When buying a home, you’re making a financial and emotional investment in the community. Finding a community that is right for you is an important step toward home ownership. Having lived and worked in Boston for most of our professional lives, we have developed an intimate understanding of each neighborhood’s signature characteristics and housing inventory. Depending on your own particular needs and tastes, some of the following factors may be important considerations:
- Variety and availability of housing stock
- Property values
- Quality of schools
- Crime rate
- Future construction
- Location: proximity to schools, employment, hospitals, shops, beaches, parks, and cultural centers
- Such as museums and theaters
- Transportation: proximity to subway and bus lines, access to bike sharing locations, conditions of major
- Roads and volume of traffic during peak hours
If you’re a first time-buyer with limited financial resources, it’s wise to buy a home that meets your housing needs in the best neighborhood that fits within your price range. You can maximize your home purchase location by incorporating some of the following strategies into your neighborhood search:
1. Research upcoming neighborhoods: Look for communities that are likely to become “hot neighborhoods” in the coming years. They can often be discovered on the periphery of the most continuously desirable areas. Check for planned future development such as additional transit, new
Community services, and chain stores planning to move in.You might also consider a home in a neighborhood that is a bit farther out of the city. If commuting is a concern, purchase a home that is close to public transportation.
2. Evaluate neighborhood demand: Look at the neighborhood demand by asking your real estate agent whether multiple offers are being made, whether the gap between the list price and sale price is decreasing and whether there is active community involvement. You can also drive around
neighborhoods and see how many “sale pending” and “sold” signs there are in a particular area.
3. Consider co-ownership: Look into purchasing a condominium or co-op, rather than a house, in a desirable neighborhood. This way you still may be able to purchase in a prime area that you otherwise could not afford.
Our team has helped hundreds of clients find their dream home in Jamaica Plain, Roslindale, West Roxbury, Brookline and throughout Greater Boston. While we have a passion for the neighborhoods we serve, we’re actively involved in transactions throughout the Boston area. If you have questions about buying a home, or current market conditions, don’t hesitate to contact us .