When you own real estate in Boston, you will have to invest more than just what you pay into your mortgage on your property. While specific figures are obviously subject to specific properties, here are some general ways to estimate costs you may incur as a result of owning Boston real estate. One of the biggest ways you can save yourself money in the long-run is not deferring maintenance. When something little comes up, it is best to fix it immediately rather than doing a quick fix. The priciest things to fix in your property are often the things that face the elements and changes of the season.
Things like the roof, siding, windows foundation, etc. generally deteriorate the fastest. Next down the list when it comes to pricey home costs are the repairs or renovations related to kitchens, bathrooms, etc. They tend to require multiple professionals such as plumbers, electricians, and carpenters. In addition to renovation, routine maintenance will be necessary. As condos age it requires touch-ups.
Things like paint, replacing shingles, old boilers, and more can add to the cost of owning Boston real estate. Remember to keep all of these things in mind when you look at real estate property in downtown Boston.
Tell your real estate agent where you feel comfortable in regards to housing costs and he/she will find a property that fits your needs.
If you are interested in purchasing condos, luxury apartments, or real estate, contact High Rise Boston to discuss your Boston real estate wants and needs.