Choosing Between a Home and Condo in Boston

When you decide to buy a home in Boston, there’s so much to consider. The number of bedrooms and bathrooms are important details, as is making sure you choose the right neighborhood. But before making any decisions or beginning your search, you’ll first need to decide if a single-family home or a condo will be the right fit for your budget, lifestyle, and preferences. Both a home and a condo offer different perks and drawbacks, so it’s important to examine both options closely before taking the next steps.

Location

If you place value on outdoor space, a neighborhood feel, and ample room for hosting guests, you may want to start looking at single-family homes in the more residential areas of Boston. If living in the middle of the action where restaurants, shopping, and entertainment are steps from your front door, a condo in one of Boston’s bustling neighborhoods will better suit your lifestyle and preferences.

Responsibility

How involved do you want to be in the upkeep of your property? Opting for a single-family home places all maintenance and repair responsibilities on your shoulders. If you choose to buy a condo downtown, then everything from snow removal, to landscaping, to garbage pick-up is usually covered by a monthly fee paid to the association.

Privacy

Living in an urban environment, you’re likely to bump into neighbors in the hallway and share an outdoor space. If you’re the outgoing type who doesn’t mind sharing a wall or two, condo living will be the perfect choice. However, if you relish alone time and prefer the privacy of your own backyard and garage, a single-family home may be a better choice.

Affordability

Take a careful look at your finances and determine how much you can afford to spend on a new property. Condos are typically move-in ready and less expensive, but often require homeowners to pay monthly association fees. Single-family homes are free from the jurisdiction of a homeowners’ association, but may fall outside of your price range. It’s a good idea to get pre-approved for a mortgage before you begin your search so that you have a rough estimate of what you’ll be able to afford.

After taking a look at the above considerations, I hope you feel prepared to make a decision between buying a single-family home and condo in Boston. If you have any questions that I haven’t covered here, please reach out to me! As a Boston real estate agent, it’s my pleasure to help home buyers realize their dreams and guide them towards owning a property they’ll love to call “home.” I look forward to connecting with you when the time is right!

Ken Snyder
Keller Williams Realty Boston-Metro
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Boston Restaurant Week Summer 2013

Once you decide to buy a home in Boston, there’s no better way to explore your new stomping grounds than to taste your way around the city. From Italian restaurants to steakhouses, Boston’s culinary scene offers something to satisfy your every craving. The only problem is finding the time (and cash) to hit all of the best spots in town. Fortunately, Boston RestaurantWeek gives residents and visitors the chance to sample some of the most fantastic food in the city at a price that can’t be beat. Because your options for dining during Boston Restaurant Week are so overwhelming, I decided to make a few suggestions broken down by neighborhood.

Back Bay

Davio’s – Italian Steakhouse

75 Arlington St, Boston, MA 02116

Beacon Hill
Lala Rokh – Middle Eastern

97 Mt. Vernon St, Boston, MA 02108

Downtown
No. 9 Park – French and Italian

9 Park St, Boston, MA 02108

North End 

Taranta – Italian and Latin American

210 Hanover St, Boston, MA 02113

South End

Aquitaine – French

569 Tremont St, Boston, MA 02118

Waterfront

Del Frisco’s – Steakhouse

250 Northern Ave, Boston, MA 02210

With tasty pre-fixe menus starting at just $15.13, you can afford to taste your way around Boston all week long. Remember, the first leg of Boston Restaurant Week wraps up tomorrow, August 23^rd and resumes next week from August 25^th through August 30^th. What restaurants are you most looking forward to trying? Feel free to share your recommendations on my Facebook page! While you’re there, take a look at all of the articles I’ve recently posted for buyers and sellers in the Boston real estate market. If you have any questions or would like to take a look at some properties in the area, please reach out to me directly. I’d be thrilled to help you find your next home in Boston.

Ken Snyder
Keller Williams Realty Boston-Metro
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Understanding the True Costs of Homeownership

When you’re considering buying a home in Boston, it’s important to take a close look at your finances. As you may already know, it’s recommended that you make a 20 percent down payment at the time of purchase. The difference between the cash you put down and the sale price is covered by a loan with payments made to your lender each month. Beyond paying down the principle and interest on your mortgage, there are several other fixed and varying costs associated with homeownership. To make sure you’re prepared for the financial responsibility that comes along with owning a piece of the Boston real estate market, I’ve summarized some of the expenses you can expect on an ongoing and intermittent basis.

Fixed

Property Taxes

Once you buy a home in Boston, the amount of property tax you’ll pay will depend on the value of your home. The more expensive the property, the more you’ll pay in taxes. You can use a property tax calculator to get a rough idea of what you should budget.

Homeowners Insurance

As a homeowner, it’s highly recommended to protect your largest asset with homeowners insurance. In the event of damage or destruction, you want to be sure you, your loved ones, and your valuables are covered.

Homeowner Association Fees

If you buy a condo or townhouse, or choose to buy a home in Boston that is within the jurisdiction of a homeowner association, you will have to pay a monthly HOA fee. Costs covered under this fee can include everything from landscaping, to maintenance, to garbage and snow removal.

Intermittent

Repairs & Maintenance

Unless you live in a condo or townhouse and pay a monthly HOA fee, buying a home in Boston means paying for your own home repairs and maintenance. You’ll be on the line for everything from minor touchups to major projects, so it’s advised you have an emergency fund to dip into.

Exterior Upkeep

Even if you go the do-it-yourself route, costs associated with landscaping, snow removal, and driveway and sidewalk upkeep can add up. Be sure you factor in these expenses when setting a budget for your new life as a homeowner.

Remodeling Projects

One of the most liberating things about homeownership is having the ability to make your space your own. However, remodeling every room in your home comes at a price. Redoing your hardwood floors and modernizing your kitchen or bath can be very costly, so prioritize what needs to get done first and spread the projects out over an extended period of time.

I hope this summary has given you a clearer picture of the financial commitments of homeownership! Though there are a variety of costs involved, the pride in owning a home and the equity you’ll build over time are well worth the ongoing and intermittent expenses. If you’ve set aside enough money for your down payment, closing costs, your first several mortgage payments and an emergency fund for repairs, you’re well on your way to buying a home in Boston. Please contact me when you’re ready to kick off your search!

Ken Snyder
Keller Williams Realty Boston-Metro
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Boston's Best: Shopping Districts

From specialty boutiques, to high-end stores, to sprawling shopping malls, you’re never too far from filling your retail fix in Boston. Whether you’re in search of a unique piece to add to your wardrobe or the latest kitchen gadget to prepare tonight’s meal, there is a multitude of shopping centers within immediate reach. If you just feel like window browsing and enjoying the last few weeks of summer, there are plenty of opportunities for outdoor shopping in the area as well. In order to prep you for your impending trip to Boston, here’s a quick roundup of places to add to your “must-see” list.

The Shops at Prudential Center

Prudential Center is the place to go if you’re looking for a last-minute ensemble for a night on the town. High-end stores like Chanel, Gucci, and Saks Fifth Avenue dominate this shopping center, yet make way for specialty shops like Teavana, Yankee Candle, and Vera Bradley.

Newbury Street

Once you buy a home in Boston, I’m confident Newbury Street will become one of your go-to destinations for shopping and dining. This picturesque, outdoor shopping district has everything from home goods, to salons and spas, to cafés, to apparel and shoe stores. This eight-block stretch in the Back Bay is certainly a place you’ll want to visit more than once, so manage your time accordingly!

CambridgeSide Galleria

This indoor shopping center has a beautiful waterfront location in Cambridge. Conveniently located on the T, CambridgeSide Galleria is easily accessible by public transportation and offers a wide variety of stores including Best Buy, Macy’s, Sephora, J. Crew, and H&M. Casual dining options like the Cheesecake Factory and California Pizza Kitchen will satiate any hungry shopper’s appetite.

With this knowledge under your belt, you should be fully prepared to indulge in a bit of retail therapy once you arrive in Boston. If you’ll be in town this weekend, you’re in luck. You’ll enjoy tax-free shopping and extended store hours at many places in Boston. If you’re planning to buy a home in Boston this summer, there’s still time to get settled just in time for the school year to begin. As your Boston real estate agent, I’ll make it a priority to help you find the perfect home or condo in one of Boston’s vibrant neighborhoods. I look forward to connecting with you when the time is right!

Ken Snyder
Keller Williams Realty Boston-Metro
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4 Myths About Buying a Home in Boston

Have you finally had it with renting? Are you ready to settle down in a permanent residence? Congratulations! You’re on your way to achieving the American Dream of homeownership. If you’re new to the home buying process, it’s natural to turn to family members and friends who have already journeyed through the Boston real estate market. While hearing firsthand experiences about the ups and downs of buying a home can be useful, they tend to perpetuate home-buying myths that just aren’t true. In an effort to bust some of the rumors circulating amongst first-time home buyers, here are a few myths debunked.

1. Owning a home is more expensive than renting

No way! As I’m sure you’ve noticed, the cost of renting increases every year. When you purchase a home, a fixed-rate mortgage ensures your monthly payments will be consistent over the life of your loan. Not to mention, there are also many tax benefits to owning a home.

2. You need a 20% down payment

This isn’t necessarily true. While it’s generally recommended that buyers put down as much cash as possible to save on interest, you can put down as little as 3.5% with a government backed loan.

3. The mortgage process is too complicated

Not at all, in fact. Nowadays, online applications make the process quick and easy. Applying for a mortgage can appear daunting to a first-time home buyer, but most lenders have online assistance for last minute questions that come up. You can always reach out to your Boston real estate agent, too!

4. You can’t get a mortgage unless you have perfect credit

While your credit score is important, it doesn’t have to be perfect to qualify for a loan. However, the higher your score the more options you’ll have when shopping for a mortgage. Government backed loans tend to have lower minimums than many other programs.

As you can see, buying a home in Boston is less complicated than you think. That is, if you enlist the help of a knowledgeable real estate professional. The best part about using a Boston real estate agent to walk you through the home buying process is that there is no cost to you! Once you’re ready to dive head first into the Boston real estate market, let me know. I’ve helped countless home buyers find the perfect home, and I’d love the opportunity to do the same for you. I look forward to chatting with you soon!

Ken Snyder
Keller Williams Realty Boston-Metro
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