Buying a condo can be an excellent choice as an affordable alternative to renting. This is especially true as Boston rents have risen dramatically over the past few years and continue to do so in hot neighborhoods. When you can lock in a fixed monthly mortgage payment, and consider the tax benefits and appreciation potential, ownership often proves to be a much wiser way to spend your housing payments as compared to renting.
You may be surprised to hear that you don't need huge savings for a downpayment to buy a condo. There are many programs for first time buyers that allow you to buy with as little as 3.5% down. Here are some of the key benefits to condo ownership:
-No landlord telling you what you can or can't do with your home
-Customize to your liking, renovate, paint, update, etc
-Tax benefits: Mortgage interest deduction, depreciation
-Build equity over time instead of giving all of your monthly payments to a landlord
-Use as an investment vehicle if you decide to move, rent it out
-Condos are generally more affordable than buying a single family or investment and require lower maintenance costs and lower downpayments
Please inquire below if you'd like us to send you daily updates on available condos or for a free consultation. Should you decide to buy we offer FREE buyers representation services.