Rummus, Home Buyer in Lowell, MA

Which home styles will resell quicker or does it matter for starter homes/downsizing home buyer market?

Asked by Rummus, Lowell, MA Tue Jan 18, 2011

when buying in the starter home buyers market and downsizing home buyers market i.e. 325k range homes, which home style has more value and which ones resell quicker? Or does it even make any difference.
I heard that median age in chelmsford is mostly young couples, families, so what kind of homes such people prefer?

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6
MaryBeth Mil…, Agent, Pembroke, MA
Tue Jan 18, 2011
According to Neighborhood Link " The median age for men is 38.1 while for women the median age is 40.8" so I would say you have an equal distribution of younger, middle aged and older people in Chelmsford - So that being said the housing stock will reflect various lifestyles in this community. Style is of particular interest to a buyer - but which style? Maybe a ranch for the downsizers, agers in place....maybe the colonial two floor style home for the middle aged group with children who would like sleeping quarters on a different floor from entertainment area or the young group may be interested in the unique or contemporary. My advise is choose a style which works for YOUR lifestyle now but choose that style in a location which will encourage others when it is time for resale. The old adage LOCATION LOCATION LOCATION is the golden rule in real estate, choose the right location, pay the right price, purchase a home to meet your needs and when it comes time for resale you will find the right buyer!
1 vote
Tim Page, , 99037
Mon Apr 16, 2012
If your realtor is honest with you, they will tell you that the ranch style home or the one level home with or without the basement (depending on location) is the best home to buy. The kicker is does your market area have enough of them? I’ve appraised in 15 different cities and three different states and the trend is the same.

1.Young families want to have three bedrooms on the same level so that they are close to the children. They want to laundry area on the main level so that they do not have to walk up the stairs all day long when doing laundry. The next best thing is a two story home with three bedrooms on the same level.

2.Older families do not want any stairs because they do not or can’t walk up and down the stairs and will use the basement for storage or guest bedrooms.

3.Families that have teenagers will usually want separated rooms so that both the teenagers and parents can have some privacy. This is when two bathrooms become important and larger hot water tanks.

4.For resale value and quick sale, it will depend on the people buying homes in your area, but I’ve have to say that the above info is a good place to start.
0 votes
Louis King R…, , 02472
Mon Feb 14, 2011
Within the single family home category, don't overlook the ranch style home if if has a basement. For the same living area, the basement of a ranch style home will be larger than that of a colonial, because the footprint of the ranch IS the living area.

If the basement is unfinished or needs work, you can nealry double the living area of a ranch right in your basement!

That will add value to your home!
0 votes
Territory.c…, Agent, MA,
Sat Feb 5, 2011
Usually the style is secondary to size/price. For example you will find in very expensive towns such as Newton those seeking starter homes will take as much space as they can get for the money and style takes a back seat (splits, ranches, townhomes, etc, all become an option). So sometimes it depends on the market and demand.

I took a look at the number of single families and townhomes/attached that sold in Chelmsford in the $300K-350K price range in the last year and here are the numbers:
SF: 43
Attached SF, Townhouse Condo: 3

Total #'s (all price ranges):
SF: 216
Attached SF, Townhouse Condo: 60

It's clear the Single Family market is alot more active than the condo market.

I hope that helps.

http://territory.com
Web Reference:  http://territory.com
0 votes
Craig M Pitzi, Agent, Lexington, MA
Tue Feb 1, 2011
Hey Rummus

I noted a couple of your questions. All important. I would suggest you need to go out an see some places. Get a feel for different neighborhoods and home prices, and narrow down an area you really want to live.
Age and style while important, will vary from one area to another.

A buyer agent would be a great help and could provide you some guidance. Chelmsford is a great town, but would be best if you find someone to show you around, schedule appointments and help you through this.
0 votes
Heidi Zizza, Agent, Framingham, MA
Wed Jan 19, 2011
Rummus the most common sold home is a colonial
0 votes
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