Does living in a complex with subsized housing or next to low income housing affect future resale values?

Asked by St Investor, Cambridge, MA Sun Apr 27, 2008

I am interested in buying a condo to live in for a max of 5 years with the intention to sell when we relocate and am concerned about potential resale value in the future.

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3
Brecht Palom…, , Massachusetts
Mon Apr 28, 2008
If you 're talking about "Mixed Income" rather than subsidized housing I think the answer is no. Many projects have an "affordable component". Affordable means, in many cases, a buyer can make only x-percent over the local median income. Very often these units are filled by city workers, teachers, and other folks who wouldn't otherwise be able to buy anything in the town they serve. If however you're talking about being next to "housing projects" that would be a different story.
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Jon Ernest, , Brookline, MA
Mon Apr 28, 2008
Yes, there are people who will be less likely to buy a property that is next to subsidized housing. However Michael is right that the same force that will effect your resale, should be effecting the current sellers resale. Even though it's next to subsidized housing, it's still Cambridge.
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Michael Giles, Agent, Beverly, MA
Mon Apr 28, 2008
Hi St,
If nothing else changes in the neighborhood over the next five years, and you are paying market value today, the value should rise and fall with the market. Also, be careful when making renovations that you don't over spend for the neighborhood.
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