Most of you reading this article are already denizens of the Boston area; take this introduction as a reminder of why you moved here in the first place. Boston is inarguably one of the most historically significant cities in America, featuring monuments, memorials and attractions such as The Boston Tea Party Ships & Museum, The Bunker Hill Memorial, Fenway Park and dozens more. Bostonians are culturally rich, with such national treasures as The Boston Pops, the Museum of Fine Arts and many more. The Boston area hosts Harvard University and The Massachusetts Institute of Technology (MIT), two of the most respected educational institutions in the world.
The city is rife with notable neighborhoods like upscale Beacon Hill, North End, Back Bay, Waterfront and many more. Boston also boasts top-rated teams in all four major sports leagues:
- The Boston Red Sox, baseball;
- The New England Patriots, football;
- The Boston Bruins, hockey;
- The Boston Celtics, basketball.
These are but a few excellent reasons to live and own a luxury residence in the Boston metro area.
Photo of Fenway Park by Jared Vincent via Wikimedia Commons
Real Estate Choices and Choice Real Estate
If you’re in the market for a luxury property in the Boston metro area, you have plenty of options: buy or rent single family homes, multi-family homes, condos and apartments. Prices run the gamut from relatively affordable to “price is not a factor.” One of the best strategies to narrow down your choices is to access a free online real estate search service, and then pick the type of residence and neighborhood you’d like to live in. From there, you can go on to specify the square footage, number of bedrooms, baths, etc. And, if price IS a factor, you can indicate a minimum/maximum range.
Photo by Ingfbruno via Wikimedia Commons
Don’t Forget the Hidden Costs of Home Ownership
You’ll want to bear in mind the ancillary costs of owning and maintaining your property like property taxes, homeowners insurance, condo fees, home association fees, utilities, landscaping, and pool and other maintenance. These items represent the costs that aren’t actually hidden. You can get exact amounts from bills you receive and contracts you signed. The really hidden costs include:
- Commuting expenses (How much more will it cost than before?)
- Covenant compliance (Did you agree to paint your house every fews years, whether it needs it or not?)
- Amenities fees (If the condo/apartment is located within a hotel.)
- Trash removal or maintenance for septic system pumping (for rural neighborhoods) you didn’t have before?
Photo of Newbury Street by Ingfbruno via Wikimedia Commons
Example Pricing Guide by Neighborhood, Type of Structure and Square Footage
- 3 Battery Wharf — In-hotel condo, 2048 sf; $2,895,000
- 107 Myrtle St, Beacon Hill — Single-family, 2,587 sf; $2,299,000
- 376 Commercial St — North End Apartment rental; 1,300 sf; $4,400 / month
- 99-105 Broad St — Waterfront condo; 1,345 sf; $1,050,000
