living space. Though this may be overwhelming at first, once you adjust to this way of life, the greater responsibility may result in pride of ownership and higher self-esteem.

An Increased Opportunity for Positive Self-Esteem

If you consider buying a downtown Boston condo an important goal, achieving this goal can indicate great success, leading to a higher self-esteem. Self-esteem can also be influenced by how others perceive you. Many families maintaining their homes love to show them off to their friends and extended family because it offers an outside perspective on feeling good about personal accomplishments.

The Home Becomes an Extension of the Self

Personal self-definition is important for most people, and this feeling extends itself to homeownership. A survey found 88 percent of married couples believed purchasing their first home had a positive impact on how they thought of themselves as a couple and a family. Many families’ bonds become stronger and more meaningful because they are reaching their dreams and goals together.

A More Supportive Environment for Children

A study in 2000 by Haurin, Parcel, and Haurin, researchers from Ohio State University, indicated parents who were homeowners provided a more emotionally supportive environment for their children. This may have resulted from financial and residential stability, which often allows more room for better parenting. Another possibility is that being a homeowner often makes families a more integral part of their communities. They feel a greater responsibility to the neighborhood and its schools, and their children can reap the emotional benefits.

Purchasing real estate in downtown Boston can have an emotional impact in a variety of ways. It can be upsetting to lose a potential home you loved in a bidding war, and figuring out everything you need in a home can sometimes be stressful. However, once you’ve closed and the keys are in your hand, be prepared for a positive experience. To learn about some of the gorgeous properties up for sale in the downtown area, contact us at 617-720-5454.