Monthly Archives: November 2011
While on a showing with clients last week , I snapped this picture of the Boston Back Bay and the Hancock Tower. This is a really unique view because there are very few buildings with this perspective. Mostly because you can’t build buildings 17 stories tall on the water anymore, like 330 Beacon. The views were equally fantastic of the Charles, but this view was more unique to me and not prevalent in the back bay with both city and river views this amazing. If you are looking for a property with sprawling views, can spend 2+ million, and don’t mind a gut renovation project….This could be yours.
Recently I have come across several questions regarding insurance and master insurane policies regarding townhouses in the Boston Neighborhoods. As a real Estate agent, many times we get asked legal questions, mortgage questions and insurance questions. At the end of the day, we aren’t pro’s in these areas, nor are we licenced, so it’s best we connect ourselves with people who can create the whole package. Since i get these questions often, It sparked an idea to ask Brownstone Insurance to write up a guest blog. I contacted them and Glenn Montgomery the co–founder of Brownstone Insurance was nice enough to write up an entry for www.buyrentsellboston.com
By Glenn Montgomery
Insuring your Boston Townhouse
Boston is a beautiful, historic and exciting place to live. With the multitudes of stately brownstone buildings and other beautiful pieces of architecture that have been lovingly transformed into townhouses, it’s important to make sure you have adequate insurance that can protect your investment in the property as well as personal belongings.
If you are buying a townhouse, brownstone, or triple decker inBoston, you have two options: a homeowners’ policy or a commercial insurance policy. The homeowners’ policy is designed to cover owner-occupied residences that contain up to four units. Most carriers will prefer to insure one and two-family homes. For buildings with two or more units, you can insure them with a commercial package policy. In the end, you will end up with much of the same coverage, just with different terminology.
Basic coverages to look for include:
- Building replacement cost coverage
- Personal property coverage- Your personal property is not attached to the building, therefore it is not covered by your building’s master insurance policy.
- Out building coverage- This covers structures such as sheds and garages.
- Loss of rental coverage- This coverage will provide rent reimbursement after a loss.
- Liability coverage- This is coverage for lawsuits against you.
- Crime coverage- Protection against theft is important.
Not everybody understands the unique nature of the replacement cost of an urban townhouse. Insurance company replacement programs are not enough. The value of the true replacement of the structure could far exceed what you paid, or what the mortgage company or the insurance company require. Be sure to know what it costs to rebuild your townhouse.
Shop around and ask lots of questions. Find a company or agent that understands your needs and the unique nature of your property.
Glenn can be reached at Glenn@brownstoneinsurance.com
I went for a walk the other day on the Esplanade. One more reason I love living in the Back Bay.
Well, its 60 degrees out and i’m thinking this is the last week of this warm weather. I thought I should post something that will make you go out on the esplanade and enjoy this weather.
This November 20th, one condo will be auctioned off at 416 Marlborough Street. The interesting thing here is that this is going to be an online auction not an actual auction in person . It’s more like an Ebay way to buy your next Back Bay 1 bed. Personally, I have not seen this done in downtown Boston, but maybe this is a first. Historically speaking, Back Bay, South End and Beacon Hill properties don’t go up for auctions, nor are there many short sales or foreclosures. This is not a large auction like that of the Bryant, but is a small, one off way of doing it. To be honest, I think its a great way to market a single condo listing that “needs to be sold.” but i wonder how well this will be attended with serious buyers. If it works well, maybe we will see more of this style of sale popping up around Boston.
The Original price of this condo was $525, 000 and has a minimum starting bid of $315,000 and the highlights from the auction website are:
- “Professionally Managed Including 7 Day Concierge
- Historic Bldg Fully Renovated, Modern European-style Interiors
- Beautiful Shared Roof Deck With Panoramic Views
- Updated Kitchen Appliances and In-Unit Washer / Dryer
- Sunny, South Facing Living Room
- In-Building Bike Storage & Fitness Room / Pet Friendly
- Excellent Closet Space Throughout
- Condo Fee is $460″
Do you think this auction Format will catch on in Boston?
If you have any questions regarding this property, feel free to contact me at email@example.com and i can send you a link to the auction site.
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