Archive for the 'Buying or Selling Homes' category
Reasons to own a Boston rental property
In addition to the fact that Boston, MA is an overall great place to live, owning a Boston rental property is a very smart investment for reasons other than just Boston’s appeal.
Out of the 100 plus colleges located in New England, half of them have campuses located in the Greater Boston area. In fact, about one fourth of Boston’s population is college students, which means approximately 160,000 college students come in and out of Boston rentals every year. Some even call Cambridge the “original college town”.
In addition to the large student population in need of a Boston apartment to rent, Boston’s tight development laws and even tighter amount of undeveloped land make rental properties a hot commodity. With a smaller stock of Boston apartments, students need to outbid each other to secure their Boston apartment for rent, while the property owner gets to reap all the benefits. Additionally, these investments seem to be recession-proof. Despite the current economic conditions, Boston real estate has fared far better than other major US cities.
Convinced yet? Check out our listings of multifamily and apartment complexes for sale.
Top 5 Biggest Mistakes of Home Sellers
In an article released today by Chris Seder, He outlines the biggest mistakes that you can make when selling your home. The following are some highlights, outlining the pitfalls to avoid if you are preparing to sell.
1. Neglecting the Fine Print in your Realtor Contract. Make sure that you go over the fine print of your contract with a real estate agent or lawyer to fully understand the conditions that you are selling your home under.
2. Jumping in with no research. For Sale by owner homes can be difficult, as you never know what to list at. Do some research, and understand what people in your area are buying homes for. The value you think your home has may not reflect in the market.
3. Failure to market your home. You really have to promote and market your property if you want it to sell – waiting for the buyers to come to you may not be the best way to go about selling.
4. Personal Home Staging. When potential buyers come to view your home, remove all personal items and family photos. You want to give the local buyers the idea that this could be their home, not that they are buying it from you. Also remove your home of clutter, as it can make your home for sale feel smaller.
5. No effort to “stand out”. If you are trying to sell in a fairly competitive housing season or market, prepare yourself by visiting other Boston homes for sale in your area. This gives you a great sense of the market, and what is being offered for what price. You can also list what you find appealing in these other homes, and try to apply something similar at your own open house.
(Read more seller don'ts from the full source article here)
Understanding Boston Apartments
The language of Boston real estate and Boston rental property can be confusing. Things are not always as straightforward as having 3 roommates, and then looking for 3 bedroom apartments. Phoenix realty has a helpful rentals and sales search tool, (on the left of your screen) but if you plug in 3 beds, you will find 3 bedroom splits popping up. Do you know what this means? Or say you want to live on your own: what is the difference between a one bedroom apartment and a studio?
So, to help break down some of the mystery behind these terms, of take a look at the following terms to better understand what it means to rent what for your next apartment. We also have some great Phoenix listings of Boston apartments for rent to take a look at!
Studio
Studio apartments generally have a single, large space as their floor plan. This means that there is no closed off bedroom, as your living room, bedroom, kitchen, and dining room will share the same space. This can be a great option for one person (or one person with a significant other to share a bed) to have a free working floor plan - just be careful not to have too many items or furniture, as the space can appear cluttered. However, it is easy to re-decorate for the restless nester, and furniture of any size can easily fit in multiple places without being obstructed by walls and doors.
(#) Bedroom Apartments
1 bedroom, 2 bedroom, 3 bedroom or more Boston apartments all mean the same thing: you have separated bedroom(s) from the rest of the living space. This will give you a lot more privacy than a studio apartment, and in some cases will give you a foyer or small living room area to entertain. This is the better option if you have more things to organize, and you do not want guests to see where you sleep if you can be on the messy side. (Phoenix listing sample of a 2 bedroom)
(#-#)Split Apartments
Split apartments are actually bedroom apartments that are further subdivided in terms of rent. This usually happens when all the rooms have doors, and one bedroom becomes a living room. So what is considered a 1/2 bedroom split is actually a 2 bedroom, but the second bedroom is used for a living room instead of having a second roommate to constitute a 2 bedroom. (This is applicable for 2/3 bedroom splits, 3/4 bedroom splits, etc.) This is a great option for those roommates who are looking to save some money on rent who don't feel a need for a seperate living room - some apartments have spacious hallways or foyers which can serve as appropriate "living room" spaces.
CondoApartments for purchase are referred to as condominiums. While they can be strinkingly similar to rooms available in everyday apartments, the buildings they are kept in tend to be of higher quality. This occurs when a developer finds an apartment building, rennovates the units, and then sells them as condos. As a result, this higher quality building can offer more conveniences, and be more expensive to rent.
Half (or Less) Bathrooms
Full bathrooms are defined as having four parts: a toilet, sink, shower, and bathtub. A 1/2 bathroom just has a sink and a toilet. A 1/4 bathroom just has a sink, while a 3/4 bathroom has a shower stall, sink, and toilet. 3/4 bathrooms do not have tubs, so you cannot take a bath.
Have a better idea of the Boston apartment you'd like to live in, or see a listing that you like? Contact us today to schedule a viewing!
Featured Listing: Cambridge
Today's featured listing is on Memorial Drive in Cambridge. This studio apartment is in a great location, with all the conveniences of Cambridge within walking distance. Residence at this listing puts you in a prime spot in Cambridge, being proximate to Kendall Square, MIT, Charles Park and CambridgeSide Galleria. Have a car? The Mass Pike and Route 93 are very accessable.
You'll also be right on the Charles River so expect scenic river views - and the rooftop club room features a full kitchen and terrace, which is a perfect spot to meet up with friends while taking in the beauty of the river.
There’s also a state-of-the-art, rooftop fitness room complete with spectacular panoramas. The apartment comes with a landscaped, common courtyard, laundry in the building, on-site management office, 24-hour concierge, and 24-hour emergency maintenance.
Want to learn more? Read the full listing here and make sure to contact us today to make a viewing appointment!
GO GREEN- Live and Work in Boston!
Just in time for Earth Day on April 22nd, a new report released by the Urban Land Institute (ULI) called the Boston Regional Challenge, details the true cost of housing and transportation for people (and the environment) in Boston and the surrounding communities. The report finds that the average working household in the Boston region spends over $34,000 a year – or 54% of their income – on the combined costs of housing and transportation.
To read the full report, you should visit www.BostonRegionalChallenge.org
While you’re there, take the time to experiment with the free Cost Calculator that visitors can use to accurately determine their combined housing and transportation costs based on where they live, where they work and how they commute. If you’re thinking about moving, we suggest you try this tool out to help you evaluate your options!
The Boston Regional Challenge also demonstrates the unintended environmental impacts of our living and commuting practices. For example, in the Boston region, transportation accounts for 41% of greenhouse gas emissions, compared to 33% nationally, due in part to a large number of people living in Greater Boston’s suburbs and commuting via car to work in the city. As reported in Boston Regional Challenge, households in more densely populated areas like Boston proper produce less than half the total metric tons of CO2 per year than households in lower density areas such as towns outside of I-495.
If you work within the city and choose to live in the Boston proper area, the study shows that the increase in housing costs associated with living in the city are actually offset by the savings of a shorter commute. Not only can living in the city be more fun, but it can be more affordable and better for the environment, too!
So go ahead and use the Cost Calculator on the Boston Regional Challege website and see if moving closer to the city is a good choice for you! Then use our search tools to help you find your ideal Boston apartment, condo, or house!
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