Purchasing your first home is a milestone—one that often feels just out of reach in a competitive real estate market like Boston. But for qualified first-time buyers, the City of Boston offers a generous grant program that can significantly reduce the financial barriers to homeownership.
Understanding Boston’s First-Time Homebuyer Grant Program
Boston’s First-Time Homebuyer Grant program is a city-backed program offering eligible buyers a grant toward their down payment and/or closing costs. Until May 31, 2025, up to 5% of the purchase price (as much as $50,000 in assistance) can come from the First-Time Homebuyer Grant; starting June 1, 2025 only 2% can come from the grant. Eligibility is based on income and you must be purchasing your first home in Boston. If you’re dreaming of a Boston luxury condo but need a boost for the down payment, this grant can bridge the gap.
The application process goes through the Boston Home Center, and approval means you’ll receive funds that do not have to be repaid – a true grant, not a loan. In short, the city is investing in your ability to buy a home, which can free up your savings to perhaps aim for a more upscale property than you thought possible.
Why East Boston is Ideal for First-Time Luxury Buyers
For buyers entering the market for the first time, East Boston offers a compelling value proposition. Unlike Back Bay or the Seaport, where entry-level luxury homes often exceed seven figures, East Boston luxury condos offer modern, new construction homes at comparatively attainable price points. These properties often include premium amenities such as rooftop terraces, fitness centers, concierge services, and direct harbor views—features typically reserved for much higher price brackets in other neighborhoods throughout the city.
In East Boston, you’ll find modern condo buildings along the harbor that boast premium amenities at prices often lower than Boston’s downtown core. The area is home to an exciting portfolio of new developments that cater to luxury-minded buyers. Residences at buildings like The Mark and Slip45 combine elegant design with functional layouts, sophisticated finishes, and a vibrant waterfront setting. For first-time buyers leveraging a city grant, East Boston represents the perfect intersection of accessibility, luxury, and long-term investment potential.
First-Time Buyer Next Steps
Combining a first-time homebuyer program with a luxury condo purchase is a sophisticated move—and with the right approach, it can be highly rewarding. Here’s how to make it seamless:
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Get Pre-Approved & Confirm Grant Eligibility
Begin by securing mortgage pre-approval and confirming your eligibility for Boston’s First-Time Homebuyer Grant through the Boston Home Center. This will clarify your financial position and establish how much down payment assistance you can apply toward your purchase. -
Target the Right Properties
Focus your search on East Boston’s new construction and waterfront developments. These residences often offer elevated finishes, modern amenities, and pricing that aligns well with first-time buyer budgets—particularly when paired with grant support. -
Partner with an Expert Agent
Work with a real estate professional who understands the intersection of first-time buyer programs and luxury condo inventory. Elevated Boston’s agents are uniquely equipped to help you identify properties that maximize both lifestyle and investment potential. -
Use Your Grant as Leverage
A confirmed grant not only strengthens your financial readiness—it can also enhance your offer’s appeal to sellers. Demonstrating that you have secured down payment funds shows that you are serious, qualified, and ready to move quickly.
Eligible East Boston Luxury Condos for First-Time Homebuyers
View our curated list of featured East Boston Listings below, and contact ELEVATED today to learn more.
The Condor - 101 Condor St #301
The Condor is a new construction luxury condo building situated across from the water. This boutique elevator building features 18 residences and amenities including an enormous roof deck.
7 Wordsworth - 7 Wordsworth St #3
7 Wordsworth is a new luxury development in the heart of East Boston, fully complete and move-in ready. This exclusive collection of six new construction residences offers 1-, 2-, and 3-bedroom penthouse floor plans, each with private outdoor space and garage parking.
106 Moore - 106 Moore St #102
106 Moore Street in East Boston is a contemporary residential building featuring eight well-appointed two-bedroom units. 106 Moore is currently under construction and will be complete by Summer 2025.
277 Border - 277 Border #401
Ideally located on the East Boston waterfront, 277 Border features 18 residential units, complete with parking, storage, and a common roof deck for residents to enjoy waterfront views
At Elevated Realty, we specialize in guiding first-time buyers through the luxury real estate landscape with confidence and clarity. Our team has a deep understanding of both Boston's homebuyer assistance programs and the nuances of East Boston's luxury condo market. Contact us today to learn more about buying in Boston.