Boston’s booming Luxury Real Estate environment is one of the factors responsible for the city’s extraordinary reputation as an east coast hub for concerts, museum tours, nightlife, sporting events, food festivals, etc. The appeal of purchasing real estate is growing really fast across the US and in Boston particularly. With this trend set to continue for many years to come, there has never been a better time to invest in a Boston luxury property.
Although there is really no 100% guaranteed investment, real estate is among the safest and most stable when done right and the Paul Whaley team can assure you that it will be done right. Concrete statistics indicate with certainty that Boston luxury property is very much worth investing in. Often called ‘the college capital’ of the nation for its many first-class universities and colleges, Boston is also overly rich in culture and history. Furthermore, its well-known quality health care services combine with unique walkability, accessibility, seafood, sports DNA, touristic appeal, etc. to result in a generally high quality of life. This makes the city a very interesting place to live in or invest in Boston luxury property. Profitable investment properties are capable of bringing in both long-term net worth returns and shorter-term benefits in the form of monthly cash flow. Here are some reasons why investing your money in a Boston luxury property is a worthwhile investment.
- Boston’s Luxury Real Estate Market is Appreciating
Even though some real estate markets witness stagnant or temporary falls in value, the long-term market trend of real estate is usually upwards. Markets in Boston have constantly been on a rise for which makes now a perfect time to invest in Boston luxury property. And almost all real estate expert predictions indicate that home prices in the Boston area will rise in 2018 and beyond. CoreLogic suggested a 4.2% rise in 2018 alone with lower-priced homes experiencing even bigger appreciations. Like the whole country, Boston’s population continues to grow, implying that your property will definitely increase in value, in turn, meaning more money for you when or if you later decide to sell. Buying a Boston Luxury property as part of your long-term investment plan is a wise move.
- A Boston Luxury Property will Boost Monthly Cashflow
Increasing prices in the Greater Boston real estate market is pushing many people who would normally prefer to buy towards renting. This is yielding more monthly cash flow for real estate owners as rent prices are also on the rice. Real estate investors are usually very interested in this form of return since they may only reap the gains of conventional investments in the future.
It’s important to note that owning a property in this area can be costly. Tax reform in some of the high-cost areas like Massachusetts reduces homeownership benefits. So, you will have property taxes to settle together with property maintenance and your mortgage. They might sum up to be small payments over a few years, but you should always be prepared for important (sometimes) pricey repairs. No need to worry though, saving between 10% – 20% of your rental income will most definitely cover future maintenance projects. Investing in a Boston luxury property pays for itself!
- Holding an Investment Property in Boston will Improve Profitability
With cities like San Francisco and New York facing compression cap rates, institutional investors are moving their capital to the real estate market of areas like Boston. The many local universities, hospitals, tech industries, and robust life sciences make Boston particularly suited to accommodate them. This contributes massively to the growth of the industry in these parts and will boost monthly cash flow for investors and their net worth in the long term. Holding onto your Boston luxury investment property in Boston longer will most likely become more profitability especially as fixed-rate mortgage stays the same.
- Boston Luxury Real Estate Potentially provides Immediate Returns
A lot is being said about the long-term prospect of real estate property investment. However, you should know that in a real estate market as profitable as Boston’s, a good strategy on how to pay your costs will provide you with immediate gratification. This is perfect for people not intrigued by the volatility of the stock market. You get to own something concrete. Even secondary markets in Luxury Boston Real Estate are due to witness significant growth in popularity, especially those areas with considerable transit access. No one really needs more convincing to make the move and engage in a long-term investment in a Boston luxury property.