Having a hard time finding a first home that's right for you and your wallet? Well, here's a tip – think about condominiums, or condos for short.

They're usually smaller than single-family homes, but that's exactly why they can be easier on your budget. According to the latest data from the National Association of Realtors (NAR), condos are typically less expensive than single-family homes (see graph below):

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So, if you're comfortable with a smaller space and want to buy your first home this year, adding condos to your search might be easier on your wallet.

Besides giving you more options for your home search and maybe fitting your budget better, living in a condo has a bunch of other perks, too. According to Rocket Mortgage:

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Plans have been submitted to redevelop an empty office building at 110 Canal Street in Bulfinch Crossing into an 82-room hotel.  The plans also include a restaurant on the first floor.  Rhino Capital Advisors acquired the building earlier this year, and seek to spur the revitalization of the Canal Street corridor with this project.  Click here to read more.

Bulfinch Crossing is arguably the most up-and-coming neighborhood in Boston.  Click here to learn more about this neighborhood's rich history and how it is trending in the years to come.


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