Are Brownstones Taking A Back Seat in Boston Real Estate?November 17, 2014
With the abundance of brand new, large construction projects throughout the city, buyers and sellers might think historic brownstones are taking a back seat when it comes to Boston luxury home sales. Each new luxury building project is trying to outdo the next with services and amenities to attract young and old buyers.
It’s true that the demand for high-rise or midrise condos has increased drastically with all the new buildings in the South End, Back Bay, Midtown and Seaport. These Boston luxury homes are providing services such as garage parking, fitness centers, 24/7 concierge, club rooms, and the list goes on, depending on the price point of any given project. Some buildings even have hotel services as well. Given the conveniences and easy living in these Boston luxury homes, buyers are naturally gravitating towards new construction units.
However, there’s still a strong segment of Boston real estate buyers who are still charmed by living in brownstones and they seek out homes that commemorate Boston’s rich history. To compete with brand new projects in terms of price and convenience, brownstone owners have to update their property. Most renovated single family homes in the city now have an elevator and all the modern conveniences that they lacked before, including central A/C and part time concierge services. Condo unit owners should also be cognizant of the competition in luxury high-rises and make updates to the best of their financial ability. Ultimately, it only adds to the property value and increases its sale-ability.