Posted on November 16th, 2012 by brusil
According to Boston.com?s BostonRealEstateNow blog, condominiums are replacing traditional starter homes throughout the Greater Boston Area.
The article shows that the construction of single-family homes has been dropping for years in and around Boston. And while some new homes are being built, they are typically large, expensive models that are out of the price range for families looking for a first home.
As a result, more young families and couples are looking at condos instead of homes. The article cites a report from Banker & Tradesman that shows a 23% increase in year-over-year condo sales for September, a stark contrast to the more modest 8% increase in sales for single-family homes over the same period.
Now, there are obvious differences between condominiums and homes, and depending on the specific size and needs of your family (or the family you plan on having), one option may provide a more clear cut advantage over the other. Either way though, you should keep your mind open to the option of a condo as a potential starter home.
BostonPads.com can help you find listings for condominiums and single family homes throughout the Greater Boston Area, and can also put you in touch with qualified real estate agents to help you determine which option is best for you and your family.
And here is a link to the original article: http://www.boston.com/realestate/news/blogs/renow/2012/11/condos_the_new.html
Filed under: Boston Home Buying Tips
Source: http://bostonrealestateblog.com/starter-home-vs-condos/
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