We are moving to Boston? Where would be a good place to look for a house?

Asked by Run2win645, Boston, MA Mon Jul 8, 2013

Some details - Going to school in south boston and cambridge so would prefer somewhere close to the train lines.

budget of 225 to 250K
Looking for a one/two bedroom.

Looking to live in for 3 years and then rent it out.

Question to all experts out there, what locality should we look at buying (within our constraints). Should we buy or rent? We are looking at a 1/2 bedroom.

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Answers

9
Kevin Vitali, Agent, Tewksbury, MA
Fri Jul 12, 2013
Without knowing your exact situation it is hard to give you a lot of input.

Personally if you are planning to only occupy for 3 years, I would not buy, I would rent. While the real estate market has shown signs of improvement, there is still no certainty about where the market will be in three years.

I always talk to my clients about intermediate and long term housing goals. I would always be leary buying real estate for the short term.... 5 years or less.
0 votes
Territory.c…, Agent, MA,
Wed Jul 10, 2013
If you plan to rent the property (not sell) after occupancy the closer you are to the city the better. Here are some areas that meet your criteria and great places to invest:

East Cambridge (near Cambridge street):
http://territory.com/search?search_string=EAST+CAMBRIDGE%3AC…

Somerville (there are a lot of areas near the train - these listings are displayed on a map so you can zoom in and see the proximity to those train lines):
http://territory.com/search?search_string=SOMERVILLE&min…

Dorchester (again parts of Dorchester are near the train, zoom in):
http://territory.com/search?search_string=dorchester&min…

South Boston:
http://territory.com/search?search_string=SOUTH+BOSTON%3ABOS…

Rents are pretty high right now. With interest rates so low you may be better served investing in your residence and paying at or lower than similar rental.

Territory Real Estate
Boston's Destination for Home Buyer's
617 848 5407 ext 704
Web Reference:  http://territory.com
0 votes
John Dean, Agent, Boston, MA
Mon Jul 8, 2013
This is a challenging budget as you will be in competition with quite a few investors. It is possible but you would need to be working with an aggressive agent to help with this task as these properties are sold quickly if they are in a good area.
0 votes
Kimberly, , Boston, MA
Mon Jul 8, 2013
That is a great price range for Boston! I watch the Back Bay market for this price range like a hawk because studios/1 beds in this price range will sell in less than 48 hours, so a mortgage pre-approval is essential.

160 Commonwealth Avenue, Vendome building, had a jr. 1 bed listed for $250,000 that went on the market a few weeks ago and sold in one day. The Back Bay is great place to buy a condo that you will later use an investment property because there is always a rental demand in this neighborhood and therefore you making a very stable investment!

The key is to have all application all set and then wait for the opportunity to appear. I would be happy to work with you in finding a condo that fits your needs. Please feel free to contact me at kim.bailey@kw.com.

Best,

Kimberly Bailey

617.399.1035
Keller Williams ~ Metro Boston
607 Boylston St.
Boston MA 02116
0 votes
Sharon Norman, Agent, Hingham, MA
Mon Jul 8, 2013
Are you just one person or a family? Currently there is one renovated 1 bedroom for sale in South Boston. There are none in Cambridge, Somerville, or Brookline. You can go to sharonnormanhomes.com to search, or I can set a daily up for you. You will probably have to rent or move farther from the city.
0 votes
Mario Pavli, Agent, Boston, MA
Mon Jul 8, 2013
Hello,

With a $250K budget it's almost impossible to find a 1 or 2 bedroom in the inner city. Watertown, Belmont & Quincy are some of the areas where it's not to far from the city.
0 votes
Wen Farina, Agent, Reading, MA
Mon Jul 8, 2013
It is tough (although a nice challenge) to get something in that range in Boston. But, there are some sf properties in Boston but not many within that that budget range. Are condos an option for you?. You may also want to look at the inventory in other cities on the outskirts of Boston for more inventory and possibly more house for you $. I'd suggest you get your own buyer's agent (if you do not have one) to help you with your search. He-she will be able to assist you much better by having a more in depth knowledge of your objectives/goals. Talking to us does not cost you anything so interview a few brokers/agents and pick one you click with.
Web Reference:  http://wenrealty.com
0 votes
CH Naamad, Agent, Boston, MA
Mon Jul 8, 2013
Hi there,
Your busget is too low for Boston.
You may want to consider other areas/towns outside the city.
Best regards,
0 votes
Richard Shap…, , Framingham, MA
Mon Jul 8, 2013
I think you may trouble finding something in that range. You may want to consider renting.
0 votes
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