Maynard Multi-Family Homes

Maynard, Massachusetts is a town that is just north of Stow, Massachusetts and is a great option for real estate that has a significantly cheaper housing market than many of the town's bordering Boston. The city is very beautiful, and there's a very welcoming atmosphere for those living in town. Reaching Boston only takes about a half hour, and the town itself is a great counterpoint to the larger city; the area has a suburban atmosphere, an extensive history, and a smallish population of only about 10,000 residents.

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Over the past year, property values in town have increased by about 11.6 percent, which is a prime indicator that the market is growing. As a result, the town is a great place to invest in, and since it has both condos and apartment buildings throughout, homes for multiple families are a great type of property to consider.

Purchasing a Multi-Family Home

Many of the properties of this type in the city are converted single-family homes. As a result, a prospective investor will find many:

• Duplexes-style Units – These comes in a wide variety of shapes and sizes, but a duplex, triplex, or quadplex, are typically rental homes that have a multilevel design where each family inhabits a separate floor. Since the town has a long history, it's relatively common to find converted duplex-style homes that are converted from turn of the century homes. As a result, homes of this type will usually have amenities like fireplaces, hardwood floors, and stylish wood beams throughout the construction.
• Condos and Townhomes – These types of properties are typically not available for rent but are available for ownership on a unit-by-unit basis. As a result, those that own units will typically mortgage the unit like they would a house, which means that these are typically very stable investments. Townhomes, like duplexes, are typically converted single-family homes that have the living space split via walls between residents. For day-to-day management, a condo or townhome is fairly convenient due to the presence of building staff, which is typically provided by a management agency.
• Apartments – Apartments can be found in preexisting homes or they can have dedicated buildings with multiple units for rent. In any case, these rental properties typically have lease terms for the residents that add structure to the arrangement. In many cases, the tenants in these types of housing situations are temporary, which makes owning an apartment in town very investment-friendly.

Contact Boston City Properties for assistance finding a property in town to invest in.

Selling a Multi-Family Home

For a multitude of reasons, property owners sometimes need or want to sell their properties that have units for multiple families. If it's time to sell a property of this type, there are a few steps that should be taken to ensure a good sale. Here are a few:

• Repairs – Before a property enters the housing market, it's absolutely essential that any lingering areas that are in need of repair get repaired. It's important to build excitement for the buyer, and cracked tiles, warped beams, and nonfunctional elevators are a sure way to dissuade potential buyers from making the sale. Even things like broken screens and cracked cover plates for light switches can undermine your efforts, so get a team in to repair any lingering issues.
• Maintenance – Even if everything is repaired into tip-top shape, it's also crucial that you ensure that all areas are as appealing as possible. A potential buyer is never going to make a purchase without first seeing the property, which is why it's important that everything is neat and clean. This includes not just common areas but tenants apartments as well, which is why it's also important to communicate the sale of the property to the tenants so that they can know about your need to have a neat and tidy presentation for prospective buyers.
• Have the Property Inspected – A buyer is always going to want to have a specialist come in and inspect the property for wear and tear. Rather than wait for this step in the sales process, have a specialist come in and determine if there are any areas of the property that need to be replaced or repaired before a buyer expresses their interest. Typically, if there are issues, a buyer will use this as a means to drive the price of the property down, which can be problematic for the seller.

If you're unsure how to get your property on the market and sold, contact us at Boston City Properties, and we'll help you get listed.

Neighborhoods in the Area

The two chief neighborhoods in this Maynard are:

• Town Center – Property values in this area of town are very reasonable but can be slightly higher than the Massachusetts average. The area is very suburban, and much of this neighborhood has extensive trees and grass-covered areas.
• Parker Street – With property values about 42 percent more expensive than other Massachusetts towns, this area of the town is actually cheaper than town center. That being said, properties in this area are very well-maintained and have several attractive amenities.

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