Middleton Multi-Family Homes

With a population just slightly over 9,000, Middleton, MA, has a small town feel that many in the area find welcoming and cozy. As part of the Boston Metro area, the town is less than 30 miles from the big city, which establishes it as an excellent place to live for professionals seeking to commute away from the busy nature of the city. Additionally, this small town might not remain small for long; it's been established as one of the fastest growing in the Commonwealth of Massachusetts, so it is definitely an area worth considering for real estate development and ownership.

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Additionally, the town also has homes that date back into the 16th century, and the homes peppered throughout town have a tendency to have their own history. As a result, a class of home has come up that's become very popular in the area is the home for multiple families.

Purchasing a Multi-Family Home

When considering property investment in the area, it's important to understand that this is a fairly hot market at the moment; in fact, the values of real estate in the last year have increased by 5.8 percent, and the median home value is currently above the $500K-range. Clearly, with such continuous growth, getting in on the market soon is advisable, especially considering the recent hot nature of just about all of the suburbs in the Boston Metro area.

With investment in mind, homes that house multiple families have a lot of advantages. These units, which include duplexes, condos, townhomes, and apartments, all are great money earners; people need places to stay, and in an area like this one, renting is fairly popular.

Even if a prospective buyer isn't buying into the market for an eventual sale, the purchase of a property that can house multiple families can be very profitable. Not only is a property of this type a prime generator of month-to-month income, but these homes also have a tendency to not require a huge amount to maintain; you'll just have to have a maintenance team on staff to manage any issues that creep up.

While it can be difficult to invest in a single-family home due to the difficulties of getting a bank loan, investment in a larger property that will house more than a single family has traditionally netted a better loan rate from banks. This is because vacancy rates have a tendency to be much lower in these types of properties, which makes them an overall safer investment. In fact, the foreclosure rates on a rental property are typically much lower on average.

Ownership of this type is also much safer for the purchaser as well; with tenants either paying rent or a mortgage, there's more coverage for the investment; if a tenant falls behind, there's less of a deficit than if there was just a single tenant being late. This is part of the reason that properties of this type are seldom foreclosed and are a reliable form of income for the owners.

This town has its share of apartments and townhouses, and there are typically several on the market at any time available for purchase, which is great for prospective buyers. If you are looking to make a purchase in the area, contact us at Boston City Properties; we'll walk you through what's available so that you can find the property that you want.

Selling a Multi-Family Home

With such a steady year-over-year growth rate, it's not surprising that some investors might want to cash in on their investment and sell their existing units that have multiple family residences. Fortunately, Massachusetts is a state that recognizes the rights of tenants, so if residents are living under a lease, they usually will be able to extend the lease, even if a new owner takes over the preexisting property.

There are many reasons for selling a property of this type; sometimes the owner is looking to retire from the real estate industry, and sometimes life just comes up and an owner will need to sell some of their properties in order to make ends meet. In any situation, in a small town like this one, it's still relatively easy to find interest when a multiple family dwelling goes up for sale. This is primarily due to the fact that the town falls so optimally in the Boston Metro area; it's easy for residents to commute from town to Boston, and this convenience makes these properties very attractive.

For those looking to place a dwelling of this type on the market, it's important to communicate with the tenants that a sale is happening. The tenants should do their best to aid in the sale by keeping the common areas clear and by being available if the potential buyers are looking to see how a living unit looks and what kinds of amenities are available.

Currently, this town is in a stable place for property sales, so if you're looking to sell your unit that has tenants, contact us at Boston City Properties.

Neighborhoods in the Area

Since this is a small town, the town itself doesn't have predetermined neighborhoods, but the area itself is clearly growing, and as a result, the town itself is often considered the chief neighborhood. The neighborhood itself has a family-friendly, small-town environment that's excellent for raising kids in, and since it's so easy to reach Boston from the local interstates, it's also very friendly to commuters as well.

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