Use this glossary of Property Terms to help you understand the different ways you can own real estate in Boston and the different living styles available to you as a new Buyer -- understanding these distinctions is an essential component of realizing your property investment opportunities. Your Ballast Agent is fully trained in understanding the financial and legal implications of each real estate asset class and can help you understand how these differences can affect your investment.

Find the perfect style of living to meet your individual preferences! Whether you want traditional or modern, no-service or full-service, grand parlor or modern loft, your Ballast Agent can help you find your perfect home.

Brownstone Living - A typical Boston "Brownstone" is made of traditional red brick construction.  You will see rows of "brownstones" throughout Beacon Hill, the South End, the Back Bay, the North End, Bay Village and specific streets or around specific "historic squares" in Charlestown, South Boston, East Boston and Fort Hill.
 
Loft Living - Loft living in Boston has grown exponentially in the last 10 years. For Buyers in search of open floorplans, large windows, high ceilings (often with exposed beams and mechanicals), and flexible layouts, lofts are the perfect answer.  Innovative developers and homeowners have transformed Boston lofts into some of the most unique and enjoyable living spaces in the City. 

Concierge Living - Concierge living is perfect for those seeking a full-service residential environment, most often in a high-rise luxury building or a large brownstone building. Concierge services vary from property to property but can include valet service, dry-cleaning pick-up, package acceptance, transportation assistance, dining & theatre reservation assistance and many other services helpful for overworked urban dwellers and those seeking the finest in luxury city living.  Many of Boston's finest concierge buildings can be found in the Back Bay, the South End, in Midtown overlooking the Boston Common, and along the Boston Waterfront.

Studio Living - A studio is an apartment, usually for one person, that consists of one large room, a kitchen, and a bathroom. The single large room is meant to accommodate all living spaces: the bedroom, the dining room, and the living room - a great choice for simplified city living or a great option as a pied-a-terre.

Duplex Living - When you see the term "duplex" in your property search results - it means that the property consists of two levels of living space.

Triplex Living - When you see the term "triplex" in your property search results, it means the property consists of three levels of living; typically with bedrooms on one level, kitchen and dining room on another, and living room on a third level.

Ballast Agent have extensive expertise in understanding the nuances of each Boston property type and what each type means for a new Buyer.  Read the descriptions below for a better understanding of your Boston real estate asset.

Condominiums - A condominium is a property that has been divided into multiple units that can be freely purchased and sold as distinct property units pursuant to the Massachusetts Condominium statute.  A Condominium is governed by a Declaration of Trust & a Master Deed that define the rights & responsibilities of each of the Condo owners in a particular Condominium Trust.

Cooperatives - A Cooperative is a legal entity that apportions apartment unit ownership by shares instead of by physical unit ownership like a Condominium does.  Cooperatives are a rare breed in Massachusetts - and in Boston specifically - but are found more frequently in New York and other states that adopted "Co-ops" as a way to share the typical costs of real estate ownership associated with large building living.
 
Single Family Properties - A single-family property is zoned for single-family occupancy under City of Boston zoning guidelines - so whether you are purchasing a 1000 square foot property or a 4800 square foot property, a "single family" designation means that the space or building is not divisable into multiple units without a City-approved adjustment to the designation. 
 
Multi-Family Properties - A multi-family property can be one building or several adjoining buildings that allow occupancy by "multiple families."   Even though distinguished for occupancy by more than one individual or "family", a multi-family property is owned by a single owner or ownership entity, pays a single property tax bill, and is not separately divided into units for the purpose of a sale.  Popular for Buyers who want to live in one apartment and rent out the others or for investors who want to own rental property with multiple apartments in one building, "multi-families" offer many options.  As an added ownership option under Massachusetts law, multi-family properties can also be "converted" to condominiums such that each unit can be sold separately as a condominium.