Home Buying in Danbury>Question Details

E.K. Ng Hove…, Home Buyer in 06811

Comparing Danbury & Waterbury

Asked by E.K. Ng Hoversten, 06811 Mon Sep 17, 2007

We're planning to purchase a rental property. How do Danbury & Waterbury compare in terms of purchase price and possible rental income?

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5
Erica
Many questions need to be answered. What is your price range? The homes in Waterbury are typically less expensive, but will bring in less rent as well. Danbury is probably a better choice for those commuting. It is easy access to Westchester county NY and wil be a little more expensive, but bring you a better return on your investment. If there is anything I can do to help you make your decision easier, such as free reports, Don't hesitate to call me.
Sharing the Good Life!
Tim

Tim Kellerman
Real Estate Consultant
Ovations & Encores Realty
Westport, CT
Office - 203-254-9310


Oh By The Way... I'm never too busy for any of your referrals!
Web Reference: http://WWW.TKellerman.com
2 votes Thank Flag Link Tue Sep 18, 2007
John :
Thank you. I understand what you said. : )

Sonia
0 votes Thank Flag Link Wed Nov 12, 2008
E.K.,

Stay away from Waterbury. It’s the sweaty armpit of Connecticut. The rental population will go through your security deposit and then some. Section 8 is the rule, not the exception. The “Town-Plot” section of town is relatively stable and nice, but it’s an economic-downturn away from being re-assimilated into Waterbury proper.

Danbury is better. It, like most cities in Connecticut, has its nice parts and its bad parts. The western part of town is generally a bit quieter. Rents are stable and a bit on the high side in the more tranquil areas. Deals can be had on multi-families now and you could strike a hard bargain.

Having just done a search for rentals in Danbury, the supply in the upper end of the market is very tight. The downside is that Avalon Bay has three apartment communities (approx 240 unit each) in town that offer a lot in the way of amenities and convenience. Their vacancies are starting to trend up, so expect them to go back to offering a couple of months free as a come on to entice more tenants. Potential renters will be cross-shopping them against your investment property if you look to buy something higher end.

Hey Sonia - if you were a little more bearish, you'd be my next Realtor®. Impressive background.

-John
0 votes Thank Flag Link Sun Nov 9, 2008
What Tim stated is correct. To invest in Waterbury is fine if you also live near there, but there are lot of multi-family homes and single family homes in danbury that you can buy and rent out. Of course, you will be taking a risk on making sure there are enough people out there looking for place to rent.

Sonia Holmes
0 votes Thank Flag Link Sun Nov 9, 2008
Buy in Waterbury, Danbury is for owner occupants. If you do buy Danbury maintain the place so when I drive buy I don't get upset.
Danbury Native
0 votes Thank Flag Link Mon Nov 5, 2007
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