Where are the five best neighborhoods in Boston to build a luxury home?
While Massachusetts may not be the largest state in the U.S., it is consistently described as full of history, culture and opportunity. According to McKinsey & Company data, Massachusetts ranked first in terms of health care access and education. It also has the second best business environment of any state, and is the fifth strongest economy in the nation.
These factors matter in finding that ideal location to build a luxury home. For the best in Massachusetts, there is no location better than Greater Boston. This is the heart of business, arts, culture and education. If you’re looking to build or design a Boston luxury home, we have the insight on the strengths and weaknesses of every neighborhood.
Back Bay
Located just southwest of Boston Common is Back Bay. Three prominent streets run through this neighborhood, including Boylston St., Commonwealth Ave. and Newbury St. This means an immediate array of trendy restaurants and shops, not to mention nearby access to Boston’s financial and business centers. Building highlights include The Boston Public Library, Hancock Tower and Prudential Center.
According to Unit Realty Group data, now is a perfect time for prospective homeowners to buy and build. Average sale price has remained constant but average asking price recently fell by 11 percent. While many investing in this area go for condos, there are still ample home listings - including many pieces of property at least 100 years old. Those interested in approaching Back Bay should seek out our historic building conversion specialists to better understand how well the properties have aged.
Leather District
Situated between the Financial District and Chinatown, the Leather District is actually among the newer parts of Boston, only first settled in the late 1800s. While initially a retail area known for its brick warehouses, the Leather District has transformed into a mix of commercial and residential, largely defined now by the creation of the Kennedy Greenway, according to Boston Planning & Development Agency.
While space is tight in this area, the Greenway makes it a desirable and beautiful stretch of Boston real estate.
South Boston
South Boston is one of the hottest up-and-coming areas of the city, The Boston Globe reported. Prices have soared up 70 percent since 2011 and the median single family home now costs around $700,000. A large part of South Boston’s desirability comes from current mayor Marty Walsh. According to City of Boston, Walsh has invested heavily in the neighborhood’s infrastructure - meaning newly paved roads and park renovation. The beaches are an added plus too.
West End
Located on the northwest shore between the city itself and Cambridge, West End is home to the TD Garden and Massachusetts General Hospital. The Museum of Science is also located conveniently right across the river.
Frequently labeled as a mix of the old and the new, West End property is always in high demand. However, Encore Realty stated that the overall average asking price has recently fallen so now is the perfect time to buy.
West Roxbury
An ideal part of Greater Boston, West Roxbury has the luxury of being removed while still connected. The area is especially known for its literary past as writers like Henry David Thoreau and Ralph Waldo Emerson were frequent visitors, according to City of Boston. Now the neighborhood is ideal for younger homeowners and new families as it possesses strong youth programs and an actively caring community.
The area has seen marked improvement in recent years. Eye sores like a landfill have been transformed into attractions such as Millennium Park.
The best neighborhoods in Boston can be expensive but are worth the price. Contact Kenwood Builders today to find out how we can help you carve out your own unique piece of Greater Boston.