Profile of a Typical Boston Real Estate BuyerFebruary 23, 2013
The local real estate market is rapidly changing. Some of the best Boston neighborhoods have become a desirable place to live nationally, and the residents are becoming more and more eclectic and heterogeneous.
The Best Boston Neighborhoods Attract Variety
There was a time that families living in the luxury neighborhoods in the city, like Beacon Hill, the South End or Charlestown, were the ones who had lived there for generations. Any newcomers were strictly young professionals who moved to the city to take advantage of the cultural activities and vibrant night life. That has changed drastically in the recent years.
Now, the young professionals who moved into the city years ago are developing families and opting to settle in metro Boston, rather than relocate to the suburbs. Even though each neighborhood offers different property price ranges, all areas are now more family oriented than the past few decades.
Keep in mind that buyers need to have a large income to afford property (and taxes) in the Back Bay or Beacon Hill. But there are other options equally as good, like the South End and the booming South Boston area, including Fan Pier. And don’t underestimate Midtown with its luxury new Millennium and Ritz Towers, among other residential meccas. And Charlestown has become very family oriented and has a fantastic view of the city landscape at night.
Buyers tend to be fixated on a particular neighborhood when they begin their Boston real estate search. Once they get acquainted with other areas, they quickly realize there are a variety of choices with advantages for each. Be open minded throughout your search and explore the full spectrum of Boston real estate options.
No specific demographic is settling into one area anymore. It’s an exciting time to invest in local real estate! Contact me to find out what’s on the market now.