Natick Multi-Family Homes

If you're a professional working in the Boston area, Natick serves as a fairly large suburban town that is only about 10 miles from the city. With a population of over 33,000, the town also has an urban feel in some areas, so it serves as a "best of both worlds" type of town. The town is known for its various neighborhoods and friendly people, and the housing market is considered "very hot" due to the year-after-year continual growth of neighboring Boston. In fact, over the past year, home values have climbed by 7.1 percent.

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As a result, the town is definitely one to pay attention to, and with a healthy amount of duplexes, condos, and apartments, it's also worth considering an investment in the town's burgeoning housing market for multiple families.

Purchasing a Multi-Family Home

One of the best features of a town like this one is its history; the area had a large upswing in colonial and ranch-style housing that is perfect for the multiple family market. As a result, this is a good town to invest in a property, convert it to have several rental units, and open it up for business. While doing this, you can reside in the units and get owner-occupied financing so that you won't have to provide a large down payment. Once living in the home, it can be converted into a:

• Duplex – A duplex, triplex, or quadplex is a type of property that has living units stacked atop of each other. Many of the colonial homes in the area are large enough to be converted this way and made into as many as three rental units to generate income.
• Condo or Townhome – Similarly to duplexes, many of the colonial homes and ranch-style houses can be converted into townhomes. Townhomes have units that share a wall and the units can either be tenant-owned or rented.

Additionally, you can also invest in an apartment complex. These dwellings typically can accommodate several families,and owning one isn't as prohibitive as you might think. Typically, you won't have the ability to go the owner-occupied route, but it's possible to find private partners that would be willing to help you invest in the property due to the fact that these homes are often very profitable. In any situation, owning an apartment building as a multiple family dwelling is a great way to earn month-by-month income and to also build out your investment portfolio.

It's just important to remember that the buying process can take time; you'll have to review documents, meet up with the seller frequently, and in some cases, you'll have to engage an attorney. While the end result is almost always worth it, it's a good idea to seek out a specialist when it comes to the purchasing process, and Boston City Properties is a good choice when it comes to purchasing real estate in this part of the state. Contact us, and we can help you get the ball rolling.

Selling a Multi-Family Home

Selling a property of this type does require a bit of preparation, but in a town that currently has a very hot market like this one, you might just want to go through the extra effort to close a sale. In any situation, here are a few steps that you can try in order to facilitate a sale:

• Repair and Renovate – Sometimes, our properties will start to pick up little imperfections over time. Unfortunately, nothing will turn off a potential buyer quicker than a property that's in disrepair. For this reason, if you're putting a property on the market, have repairs done to help the property look great during a tour.
• Clean Thoroughly – Dirty or rusty surfaces are another surefire way to lose out on a sale, so make sure to thoroughly clean any property that will be going onto the market so that it provides a top-notch impression.
• Work on Curb Appeal – Outside of cleaning and repairing, ensure that the property is properly beautified before the sales process. This means trimming the bushes, planting flowers, and cleaning up parking spaces.
• Consult with a Professional – Real estate professionals know exactly what's going on in a local market when it comes to real estate, so consulting with one can really help ensure a listing is sold. At Boston City Properties, we understand what it takes to sell a dwelling for multiple families and we have an extensive list of potential buyers that we can help you get in contact with.

Neighborhoods in the Area

In addition to having communities that span the east, west, north, and south, the town of Natick also has several important neighborhoods in which to live or invest. Here are the most well-known:

• Sherwood – If you enjoy colonial-style homes, the Sherwood neighborhood of this town is a great place to consider. Many of the homes here can be converted to house multiple families as either duplexes or even townhomes.
• Oak Street – Positioned close to Route 9, Oak Street is a location in town that is dotted with cottages and is widely regarded as a vacation area. That being said, there are larger colonial-style homes available that can house multiple families.
• Morseville – As one of the more expensive neighborhoods in town, you can expect homes in this area to be around $767,000 at the median level. This particular area is also very suburban and has some of the colonial homes that are found throughout town.
• Felchville – For those looking to invest in apartment complexes or high-rise apartments, Walnut Hill is an excellent choice. This neighborhood encompasses Walnut Hill, which is an area that also has a school.
• Weathersfield – For those that enjoy ranch houses, Weathersfield is a neighborhood in town that has its share of these types of homes. Lake Forest Park is in this area of town, and there are several rental properties in and around this area.

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