Most retail rents in Boston are quoted in terms of rent per square foot per year. For example, leasing a 1,000 SF space for $60/SF would mean the annual rent is $60,000 - or $5,000 per month. Most retail leases in Boston are triple net (or NNN), meaning that the tenant also pays all or a portion of the real estate taxes and common area [...]
Deciding to hire an interior designer can not only increase the value of your home, but can also help you avoid some costly mistakes. Interior design is a crucial component when selling your home; it can boost buyer appeal, which can increase the value of your home.
If you’ve invested a good deal of money in your home, you will want to showcase it to look its best to prospective buyers. A designer offers a fresh set of eyes, trained to see things that you may not. In addition, professional designers have expertise in budgeting and planning, plus they bring an extensive list of resources for your renovation. They are invaluable in saving clients in time and headaches, identifying reliable contractors, plumbers, and electricians for their projects.
Lastly, a designer can offer you the “wow” factor. They can offer something outside of the box, that you would never think of, as a result of their trained eye and years of experience.
Happy New Year! We are still digesting all of the data, but here is a quick look at how Boston’s condo market performed in 2019. Looking at a sample of neighborhoods, average condo sales prices per square foot were slightly below 2018 levels in a number of them. There are certainly areas that experienced growth - for instance, the average [...]
The end of the year is a time when many businesses start planning for the year to come. With 2020 almost upon us, here is a quick look at the market conditions in a number of Boston's most popular areas for office space. We organized them in the order that we typically receive questions from businesses that are curious about the Boston [...]
Jamaica Plain is one of the fastest growing real estate markets in Greater Boston. Diverse, vibrant, and centrally located, it is highly sought after among buyers - investors and owner occupants alike. JP is an easy commute for those working in the center of Boston, and is more affordable than neighborhoods like Back Bay or South [...]
“The whole culture is telling you to hurry, while the art tells you to take your time. Always listen to the art.”
- Junot Diaz
Art enhances the home.
In today’s modern world, an environment adorned with art provides a quiet respite from the busyness of everyday life. Additionally, artwork has a huge impact on our moods and emotions and [...]
For some real estate investors, residential condominiums are the preferred type of investment property. Some benefits include that condos typically are less expensive than whole buildings and there are fewer management responsibilities because condo associations typically handle day-to-day operational issues like snow [...]
Guest Blogger: Nathan Hartseil of First Home Mortgage
Got a College Student in Boston?
Rent costs have you doing a double take?
What if you bought a condo instead?
Many folks are incredulous when I tell them that they are able to purchase a single unit (condo, townhouse, single family) residence for their child here in Boston at the same [...]
We are sometimes asked: Do I really need a buyer’s agent, or can I make an offer on a property on my own? Certainly, it is possible to buy a home without the help of a buyer’s agent. However, there are a number of advantages in working with an experienced agent. Here are some reasons to work with a buyer’s [...]
One of the metrics used by real estate investors to evaluate investment opportunities is called the capitalization rate (or cap rate). The formula is basically the net annual income divided by the purchase price. Cap rates do not take mortgages into account – since different investors receive differing financing terms, the cap rate is a quick metric to evaluate an opportunity on a level playing field.
The chart above shows multifamily cap rate trends over the past 10 years, and includes forecasts for the next five. Boston has maintained a lower cap rate than the national average and is projected to maintain that spread in the coming years. A lower cap rate means that investors are willing to accept a lower return on their investment, so investors will pay more for multifamilies in Boston because they view it as a stronger investment.
This article is focused on multifamily investment property – cap rates for other property types (e.g. retail and office) are different, and each property type has its own set of risks and rewards to consider. If you are interested in more market data or have questions about investment property in Boston, please reach out to us.