Holliston, MA Real Estate

Investing in a home would probably be the biggest financial decision majority of individuals or families make. It is also considered to be a very popular choice as most of them believe it is profitable to invest in a property. There are online calculators that help you with estimated monthly payments, ways you could reduce your payoff time and if you are actually ready to purchase a property.

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Holliston, Massachusetts is a great place to invest in a real estate property. It is located in Middlesex County and is very close to the city of Boston. You are not only in a quiet ambiance but also very close to the urban life. If you want to experience some sunny days and snowy winters in a calendar year, living here could be an amazing choice. There has been a steep increase in the property value in the region and experts estimate it to go even higher in the coming future. The median home value is very close to the state’s median price, but on the lesser side when compared with Boston.

Delinquent mortgage percentages in the town are lower than the overall national average in the United States. The percentage of people who owe more than their home value in the area is lower compared to urban centers like Boston. The city beats Boston even in the median list price per square feet, thereby giving multiple reasons for people to become homeowners in the region.

There are some good food options available in the area. Even if you prefer to use your own transportation, traffic isn’t too bad and there are lots of necessities which are easily accessible. In the last decade, neighborhoods of Braggville and Town Center have appreciated a lot in their value. More than 30% of homes in the region range between mid 300s to mid 400s. It has a crime index of 91; in other words, it is safer than 91% of American cities, thereby providing with another option to invest in a property in the area.

So, whenever you are in the housing market, chances are higher that you would be overwhelmed with the number of choices available. Finding the right category of a home could itself involve a lot of questions before buying the home itself. Let us evaluate the most common types of housing before deciding on what best suits your or your family’s needs:

Single-family homes

If you are looking to stay in a place where there is complete privacy for yourself and your family, a single-family home is the best choice. There won’t be any shared walls and hence the noises that could emerge from neighbors are always minimal. If you are looking to rent out the property, chances are higher than the tenants would stay longer. A lot of people who prefer this type of housing are the ones who try to save to get a home of their dreams. Another advantage you could have is the option of longer leases on a single family home compared to an apartment or a condominium.

One of the key benefits of investing in a single family home is its resale value. In a majority of instances, the prices of houses would appreciate with time. With a single family place, you could possibly sell at a later stage, pay-off the remaining mortgage, if any, and then put the rest towards your next home. And if the house is in an upscale neighborhood, then chances of a price appreciation is almost a certainty.

Property tax is a key indicator while you decide on the type of home and also the county you want to live in. Every state has its own property taxes and it could differ based on every county. If you look at Massachusetts as a whole, the property taxes in the state are less than the 1.5% mark, which is still better than a lot of states.

Another point to keep in mind is the fact that single-family homes generally cost less to maintain over a period of time. One of the reasons for this is that it is generally occupied by a single or small family. Even if you have tenants and they take good care of the property, the maintenance costs are likely to be low.

There are a number of different types of upgrades you could do on a single family home. If you have sufficient space in the backyard, you could possibly turn that into a swimming pool. If you do not have a covered patio, you could upgrade it to one. If you like porch in front of the house, you could let the builder know about it and they would make it for you. You could have a great barbecue party in your backyard and some fun times with your loved ones. There are nice balcony options available in single-family homes. If you want to have a great sunset or beach view, this would be an ideal choice for you.

Single-family homes are generally more spacious in the front even if your kids want to play around in the area. You could even have a small basketball court set up in the front portion of the house. Most of the houses have decent garage spaces; so you could stuff and organize your belongings in the garage.

There are lots of options available in the greater Boston neighborhoods for a single family home. The range of houses is less than a 1000 square feet to more than 6000 square feet, thereby meeting the needs of all sections of the society.

Condominium

A condominium is a great option if security is the most important factor while you are in the process of buying a home. Most of the condos are gated communities and has a security professional on the ground to monitor things. Also, since you would be living closely with other people, chances are likely that someone could be of help in case of undesirable emergencies.

Amenities are another great factor to consider while making a home purchase. Condos are known for some great amenities like swimming pools, gyms, and clubhouses in the community. There are generally social gatherings within the community, thus ensuring you know who you are staying with. You could just relax by the pool after work or meet up with a friend over a cup of coffee in the clubhouse. If you are someone who prefers staying at higher elevations, you would prefer a condo on top floors, thereby getting some beautiful views of the city. These are options generally out of budget for the everyday joe.

If you do not like mowing and at the same time want to experience the joy of a property, a condo is a great choice for you. There is no need to mow and no physical activities involved. Most of the working professionals prefer condos and rather pay some extra bucks for their maintenance needs. If you have a backyard and if you do not take care of the grass, you would end up paying a lot more for maintenance. This challenge gets eliminated in a condominium. Condos are also wheelchair accessible and you would not miss out on meeting a friend or family member who is disabled.

Price is another key element that drives most people to purchase condos. They could be much cheaper than homes even though a lot of other factors go into consideration. If you are a first-time buyer, condos could be a great buy to build some equity. And lower mortgage means extra savings. Insurance rates are generally lower for condos and the owners are expected to take care of the property from inside.

Most of the condo groups would have certain rules which would be most welcomed by people if they are living in close proximities. No option of playing loud music after late hours in the night is just one of the examples. Also, condo buildings have elevators in them; this could be a welcoming option for people who do not like staircases in the house, especially to move things around. Living in a condo comes certain powers like the right to elect representatives to the association or nominating yourself for one.

The greater Boston area has all sorts of condominiums. If you are looking for an old vintage looking condo or a property with some modern state-of-the-art amenities, you are covered. The competition is pretty high for the supply available. Also, there are some good elementary, middle and high schools available in the region for your kids. There are also some great universities, not very far if you decide to live in the greater Boston area.

Apartments

Apartments are great means of convenience to people who do not stick to a place for long. Leasing is one of the most important factors when it comes to apartments. Lease terms are generally smaller and flexible too. If you are unsure about how long you would be staying, there are month-to-month payment options available.

Maintenance is one aspect you mostly would not have to worry if you are staying in an apartment. Be it minor repairs like the change of light bulbs to major issues like the failure of an air conditioner, the apartment complex will have you covered. Most of the apartments even offer 24/7 emergency services so that you are not left out without help. There are no backyards to take care of or any kind of mowing activities.

Most of the apartments have modern facilities like gyms and fitness centers, swimming pools, barbeque grills to name a few. If you want to just have some quiet time sitting by the poolside or stay fit, you do not have to pay an extra penny for the apartments. In some places, even visitors have the accessibility to these amenities; they would only need to be accompanied by the owners. You would also have carports and garage, generally at an extra price, but it shields your cars from rains and dust. Also, the leasing office holds get-togethers and games, thereby giving an option for the community members to interact with each other.

Affordability is the most important factor while deciding to live in an apartment. They are generally cheaper than home mortgages and the homeowner's insurance rates for apartments are very less. If you have a roommate, you could split the expenses and save more. It would also be cheaper for water and electricity bills in an apartment. You would also not be paying anything extra for refrigerator, dishwasher or microwave as they come pre-installed.

Nowadays, apartments are mostly gated communities and there is some sense of security. A lot of apartment communities employ security agencies for the property and some even have police patrol at least once a day. You also have the option of immediately reporting any misbehavior or misconduct in the community to the owners. Apartments are mostly in the vicinity of populated neighborhoods. So you might not have to travel a lot if you want to go watch a movie or get some groceries from Walmart or Costco.

Both buying and renting an apartment comes with advantages. Renting has so many benefits as listed above, but the biggest advantage of buying an apartment is its price appreciation with time. If you are looking to buy a bigger property, using the money from the sale of the apartment towards down payment sounds so much rational.

If you are deciding to live in the greater Boston metropolitan area, there are tons of apartments available which are not only furnished but also in the vicinity of restaurants and shopping areas. You could find all options that suit your needs on sites like Zillow and Redfin. Alternatively, you could even contact a property agent who could be of great help to you.

Conclusion

Irrespective of which home type you choose to live in, investing in a property is always a good option. It not only gives you a sense of satisfaction that you own a place but also gives you the privacy and comfort that you and your loved ones deserve.

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