"No, Boston condos do not automatically include parking; parking is a highly coveted and premium amenity that is often a separate consideration. Only about 25% of the total condominiums in Boston feature deeded parking spaces, and in many cases, a spot may be available for an additional purchase or a separate rental fee. Deeded Parking: This is the most desirable form of parking, where the parking space is real property and is owned by the unit owner,"
"Location Matters: The importance and availability of parking vary significantly by neighborhood. In dense, historic areas like Beacon Hill, Back Bay, and the North End, off-street parking is a major luxury. In other areas like parts of South Boston or Oak Square, it might be more common or easier to find. Cost: Due to the scarcity, a deeded parking space in a prime Boston neighborhood can add a significant amount to the purchase price, often $100,000 and up,"
"Assigned Parking/Limited Common Element (LCE): The space is assigned for the unit's exclusive use, but the space itself is technically owned by the condominium association. Leased Parking: The parking is not included in the condo purchase and must be leased from a third party, often in a nearby garage or lot. There is no guarantee this lease will be transferable to a new owner or continue indefinitely."
Parking is not automatically included with most Boston condominiums; only around 25% have deeded parking. Deeded parking is real property that can be owned, sold, or rented separately where permitted. Assigned or Limited Common Element spaces are reserved for a unit but owned by the condominium association. Many buyers lease parking from third parties with leases that may not transfer. Older, dense neighborhoods often lack dedicated parking and rely on street or public garage options. Deeded spaces can substantially increase purchase price, add monthly HOA or parking fees, and improve resale speed and value.
Read at Boston Condos For Sale Ford Realty
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