4 Reasons To Consider Buying a Home in Boston
August 2, 2021, 6:37 am
Boston is well known for its partying and fun personality, and yet people are moving there for plenty of other reasons. Boston has a thriving economy, intelligent city design and is seeing the best housing market that it's seen in over five years. So if you're considering buying a home in this amazing city, here are the top reasons why that might be a great choice!
Interest Rates are Lower
Interest rates in Boston have been getting competitively low. This benefits buyers because it means that in the long run, you'll pay far less for your home than you would with a higher interest rate. Although the interest rate is still affected by your credit score, to some degree, there's no ignoring how much cheaper Boston houses for sale can be with the right interest rate. But, of course, a low-interest rate isn't everything. Ensure that you have the money for it before choosing to move ahead with a purchase, or this could force a redo of the housing market crash of 2008.
The City is Gearing Up for an Economic Boom
Although the housing market is wild everywhere in the country right now, Boston has been gearing up for an economic boom for the last couple of years. Increased investments in the city's infrastructure and intelligent city planning mean that this east coast hotspot is headed towards higher property values. This means that buying a home in Boston now could save you a lot of money in the long run and allow you to turn a profit quickly if everything goes according to plan.
There are Multiple Programs for First-Time Buyers
Both Massachusetts and Boston have countless programs in place for first-time homebuyers. Although there's no guarantee you'll qualify for any of these, applying for them is better than going without any. For example, some programs allow for assistance with down payments, leaving buyers with only 3% of the down payment instead of having to pay the full 10% to 20%, while others will help you get your interest rates even lower. This makes it far more attainable than home buying would be otherwise.
Boston Is Ranked High As a Great Place to Live
Every year Boston surprises and entertains as it ranks higher and higher on lists of the most desirable cities to live in. There's something unique about the culture of Boston, being both a college town and one with its unique flavor of fun and entertainment. Making Boston your permanent place to live will give you the chance to get to enjoy endless theater, wonderful sports events, and nonstop musical performances that can make it even more incredible. This city is the must-move-to location of the year, don't hold back!
Boston has many stereotypes against it, but if you give the city a chance and get to know the locals, you might realize that there's more to this city than you think. The perks for new homeowners, the economic boom on the horizon, and how highly ranked it is year after year make this a premium place to live.