If you’re a first-time home buyer fortunate enough to have some capital to put down, purchasing a multi-family home in Boston could open all kinds of doors for you! A multifamily property (or multi-dwelling unit) is defined as a residential building with two or more units under one roof or several buildings in one complex. Duplexes, townhouses, apartment complexes, and some types of condominiums are all examples of multifamily properties.

The Boston real estate market, overall, continues to be robust- with renters in various multi-dwelling units staying put longer and renewing their leases at higher rates than in the past few years. With a ready down payment and the right mortgage, you can potentially purchase a multifamily property as easily as if you were buying a single-family home. Investing in a multifamily property in Boston can provide you and your family with a comfortable place to live, a financially lucrative rental business, and passive income for years to come.

Your renters will help you cashflow your investment and offset your bills while you learn the “ins and outs” of being a landlord. So, should your first Boston real estate purchase be a multifamily home? Here are a few things to consider:

Are you thinking about moving to Boston? If so, you’re certainly not alone. Boston is an amazing city. That’s why millions of people from across the world consider moving to Boston on a yearly basis. Many visitors remark that Boston reminds them of Europe. Perhaps this is due to the fact that the city features landmarks wherever you turn. Maybe it’s due to all of the old red brick buildings. It could also be based on the cramped and winding streets. However, there’s certainly more to Boston than the history and old-world charm.

Boston is also referred to as The Hub; although some people used to refer to Boston as Beantown that is now considered to be out of style. Boston is the biggest/leading city in New England. This is based on population, jobs, sports teams, universities, hospitals, and of course historical significance. Many consider Boston a sports powerhouse. This is based on the recent success of the Bruins, Celtics, Red Sox and Patriots. Other people consider Boston to be a city of intellectuals. This is because Harvard, MIT, Northeastern, Boston College, Boston University and many others are located in Boston. Although there is technically a city of Boston, some of us refer to the entire Metro Boston Region as Boston.

This extends from Weymouth, which is south of Boston, to Saugus which is located north of the city. Boston is a great place to live, work, study, and raise a family. There is a vast array of arts, culture, and shopping destinations. There’s also a wide variety of restaurants, outdoor activities, and historical sites to see. We have put together some valuable information for people who are thinking about moving to Boston. It will help you get familiar with the different areas of the city ahead of time. In addition, you will learn a few things that will help you fit right in as an official Bostonian. When you move to Boston you certainly don’t want to look like a tourist. So, sit back, relax, and enjoy the article.

Without a doubt, 2022 will go down in history as one of the worst years for inflation in modern U.S. history. With the Consumer Price Index above 8% since March, we’re seeing the highest inflation levels in 40 years. Thanks to poor fiscal responsibility and highly questionable energy policies, rampant inflation and supply chain bottlenecks are starting to cripple our future supply of new products introduced into the Boston housing market.

The cost of building materials is increasing by a much larger margin than CPI. The current PPI for New Nonresidential Building Construction is up by 24% over the past year. That triples the price increase for consumer products (CPI). Housing supply in Boston is already at a critical shortage, and now developers are faced with even more fiscal barriers in creating new housing inventory for Boston’s growing population. We could be entering a new age of unprecedented scarcity of new housing options.

One of the core principles of chiropractic care is the idea that spine health affects overall health. Your spinal cord is a conduit for your central nervous system, providing the route for your body and brain to send electrical signals back and forth. When the spine is misaligned, those communication lines (nerves) can become damaged or blocked, which can lead to a long list of health conditions and disorders.

So a chiropractor’s main goal is to promote overall health by focusing on proper spine alignment. There are two major types of chiropractors in terms of how they approach providing care.

Physical therapy offers a wide range of benefits for patients looking to improve their overall quality of life. Many times physical therapy is administered by health care professionals as a form of rehabilitation from an injury or surgery, but in some cases it can include preventative care as well.

The main goal of providing physical therapy is to improve bodily function without the use of drugs or surgery. It’s most often associated with restoring strength and range of motion after a broken bone, but physical therapy can be used to treat a wide range of conditions including cardiovascular disease and neurological disorders. Here’s a list of benefits that are provided by physical therapists:

If you’re a landlord, a vacant Boston apartment for rent is not making you any money. It’s costing you money each day that the unit sits empty. Mathematically speaking, it is extremely difficult to catch up financially within an 18-month period if your apartment stays vacant for one month. In fact, the only real way to catch up is to start looking at value add strategies to create a better long-term outcome.

Having a Greater Boston apartment that is vacant can cause a tremendous amount of stress, to say the least. Quickly filling those vacancies is essential for any successful real estate rental portfolio or business. Finding some tactics that will make a real impact can often be unsettling; especially in a tight labor market with rising inflation. Nobody ever said the real estate game is easy. If it was, everyone would be investing in Boston apartments for rent.

You need to have the ability and mindset to think outside of the average real estate box to succeed. Otherwise, your units may very well sit empty for several months, not just the September 1st rental market. Deploying rapid action and care to your vacant apartments is crucial for your overall success. The good news is demand is extremely strong at the moment, and inventory is lower than it’s ever been. The real- time availability rate in the city of Boston is 0.76%, and only 0.24% of Boston apartments are vacant. This means with just a few strategic moves your apartment for rent will soon be leased. In fact, if you reposition the asset with careful and thoughtful improvements, you could very well see the highest rent roll your property has ever delivered.

So, what can you do if your Boston apartment for rent is still available a couple of days before 9/1? First, don’t despair. Here are some actionable steps you can take…

Chicago and Boston are both iconic American cities that enjoy international acclaim. Boston is a relatively small city, but with a lot of history and plenty of opportunities. It is known around the world for being the cradle of American history, home to the Boston Common, and where you’ll find hardcore football fans cheering for the Patriots. By contrast, Chicago is a much larger city; it is the third most heavily populated city in the U.S. after New York City and Los Angeles. Chicago residents can enjoy Millenium Park, a modern public park spanning 24.5 acres, and cheering for the Bears. While some football fans may be loyal enough to pick a city based on their favorite team, we recommend comparing the cost of living and salaries in each city for a more complete picture.

As rents continue to rise, more Bostonians are making concrete plans to buy their first Boston home and build equity. A condo or a single-family home in Boston may be the first options that come to mind- and there’s nothing wrong with that! However, if you want to invest and build more wealth in the long run, consider if your first Boston Real Estate purchase should be a multi-family home. While this path isn’t for everyone, it comes with significant benefits. As a multi-family property investor, you could deduct maintenance, insurance premiums, management fees, and other costs. Of course, the primary benefit is that your rental unit(s) will cover most, if not all, of your mortgage payment if you play your cards right. You’ll need to work with an experienced real estate agent as well as an experienced mortgage broker to find the right fit for you and your financial situation. Working with professionals that will guide you throughout the process is a winning strategy.

Here are some Boston multi- family homes for sale currently on market, but keep in mind there are many more options!

September 1 is quickly approaching and many renters are still searching for a Boston apartment in an extremely tight market. The real- time vacancy rate (RTVR) is now at 0.25% for the city of Boston and the real- time availability rate is 0.84%. Real estate agents all over the city are running out of properties to show, if they haven’t already. Low Inventory Syndrome (LIS) is affecting renters’ ability to find their next home. LIS is also affecting some real estate agents’ livelihoods.

Thankfully, Boston Pads partner offices have access to the largest real- time rental database in the region and still have plenty of listings to show- although it is considerably less than previous years. This is primarily due to housing supply not being able to keep up with demand. Currently, there are 746 non- luxury listings available. This time last year, there were 2,613 available listings. Even in 2019, when we had an extremely competitive rental market pre- pandemic, there were 1,854 available at the beginning of the day on August 26.

If you’re still looking for the right place to move into September 1, you should definitely make a decision quickly- but rest assured, we can help. Here are some of the metro Boston apartments for rent that are still available.

We’re now two weeks removed from the peak of the 2022 apartment rental market and something remarkable is happening in Somerville. Historically, the real-time vacancy rate (RTVR) spikes on 9/1 on account of the large number of apartment leases expiring on 8/31. Over the past 3 years, Somerville’s September RTVR increased by +175.85% (2021), +293.10% (2020), and +272.73% (2019) compared to August. Now in September 2022, Somerville’s RTVR is up just +64.71% compared to August when RTVR was at an all time low in Somerville (0.34%).

In fact, both RTVR and real-time availability rate (RTAR) hit new record lows last month in Somerville. In mid August, apartment availability sank to a new historic low of 1.16%. RTVR bottomed out at an all-time low of 0.34% at the beginning of last month. Despite the unprecedented shortage of apartments in Somerville, MA, rent prices have yet to exceed their previous record-highs of 2020 as they have in most neighborhoods in Boston this year. Here are the main trends driving Somerville’s apartment rental market in 2022.