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Infographic: A portrait of a Boston homeowner on the move

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By Hometap TeamUpdated on July 7, 2023

With attractive home values and appealing neighborhood benefits like walkability and access to entertainment, Boston residents have a lot to be thankful for.

However, Boston has also had notoriously high housing costs for years, and home values are skyrocketing even further. It’s making Greater Boston-area homeowners house rich and cash poor, with the majority of their wealth net worth tied up in their homes.

Read through our infographic to understand the portrait of a Boston-Area homeowner on the move, and the factors leading some Suffolk-county homeowners to seek properties outside of the state.

House Rich, Cash Poor: A Tale of Boston Homeowners

Boston has had notoriously high housing costs for years and home values are skyrocketing even further. It’s making Greater Boston-area homeowners house rich and cash poor. But what does that mean? Read more to find out.

Bigger Houses, More Property: Suffolk County Residents Look to Upgrade

With attractive home values and appealing neighborhood benefits like walkability and access to entertainment, Boston residents have a lot to be thankful for. It may sound out of the ordinary, then, for Suffolk County homeowners to leave a good thing behind. See why 40% of Suffolk County residents plan to move in the next five years.

Check out this infographic to understand who is buying properties in Boston.

You should know

We do our best to make sure that the information in this post is as accurate as possible as of the date it is published, but things change quickly sometimes. Hometap does not endorse or monitor any linked websites. Individual situations differ, so consult your own finance, tax or legal professional to determine what makes sense for you.

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Hometap Team
The team here at Hometap is made up of a diverse group of finance professionals with a wide array of backgrounds and expertise, including mortgage loan processing, banking, real estate, and entrepreneurship. But most importantly, we're homeowners on a mission to make every stage of homeownership less stressful.

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The Hometap family of companies utilizes Hometap Equity Partners, LLC and Hometap Homeownership Solutions, LLC to provide Hometap Home Equity Investments (HEI or HEIs). Each entity has the ability to enter into a HEI directly with the consumer:

Hometap Equity Partners, LLC dba Hometap. NMLS ID# 2467867 NMLS Consumer Access 361 Newbury St, 5th Floor, Boston, MA 02115

Hometap Homeownership Solutions, LLC dba Hometap. NMLS ID# 2819930 NMLS Consumer Access 361 Newbury St, Office 450, Boston, MA 02115

Hometap Real Estate Equity Partners, Inc. holds real estate brokerage licenses in certain states. California DRE #02191883

A Hometap HEI has a ten (10) year term, during which no monthly or recurring payments are required. Hometap records a lien against the property, in the form of a mortgage or deed of trust, to secure its interest. You may choose to settle the Investment at any time during the term without incurring any penalties by exercising an Owner Repurchase. If you do not settle the HEI by the expiration of the term, your Hometap HEI provider may exercise its right to acquire a percent ownership interest in the property and then work with you to sell the property. You may contact either Hometap entity at hello@hometap.com (for prospective or current applicants) or homeowners@hometap.com (for homeowners with an active HEI) for more information. Eligibility criteria are subject to change. For current criteria, please contact your Hometap HEI provider at (855) 223-3144 or visit www.hometap.com/faqs

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