[This is a guest post.]
The Boston area is connected to rich traditions of the neighborhoods within it. Whether it’s enjoying a sporting event at the Boston Garden or taking in the wonderful view of the waterfront at HaborWalk. Luxury Condos provide an excellent turnkey lifestyle that can let you enjoy the Boston area to the fullest. Anyone interested in an incredibly low maintenance property, with perks such as state of the art fitness centers, unprecedented dining experiences, and unique social calendars should be looking into a luxury condominium. Unfortunately, the process of finding the right purchase for you may not be as simple as the lifestyle that follows after signing on the dotted line. Understanding the following luxury condo myths will help you cut through the weeds and find the right luxury condominium for you.
Luxury Condos are riddled with hidden fees and expenses
All homeowners/condo association dues in Boston must be clearly documented and communicated to buyers before the purchase is made. There will be no unexpected surprise fees when it comes to purchasing a luxury condominium. If you would like to have an idea of what fees to expect in the Boston area before even going to check out the neighborhood there are plenty of research tools that allow you to do this and your agent can certainly help out!
Condos are an inconvenient hassle
This myth is actually the furthest from the truth. Luxury condominiums in the Boston area simplify your lifestyle tremendously! Most luxury condominiums in this area promote amenities like move in coordination, housekeeping, and even personal shopping services in their packages. Today’s Condominium complexes work toward providing you an easy resort style living experience.
You need a 20% Down Payment for a home loan
This is actually a myth that is relevant for anyone looking to buy a home, and not just condos in the Boston area! Saving for a down 20% down payment has kept approximately 70% of renters from buying homes, according to the First Quarter 2017 Homeownership program index (HPI). However there are many programs available to buyers that allow them to put as little down as 3%.
Contact Rosella Campion for more information about mortgages.
You lose your privacy
Many people have the idea that condos are cramped living spaces with far too many residents to maintain a peaceful and private lifestyle. The truth is that condo units come in all shapes and sizes! Many condo buildings in Boston offer features such as private terraces and balconies, and soundproof units. Complexes typically build their units designed to appeal to their specific residents,with the ability to block out as much noise as possible. It’s all about finding the style of complex that fits the lifestyle you’re looking for!
The building is under control by the property manager
There really isn’t much to say about this one besides the fact that it’s simply not true. The property manager is in charge of handling daily logistics and tasks. Condo buildings in Boston are typically run by a “board of directors” who are voted on by owners in the complex.
Condos don’t allow pets
As mentioned before, many Boston condos cater to very specific lifestyles of their owners. Some condos do allow pets and some don’t. It’s of great importance to check with the condo board about the buildings policy on pet ownership. This factors in with the finding the right complex that caters to your desired lifestyle.
Condos are inferior in construction to traditional Boston homes
When many people think about condos they picture thin walls and low-grade carpet. Modern day Boston condos are proving this stereotype wrong with the implementation of gourmet kitchens that have high end appliances and top notch materials, like quality wood floors with granite or marble countertops.
Condos are for the elderly
Homeowners are choosing condominium units over traditional houses more than ever today in Boston. The demographics on the rise for purchasing condo units include single professionals, divorcees, or partners without children. The hassle-free convenient living is incredibly appealing to anyone who doesn’t have the interest or time in the maintenance that traditional housing options require.
You can always rent out your condo
While this is a common perk, it’s not always true! Some complexes in Boston have regulations that block any renter from staying less than a year, and other complexes that do not allow renting at all! This is why it’s important to read the fine print in condo bylaws before making your purchase, the last thing you want it to purchase a condo that doesn’t cater to your ideal lifestyle.
Victoria Hemington: Victoria Hemmington is the lead content writer at The Landmark. Her sixteen years of experience as a resident in the Scottsdale area has made her an expert in the the area surrounding The Landmark Condominiums.