According to a recent study conducted by Trulia, Boston has seen a significant increase in the number of babies and young children who call the city their home. Given this fact, it should not come as much of a surprise to learn that the demand Boston condos among families is also on the rise.
In terms of the number of young children who are living in the city, the Trulia report found that Boston has seen the 8th greatest increase in new babies among major metro markets. In 2013, the city experienced a 0.6 percent increase in the number of children ranging from newborn to four-years-old. The suburbs, on the other hand, are falling behind in terms of the number of children who live there.
The Trulia findings seem to coincide with a recent report released by the Massachusetts Association of Realtors. According to this report, families with children are increasingly choosing to purchase condos over single-family homes with spacious yards. This may come as a bit of a surprise to some because single-family homes have traditionally been seen as the better option due to their size. Furthermore, Massachusetts condo prices increased by 13 percent during the first five months of 2014, while single-family homes only increased in price by 6 percent during this same time period.
Despite the increasing prices of condos, many families are finding that condos are better suited to their busy lifestyles than single-family homes. Often, condos are located closer to their workplace than single-family homes, which helps to reduce the amount of time they spend on the road commuting back and forth to work. Condos are also typically move-in-ready and do not need repairs or improvements, thereby providing families with a hassle-free home that will not take up their nights and weekends as they try to get the home up to their standards.
Of course, living in the city is not cheap. Furthermore, busy families still need to find ways to keep their kids occupied and happy. Therefore, families who are interested in purchasing a condo should make sure the condo has on-site amenities or nearby facilities for the family to enjoy, such as a playground or swimming pool within walking distance. These community amenities will be particularly important during the summer months when school is not in session, the days are longer and the kids are looking for a way to keep themselves from growing too bored.