House hunting is a very personal, intimate process for home buyers. We have helped countless people buy homes in our neck of the woods, and we can absolutely say that it is one of the most challenging yet rewarding experiences in life. Incidentally, each city and neighborhood has its own set of unique challenges and rewards. Take South Boston, for example. There are a lot of unique things to consider when buying a home in South Boston. South Boston has undergone a tremendous change in the past 20 years. With new construction, city-sponsored revitalization projects, and migration, the landscape of South Boston looks quite different than it looked 20 years ago. With these changes come new inventory and sweeping trends in the South Boston housing market. As we dig deeper into these factors we’ll show you exactly how to find the perfect home in South Boston.
How Much House Can You Afford?
The first step in finding the perfect home in South Boston or any neighborhood for that matter is determining your budget. We stress that our clients go into the home buying process with the ability to make sound financial decisions as it relates to their buying power. Knowing what your limits are can help you identify homes that fit within your individual comfort level and needs. The average price of a home in South Boston currently sits between $700,000 and $800,000. That’s not to say you can’t find something cheaper. It just gives you an idea of what to expect when looking for a home in South Boston. Take a look at our mortgage calculator, to get an estimate of what your monthly mortgage payments will be by plugging in a few numbers. This will give you a rough idea of what your monthly payments might be, based on the list price of a house.
Do you Know the Lay of the Land?
The other thing to note about buying a home in South Boston is knowing the general area, who lives here, and what’s so great about the area. Once a predominantly Irish Catholic neighborhood, but now home to young professionals and families, South Boston has the perfect combo of character and luxury. South Boston, affectionately known by us locals as Southie, is a densely populated neighborhood full of history and tradition. From the panoramic views of Pleasure Bay to the new vibrant scene of bustling hotels, restaurants, and local shops, Southie has become a highly sought after neighborhood attracting diversity, business, and flare.
Additionally, this area has caught the eye of condominium developers, which significantly increases the available inventory in Southie. There are a number of new construction condo projects such as 150 West Broadway, 527 East Broadway, and 11 on the Dot, to name a few, currently under development in South Boston. This trend of luxury condos and mixed-use work-live spaces is sweeping the nation, of which South Boston is at the forefront.
How Quickly Can You Act?
Although, new construction condos have significantly increased inventory in the market, homes in the South Boston neighborhood are going fast. The average number of days on the market for currently listed homes in South Boston is under two months. We recommend having a knowledgeable agent to help keep a pulse on trends and current inventory so that you’ll be notified of new homes matching your unique tastes. It’s important to have an idea of what you want as well.
What does South Boston offer?
In addition to luxury condos, converted condos, and new construction, Southie also has a large selection of older traditional homes as well. The ever-evolving and trendy west side of South Boston, for example, consists of traditional triple-decker style homes with an average of 1800 square feet, large bedrooms, and sizable living spaces. As we mentioned earlier, Southie is a wealth of history and the homes are here to prove it.
South Boston is full of variety and continues to grow. If current trends are any indication of what’s to come in the future, the Southie neighborhood will be quite the scene! And we’ll be here for every bit of it. If you’re interested in buying a home in South Boston, we can help. Get in touch with one of our agents to set up a few showings. We’ll educate you on all there is to know about this amazing neighborhood and get you into your dream home.