Boston is one strong renter’s market
. And there are several reasons for that.
For one, a super technical Boston Real Estate Agent will say that the median home price is quite expensive due to a chronic problem of higher demand than supply. However, a more socially aware Boston Real Estate Agent will mention that this is one of the best cities for singles
in America and that leads to the preference to rent. Why? Let’s see:
While it’s one of the oldest cities in the United States, Boston attracts a lot of young people. It has some of the most prestigious universities in the world; have you ever heard of this little college called Harvard? Cambridge? MIT? Its diversity of entertainment options, population and public transportation, not to mention a nice healthcare hub, is also inviting to young who come to Boston to enjoy a healthy job market that is not as oppressive as New York and offers a lot of opportunities in industries that are commonly populated by young people – like finances and technology. The thing is: these young fellas are only starting their professional lives; they dont have that much funds to spend on buying houses, which, finally, leads to rent.
But whatever is your gameplan regarding The City on the Hill, you better include a Boston Real Estate Agent in it.
For the competitiveness of this real estate market alone, you’ll see that everyone goes about the renting process with a Boston Real Estate Agent by their side. But another reason it’s super important to contact a Boston Real Estate Agent when renting is the layout of the city. Boston is proud of its heritage, so it conserved a lot of its 2-3 unit houses - it’s fair to say there are more of those than there are apartment complexes in. Together with the rising housing market prices, more people rent than own. But that’s not all… you’ll find more inexperienced Landlords than “professional” ones that are so normal with apartment complexes, where sometimes a company buys all units (or most of the units) to rent and, in some cases, even assigns a building manager to deal with everything. Which can be a good thing for a number of reasons, but pretty bad when it comes to your rights. Having a local Boston Real Estate Agent by your side that knows all the Massachusetts Landlord-Tenant Rights
and avoid the pitfalls is vital! Don’t hesitate on contacting one of the guys here on this page!
Now, even if money is not a problem to you and your idea is buying a house; one important thing to understand is that Boston is actually a “concept”; a patchwork of cities and towns where you might as well live your whole life in your enclave/bubble. If you don’t have a Boston Real Estate Agent to translate the areas for you, you might miss opportunities – or get the wrong ones – that will make your life miserable commuting to work and such.
Whatever you do, great choice! The city on the hill is a delight. You don’t need to have a car to live there; the city is pretty walkable and bikeable – when it isn’t snowing, of course. The food is great, the sports teams are basically royalty (The Celtics, the Red Sox, the Patriots and the Red Wings… come on) and it’s, in comparison with other major cities, a pretty safe town.