Groveland Condos

Conveniently situated in Essex County, this community is only 34 miles away from Boston. Because of its location, there are a number of people who commute to Boston for work every day. Within this area, home buyers will find a growing marketplace. Right now, the median price of a home in the area is at $381,500. This is an increase of $14,000 from the previous year.

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During the last year, the median price of a home rose by 4 percent. At the same time, the average price per square foot dropped from $209 to $194. This reflects a tendency toward larger properties in the area. Currently, residents can expect to pay a median price of $337,750 for a two-bedroom home. While a three-bedroom home costs $407,000, residents can buy a four-bedroom unit for a median price of $461,500.

Enjoy a Beautiful Location

This town spans a total of 9.4 square miles in size. Within the community, residents can find a number of condos located around natural features like the two ponds, the Merrimack River and the city's brooks. In addition, some of the homes in the area have views of the town's forests.

Located in the northwestern section of Essex County, this community is bounded by Newbury on the east. Haverhill is located on the northwest and west of the community. While West Newbury is placed to the northeast, Georgetown is located to the southeast. Meanwhile, Boxford is placed to the southwest. Residents will find the city of Lawrence only 9 miles away from the town center.

While there are no interstates within the community itself, Interstate 94, Route 97, Interstate 495 and Route 113 all pass near the town. Whether residents need to commute to work or already live in the area, this convenient location is an ideal place to call home.

Why Investing in These Units Is a Good Choice

Within this area, residents can find a variety of units available within their budget. In addition to living in the units, residents can also use them as an investment opportunity. These properties can be rented out or held until they can be sold at a higher price. Unlike single-family homes, these dwellings are typically served by added amenities. Depending on the property, residents can enjoy features like a fitness center, walking trails and added security.

These units are more than just a place to live in. If residents choose to, they can rent out their home to gain a passive income. This is an especially good option if the unit is in a desirable neighborhood. These units are also generally cheaper than stand-alone homes, so they can often be purchased for a surprisingly affordable price.

These units are a good option for residents who want to invest in the housing market at a lower price. Over time, the owner will pay off more of their unit. If they want to, they can flip the property later on for a profit. Before buying a unit, make sure to check out the monthly fee and the property taxes. Each homeowners association charges a set amount every month to cover maintenance and community amenities. To make sure that the property is the right option, residents need to make sure that they account for all of the potential fees.

The Types of Options Available

Within this area, there are a number of types of homes available. Residents can buy a home based on their budget and the types of amenities that they want. Within this section of Massachusetts, residents can find large complexes or basic duplexes. From townhouses to brownstones, there are many options available.

Some of the units are built in larger buildings like Victorian mansions. These Victorian units were transformed from their earlier structures into two or more homes. These types of units vary in size and often have a more secluded feel. They tend to have fewer homeowners within each unit than a typical complex. Built in the 19th century, these homes have a traditional style with many original architectural details.

Brownstones are a popular housing option in the area that are made out of brownstone material. These properties typically have multiple units that can be rented out. Residents can also check out townhouse or duplexes in the area.

In recent years, there has been a trend toward loft-style properties and converted warehouses. Many luxury units are placed within former industrial properties. These units often feature high ceilings with exposed beams. There are also luxury properties available that offer exceptional amenities and unique floor plans.

Navigating the real estate market is not always easy. If you need help buying or selling your home, contact Boston City Properties today. Our team can help you find your next investment.

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