Over the last couple of decades, while living in Boston, have seen quite a number of major development to be built on a breakneck pace. Not too surprisingly, most of these luxury apartments are top-end luxury apartments which the average commoners just can’t afford. However, what is the big attraction for these so-called luxury properties? And how do you buy one in Boston for less than you thought?
The attraction for most of the luxury apartments rests upon their location. Boston is the city with the highest concentration of new construction in the Eastern seaboard. While in some area’s property values have declined, in others such as Beacon Hill, luxury apartments have been built to offer the same views of the ocean and downtown city life enjoyed by the locals. This is what makes the area so desirable for new development. Developers have realized that they can make a killing in this high-demand area simply by putting in high-rise luxury buildings and then offering rent at a discounted rate.
How do you find luxury apartments in Boston for rent at a great price? Well, if you want to buy, you’re not going to be able to afford the older models of luxury apartments in Boston. Most developers prefer to build new units where they can build a loyal clientele. For them, loyalty starts with the average rent a resident pays. That’s why a large percentage of luxury apartments in Boston are newer models with updated kitchens, large bathrooms and fully equipped modern bedrooms and living rooms.
Another reason why many investors choose to buy luxury apartments is the view offered from their units. Many new high-end apartment buildings surround the complex on all sides with lush greenery and trees. Some have also added swimming pools or even tennis courts to the grounds. Offering scenic views of the city are a big attraction to potential buyers, not to mention that buyers are offered a considerable appreciation factor by these buildings.
Luxury one-bedroom dwellings are in demand as well. They fit the bill for renters seeking to supplement their income or those who are simply seeking to downsize. Luxurious apartments in Boston that offer more space than a one-bedroom unit do come with a bit more costs. For one thing, they are generally much larger and require more construction materials and labor to build. But one-bedroom dwellings are ideal for small home-based businesses, like restaurants and cafes, or for students who need space but don’t want to share with other students.
If you’re looking for a luxury apartment in Boston for rent, you’ll have plenty of choices. In addition to the large number of brand new, high-rise structures, there are also plenty of older structures that are in good shape and ready to rent. For example, the John Hancock Tower, near Boylston Street, is a beautiful contemporary building and one of Boston’s best attractions. It has an unobstructed view of both the river and the skyline of Boston. But it’s also one of the most expensive luxury apartment buildings in the city. Only those with the biggest bank accounts and the most opulent tastes can afford to live in one of these New York City high-rises.
And for those who prefer a more casual living environment, Boston offers a multitude of lofts. These one-bedroom apartments feature all the amenities of a normal apartment, including fireplaces, kitchenettes, and living rooms, but they are usually smaller than traditional apartment units and many feature an outdoor patio or balcony. The lofts are perfect for families or single individuals who appreciate the open floor plans of these Boston apartments, and they generally range from modest to luxurious, depending on the type of loft and its location.
When it comes to purchasing a luxury apartment or a luxury condominium, buyers often consider only one aspect: the cost. But luxury apartment or luxury condominiums can also be affected by a variety of factors, including location. Buyers may find that they are better off buying a condo in an area that includes a subway system or a bus line, or near some major public transportation options. As for location, potential buyers may be better off if they purchase an apartment or condo in an area where there is an abundance of open space. And of course, no matter where they choose to move into, buyers should keep in mind that all three of these elements need to be in place for them to be as happy and satisfied as possible when they finally own their new Boston apartment or condo.