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Boston Real Estate

Apartment Sizes Are Shrinking and Here's Why

Studio Apartment

Ever wonder why apartment sizes seem to have shrunk in recent years? New data from Axiometrics and RCLCO explain the reasons contributing to this decrease. 

Apartment size has mostly decreased in studios and one bedroom units across the country and Boston is no exception. At the same time, the number of these units on the market have continued to increase. 

The data shows that the average unit size across the country has shrunk by 70 SF, around 7% in apartment units that were built in the last six years. This is compared to those built in the previous nine years. 

One of the reasonings behind this decrease is a shift in what residents want from their home. They determined that residents are more focused on a good location and the ability to live, work and play in the neighborhood that they are in, rather than focusing on the square footage of their apartment. 

Boston was included in the high-cost markets that shaved off the most square feet in their new developments at 9%. Across all markets, the total units that are under 600 SF have doubled from 2010 to 2016 and now make up 15% of the units on market today. 

The other reasons behind the decrease in size don't just have to do with resident desires. Concrete and other development costs are at an all-time high, so developers are seeking ways to reduce their construction costs as much as possible. 

Landlords are also feeling the pressures of the market and are attempting to maximize income by building more units while at the same time not increasing space. 

What's more important in your home search: size or location? Let us know!

Contact us for more expert advice on the housing market and finding your new home today. 

Bike Rooms: the Newest Amenity in Luxury Rental Buildings

Boston bike

With Boston being named one of the next big cycling cities in the country and cities all over the world becoming more bike-friendly, it is no wonder that for rental buildings, bike rooms are becoming a top priority

It may not be the first thing that comes to mind when you think about luxury amenities, but bike rooms are increasing in demand and popularity and developers are following the trend. 

Bike rooms used to be an afterthought, generally tucked away in the basement, but not anymore. 

These rooms are now equipped with easy access in and out, secure access, tight security, lockers for equipment, included supplies and spaces for repairs and tune-ups. 

Other developers are taking on the bike trend with their fitness facilities, providing state of the art equipment, facilities with great views and access to real or virtual spin classes. 

New developments are increasingly making their locations bike friendly, with easy access to bike paths and bike sharing programs for their residents. 

With expanded capacity for storage and bike facilities, developers are encouraging this movement further and they are not just promoting physical activity, but protecting the environment as well. 

Contact us for more information about finding your new rental in Boston!

Renting Vs Buying Your Home

rent buy

Are you currently looking for somewhere to rent, but questioning whether you should buy a property instead? 

This is a common question that people ask before renting or buying a new property, trying to decide what is best for them and their budget.

With mortgage rates continuing to stay at historically low levels, it is now often possible to own a home for less than the cost of what you would pay in monthly rent. 

At My Boston Apartment we have all the latest rental listings in Boston, but if buying is something you're looking to explore then the advisors at our luxury home brand, Advisors Living, can provide you with all of the knowledges and resources to find the perfect home. 

Benefits of Buying:

Benefits of buying

Below offers a general rent vs buy comparison. The calculations assume a 30-year fixed mortgage with approximately 20% down payment and including an average maintenance or cc/tax.

budget graph

Contact us today for more information and insights on either buying or renting your new home!

The Cost of Your Pet Friendly Apartment

Pet friendly apartment

Finding an apartment is hard enough, finding an apartment that will allow you to bring your furry friend can be even harder. Luckily it is still possible! 

We've got a huge selection of pet friendly apartments throughout most Boston neighborhoods and if you don't see the right one for you, you can register and be notified when more become available.

Found the perfect apartment, but questioning whether you can afford a pet to go with it? Apartment Therapy put together a good breakdown of the hidden costs you'll need to budget for when buying a pet. We've included the top 10 here.

Adoption

There is always a fee when it comes to adopting, this varies based on where they come from and the type of pet. 

Fees

Some buildings and landlords will charge extra fees to keep your pet. Make sure to check this when renting your new home.

Necessities

These can include leashes, collars, ID tags, crates, beds, litter boxes. Any small purchases that will add up in the long run. 

Food 

Pets have dietary needs just like humans and it is important to factor in these costs and add them to your weekly spend on food. 

Toys

Daily stimulation is important and can be costly, especially if your pets tend to destroy their toys. 

Clean-up 

In a rental this is especially important so that you don't face any major damage fees when moving out. You'll need things to remove stains, odors and just to clean up everyday messes. 

Training 

Mostly just related to dogs, but training your pet to behave is especially important to make sure they don't destroy your new home, but this can be another costly expense. 

Medication 

This can be one of the more costly expenses and are important to keep in mind, whether for basic check ups or unexpected illnesses. 

Grooming

Another easy way to keep your home cleaner is to keep your pet properly groomed, but it can be costly.

Walking

If you're not working from home and you're living in a smaller space in the city, it will be important to pay a dog walker or some type of daycare to come and take your pet out during the day. 

Getting a pet is almost as big of an investment as having a child, so it is important to consider these factors and more before making the commitment! Read all of the tips on Apartment Therapy

MetroMark Transit Oriented Development Comes to Jamaica Plain

metromark

A transit oriented development project is coming to Jamaica Plain, bringing 283 residential units and 5,000 square feet of retail space. 

Residential units have started leasing for MetroMark Apartments, ranging from studios up to three bedrooms. 

Other building amenities include a gym, yoga studio, a dog park and grooming room, club room, library, entertainment room and a communal roof deck. 

Residents will have access to multiple courtyard with fireplaces and grilling stations as well as a community cafe and beautiful high-end interiors. 

Parking will be available at the building as well as bicycle space, electric car charging stations and a bicycle repair workshop. 

The development is conveniently located across from the Forest Hills MBTA stop on the Orange Line, as well as the commuter rail and multiple bus lines. The Southwest Corridor bike path is also located close by. 

metromark

Construction on MetroMark Apartments are scheduled to be complete April 2017. 

Contact us to find out more information about MetroMark and other new developments around Boston. 

Heat Map of Boston's Fall Move in

Boston Move in

Moving in to a new apartment this September? You're not alone. 

The beginning of September marks the busiest moving season in Boston, with students coming back to universities and leases beginning around the city welcoming new residents. 

If you're trying to prepare for the moving madness then you're in luck! City Hall has provided data based on moving truck permits that have been issued for the days from August 23rd through September 6th. 

In order to park a moving truck anyone must apply for a street occupancy permit, in order to restrict access to that area for a specified section of time. Thanks to this public data, you can view a heatmap of what areas will be the busiest during this fall's moving dates. 

Based on the map the busiest areas are Beacon Hill and the North End and more action around East Boston and South Boston compared to last year's data. 

Still looking for an apartment? Contact us for exclusive listings and advice for finding your new home. 

View the data provided by the City of Boston below: 

Powered by Socrata

 

 

New South Boston Construction on West Third Street

45 West Third Street

A new construction is coming to South Boston, bringing over 100 new rental units and ground floor retail space. 

The 45 West 3rd Street project was approved by the Boston Redevelopment Authority and will bring a four story building to the site. 

Exact amenities and details have yet to be released, but the project is located just steps from West Broadway on the Red Line and also provides easy access to the Seaport and downtown Boston. 

This project aims to help continue the development of the South Boston residential community, as well as make use of an underused area close to public transportation.

Along with the new development the project will include improvements to the streetscape in the area, widening sidewalks, adding additional lighting and planting more trees and adding to the creation of a vibrant community. 

South Boston is currently undergoing a transformation into a more vibrant residential community and this project comes along with a number of ongoing residential projects, including 11 West Broadway, 339 D Street and more.

The units will be aimed at a mixture of residents including young couples and families. 

Contact us for more information about 45 West 3rd Street and other new rental developments around Boston. 

Building Spotlight: Troy Boston

Troy Boston

Troy Boston is a unique development in the South End, offering residents an eco-friendly, exciting living environment in the city. 

Projected to be certified LEED Gold, Troy Boston is designed to operate 25% more efficiently than the average construction. The building has been constructed in order to save energy and utilize recycled materials. 

The energy conscious construction does not mean the development is lacking in amenities. Residents can enjoy a rooftop terrace complete with barbecues and fire pits, a rooftop lounge with a demonstration kitchen, an outdoor swimming pool, a yoga and fitness studio and an outdoor dog run area and washing station. 

Troy Boston Roof

As for the apartments, there is a choice of studios, one bedrooms, one bedrooms with a den and two bedrooms. The layouts vary by floor, but all include open floor plans, high end finishes and floor to ceiling windows. 

All units have beautiful wood floors, stone countertops, custom closets, energy saving appliances and smart thermostats. 

Troy Boston Interior

The building also prides itself on its collection of artwork that reflects the culture of the surrounding neighborhood. Pieces created by local artists and practicing designers are displayed in large-scale installations throughout the building. 

The developers aimed to create a vibrant and sustainable space in the South End and that is just what residents can expect. 

View available listings at Troy Boston here, or contact us for more information. 

Parking Options to Consider When Renting Your Next Apartment

When you're looking to rent your new home there is much more than the basic rent fee that you need to account for. Other bills include electricity, internet, furniture, heat, gas and more, but how much would you add on to park your car? 

According to Multifamily Executive, in a survey of 84,000 renters across the country, 67% of own a car and 21% of renters own two cars, meaning that 88% of people will need somewhere to park. 

But there are a number of different parking options in most cities, all with a variety of prices. But how much are renters willing to pay for a dedicated spot, or even a covered spot rather than have to deal with open parking? 

The survey showed that 60% of renters would pay for a dedicated parking spot, with 46% saying they would pay $25 a month for a reserved outdoor spot and 14% saying they would pay $75 a month for a reserved carport. 

Credit: Multifamily Executive

The results showed that almost all demographics were willing to pay for a spot, but the older the driver, the more they were willing to contribute to ease the hassle of finding an open spot. 

How important is it that your rent includes a dedicated spot to park?

Contact our advisors today to find your new apartment and discuss parking options in your neighborhood.

South Station Project Adds Residential Space

Plans for the huge South Station tower project have recently been altered to include more residential space, according to the Boston Business JournalSouth Station

The three-tower project is a mixed-use development including residential space, office space, retail and hotel space that will be constructed over three phases. 

The total development will be 2.522 million square feet. The first phase of development will be a 43-story tower that will be more focused on office and retail space, with residential units on the top floors 28-43. 

The main residential development comes with the second phase, a 17-story tower which could potentially include a mix of apartments or condos and hotel space. If it focuses on apartment space it will include 375 rental units. 

The last phase is mainly office space and a parking garage. The project includes expanding the South Station bus terminal and adding in a parking garage. 

This development will provide residents with a wide range of amenities and create a community that fills all of the modern demands of live, work and play. 

The change in the original project plans favors residential space over the original larger amount of office space, which is a reflection of the market and demand for residential units. 

Hines are the developers behind the project and expect the first phase of construction to begin in 2017 and most likely not be complete for another four years. 

Contact us for more information about renting in Boston and new developments

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