Home Buying in Lexington>Question Details

Jamesbond, Home Buyer in Lexington, MA

Thinking about moving to Lexington, MA but would like to know more about the community, housing market (sustainability of prices, etc), and the

Asked by Jamesbond, Lexington, MA Thu Jan 7, 2010

school system versus other communities like Wellesley, Weston, Wayland and Winchester. Is Lexington worth the investment in a house over these other communities for the longer term?

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Julie Duncan’s answer
Hello 007!

Not to be redundant, but among these towns, more depends on lifestyle. Lexington, for example, provides a Rt 2, Rt 3, Rt 128/I95 easy access while Winchester is I93, and Weston/Wellesley ate I90.

This link is to Boston Magazines "Best Places to Live" article. All 4 are called 'Recession Proof".

http://www.bostonmagazine.com/best_places_to_live_temp/index.html

I live in Lexington & I am doing business in all 4 of those towns. When working with a Buyer, I have a Buyer Wish List that identifies the "lifestyle needs" to will help choose the town(s) to concentrate on.

Julie Duncan
Web Reference: http://www.julieduncan.com
2 votes Thank Flag Link Thu Jan 7, 2010
BEST ANSWER
Lexington has excellent schools, as do the others. All of these communities have sustainability, but Lexington, Wellesley and Weston probably top the list (and are more expensive.) Other factors to consider would be your commute (where would you need to get to) and how much land you want with your house. If you are using a Realtor, he or she can run an analysis of home prices over the past few years to give you a more detailed comparison. But I don't think you can go wrong with any of them.

Deb
Web Reference: http://homes.debn.net
0 votes Thank Flag Link Thu Jan 7, 2010
Hi Jamesbond,

They are all fantastic communities but I my bias to Lexington can't be hidden. To your question about investement worth - Weston, Wellesley and Winchester are comparable to Lexington in pricing. While Wayland is a great community, I wouldn't compare to the other four towns. Weston and Wellesely have much higher median home prices to Lexington's (by almost double). There's some crazy statistic out there about the percentage of Lexington HS students application/acceptance to Harvard - it's very high. Hope this is helpful...
0 votes Thank Flag Link Mon Nov 15, 2010
It seems that you've done some homework and narrowed down your choices. You received some good answers but, in the end, it comes down to your personal preferences. A good real estate agent can help you evaluate all the information you're receiving and help you decide which town might be best suited for you and your family. While no one can predict how well prices will perform you can review historical performance with your real estate agent to get a good feel as to which towns best survived the downturn.

I work in Lexington and my brother lives in Winchester. I've financed homes in all of the communities you've mentioned and each time my borrowers have found the "ideal" home- the one best suited for their specific preferences and finances. That's where chatting with a local real estate professional comes in handy.

Good luck!
0 votes Thank Flag Link Tue Nov 9, 2010
I expect over the next 1-3 years that prices will drop. More than 5 years is difficult to predict what will happen. Over 10 years, you might as well forget it. Look at what has happened in the last 10 years. Few indeed predicted the bubble before it happened.
0 votes Thank Flag Link Sat Jan 9, 2010
Hello James- Odd, I work with a James Bond as well. I hope he is not moving...
Anyhow, as everyone has said- these are all very good towns to live in that will be able to bounce back pretty good as far as house values.
I would deem Wayland on the "lower" scale of a group of excellent choices. Lower in home prices as well, but still a good town.
Much depends on where you and/or your wife will be working. Winchester is going to be the closest to downtown Boston. You should also check out the tax rates in these towns. I'm not sure how they measure.
If you need any financing help or have any related questions, feel free to contact me anytime. Thanks, and good luck,

Ken L.
0 votes Thank Flag Link Fri Jan 8, 2010
Jamesbond,
I agree with the previous agents, great towns, different but all of them great. If I may suggest, Ask your buyer's agent for a 10 year report on those towns. If you do not have a buyer's agent you should hire one. Then each house is very individual and unique. List all the pro and cons, for all the houses that you will visit and based on your budget and your lifestyle, wants, needs etc for you and your family you should be able to make the best decision. Yanni
0 votes Thank Flag Link Thu Jan 7, 2010
I agree with Deb. All the towns you have mentioned have Excellent school systems! Depending on where you commute to could be the real factor here. Wayland for example is close to the Pike (I90) and Weston is closer to 128. In addition all these towns have sustained prices pretty well.
Web Reference: http://www.mdmrealtyinc.com
0 votes Thank Flag Link Thu Jan 7, 2010
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