Home Buying in Newton>Question Details

Bria, Home Buyer in Newton Center, MA

Is there demand for single family home rentals in the 5 bed/bath furnished, new construction? How do rental rates for a single family home work?

Asked by Bria, Newton Center, MA Tue Jan 29, 2013

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Greer’s answer
I agree with Ed Lyon's comments below regarding furnishings. An International client or a temporarily displaced client or relocated client... often has their own furnishings ... so room dimensions and other space really matter.

For the most part, single family home rentals are pretty popular in Newton ... however, it isn't just the number of bedrooms, the rest of the living and entertaining area tend to matter as well.

That said, actual location matters too ... depending on the client, convenient access to public transportation, highway to the city or proximity to a specific private school or some other institution may be the key.
0 votes Thank Flag Link Sun Mar 3, 2013
Best bet is to check out other rental listings and see what the market is paying. Easy data to pull.

As an example:
455 Waban Ave
Newton, MA 02468
Rented Price: $9,500
Year Built: 2009
5 bed/5full bath
All the bells and whistles!

Territory.com
Massachusetts Premier Buyer Brokerage
617 848 5407 x701
Web Reference: http://territory.com/
0 votes Thank Flag Link Tue Jan 29, 2013
New construction rentals are always in a higher demand than older homes if they are priced comparatively, however it is very difficult to predict the demand on larger homes in good neighborhoods because they usually priced higher and most people who can afford to pay such prices would rather have their own homes, thus such rentals are mostly in demand by those who relocate from other states, needs temporary housing while building a new home, and other such reasons.
0 votes Thank Flag Link Tue Jan 29, 2013
Hi Bria, there is no formula for home rentals in the area, as there is in other parts of the country. You should have a good real estate professional that does a lot of rentals tour the home with you. That is the best way to get the 'boots on the ground' knowledge about potential value. Newton Centre is a high demand area of town and can support high end pricing. Furnishings won't really add to value much, however, and I suggest being negotiable on leaving your furnishings or mixing and matching or removing entirely if you have a good prospect that requests that. Good luck.
0 votes Thank Flag Link Tue Jan 29, 2013
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