Rent vs Buy in Boston>Question Details

Jeff Bowen, Real Estate Pro in 02128

Why do you think Boston rents and prices are rising the fastest in the whole country? Rent or buy? Do you like the idea of furnished rentals?

Asked by Jeff Bowen, 02128 Thu Jan 3, 2013

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6
It is a matter of supply and demand. We have a big demand for all types of rentals - students, professionals, relocations etc. Supply is currently low but there are many new construction projects under way with rental units so that should help ease the supply in coming years.

Furnished rentals will suit some people especially if looking at a rental period of less than one year.

Rent or Buy - great question and it comes down to your personal situation. With rents as high as they are the possibility of selling should be considered. Some basic elements include the need for a good credit and employment history, cash reserves for deposit and closing costs, long term plans to stay in the home. This is a great opportunity for the right buyer.

As always, FurChin at RE/MAX Unlimited is Your Real Estate Solution for Greater Boston. Feel free to contact us if we can help you in any way - jamesfurlong20@gmail.com, 617 620 0669.
0 votes Thank Flag Link Fri Jan 4, 2013
Keep in touch with Boston rental prices and availability through our state of the art websites:
http://Luxurybuildingsboston.com
http://bostonluxuryresidential.com
Best regards,
0 votes Thank Flag Link Thu Jan 3, 2013
Ted is right, it is supply and demand.

One big factor is demand is that it is still hard to get financing to purchase, so many people are 'forced' to rent.
0 votes Thank Flag Link Thu Jan 3, 2013
I agree with Ted: It's all about supply and demand.

Best Of Luck
0 votes Thank Flag Link Thu Jan 3, 2013
Purely supply and demand. Why the demand? Jobs are better here than anywhere else on the country.
0 votes Thank Flag Link Thu Jan 3, 2013
I think since sales prices are going up and getting financing is not as easy as it used to be a lot of people are going towards renting. This influx in renters is causing the demand for rentals to be much higher therefore causing prices to increase also causing sellers to increase their prices due to the higher rents the properties are getting.
0 votes Thank Flag Link Thu Jan 3, 2013
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