Buying Condo in Boston
Starting an MF PE job in Boston as an associate in the Summer. Is it worth buying a condo in Boston vs renting?
Trending Content - Off Topic Forum
Career Resources
WSO Free Modeling Series - Now Open Through
June 30, 2026
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
High Finance Applications
Guaranteed
Get at least one offer GUARANTEED
- 1:1 support
- 92% success rate
- 2,000+ mentor network
- Unlimited Live bootcamps
- AI for resume + LinkedIn
- Networking automation tools
- HireVue simulation tool
- Full course library
- Private Slack community
- 20hrs of mocks
- + much more...
Depends what your budget, goals, and how familiar you are with the city. The nicest areas live are: Back Bay, the South End, and Beacon Hill. Maybe throw seaport in if you like that kind of setting. Those are also the most expensive.
My advice would be to rent for a year or 2 and figure out where you want to be. Boston is very walkable (most places are within a 30-40 minute walk tops) but the public transit is terrible so do not rely on that. A lot of people also come in and see these nice, modern, full-amenity apartments in the theater district/downtown crossing/west side of chinatown and buy there because it's "affordable" and centrally located without realizing those are the sketchiest parts of the city. You don't want to be locked into somewhere you don't want to be.
On the other hand - are you looking to live somewhere for a couple years and keep it as a rental after that (and willing to compromise on location)? If thats the case, you may be able to buy a place in Southie (south boston) or Eastie (east boston near the airport). Those are where most of the young people fresh out of college live before they can afford to move.
Assuming you'll be at at Bain, your office will be in back bay - I would suggest renting there or in the south end to start. You'll be close to the office and in the best nicest parts of town.
This is helpful. I think there's affordable options to purchase in Back Bay itself which is probably top of mind. Would not try to purchase in those other locations
If you can find the right place at the right price in back bay then go for it. This is not at all to dissuade you but just a couple things to consider: 1) these are older buildings and particularly the less expensive ones will likely have higher maintenance costs than you might anticipate. 2) 1 bed/1bath and studio units have a much smaller supply of renters or buyers compared to 2/2 when you decide you want more space. That being said, Boston in general but especially back bay are highly supply constrained and sought after so it’s not like it will lose value. Just diligence it thoroughly and definitely have some 3rd party walk through to spot any issues that would come back to bite. If at the end of the day you are confident that you could rent it for more than your monthly costs and you’re ok having that much money tied up then could be a good move. There are a lot of landlords that are couples or individuals that buy a place to live in and then keep it as an investment when they move to Wellesley to start a family.
If I have it for 2 years is selling very difficult on the right deal? Or is 2 years not really enough time
If your plan is to only hold it for 2 years and sell then I'd definitely rent. In that short of a time you can't and shouldn't count on the property appreciating at all. You'll be able to sell it for sure but there's a real chance that you end up losing more than you would have spent on rent in the first place + the added headaches of homeownership. Similar to what the poster below said, I'd only consider buying if you are willing to live there for 5 years and want to keep it as a rental after.
Currently in Boston myself and went through a similar thought process a little while back. Ultimately, it doesn't make sense to buy in this market unless you see yourself living there for at least 5 years. I found a great spot where the total monthly payment would've been ~4k, so roughly 500 more than a solid 1bd/studio rental, and ended up holding off because I just couldn't see myself living in a 1bd for 5 years. While it sounds great to build up equity and avoid 'losing' money to rent, you're going to pay a hell of a lot just in interest, there are a ton of headaches with homeownership (potentially also HOAs), closing costs are real, and you don't even know if your job will work out that long.
Isn't mortgage interest tax deductible? Not sure if that changes the calculus.
Qui ullam fugit assumenda provident dolore tenetur. Est omnis deserunt libero vero. Vel sunt ipsam et enim. Provident molestiae non possimus. Ab ea hic dolor ea voluptates voluptas.
Dolor quia dolores velit harum nihil ipsam. Quam voluptatibus eligendi illo soluta. Fugiat rerum dignissimos iste sed. Eos eos voluptatem provident qui.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...