Princeton Multi-Family Homes
Looking for a family-friendly town to call home? Well, Princeton, which is located in Worcester County, is the perfect small town to invest in. There plenty to do in the neighborhood, but one of the main draws to the community is Mount Wachusett, which provides plenty of hiking and skiing opportunities for a family to enjoy. In addition, Princeton is only about 56 miles from the town, so if you need to travel to the city for any reason, it is easily doable.
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The average price for a home in this area is about $364,000, and in the past year, the value of the homes in the area has increased by 5.5 percent. That being said, this is a great town to consider investing in, especially since the values of property in the area is expected to continue to rise.
Purchasing a Multi-Family Home
There are quite a few options available in the town of Princeton for anyone who is looking to invest in property with multiple units. There are two-, three-, and four-unit options available, but the area also has options if you want more units in the building. What are some of the property types that are available?
- Duplexes, Triplexes, and Quadplexes – These are homes that are multiple floors. Each level is a separate unit, which makes it convenient for you, as the owner, to take one of the units for your family. This allows you to be on-premise to maintain the property and it also opens up the option to get an owner-occupied financing option, which will require a much smaller down payment than a traditional loan.
- Townhouses – These are homes that are positioned next to each other; the walls are shared, but the entranceway is not. These are often found in older parts of town s because they can be converted single-family homes, but there are definitely newly constructed townhouses as well.
- Apartments and Condominiums – These are buildings that are divided into multiple units. These can be spread out in a complex or stacked up in a high-rise fashion. Either way, this multiple unit option leaves plenty of space for you to reside in one of the units if you choose. You can also hire a management team to help manage and take care of the property.
If you need help finding a home with multiple units in the area, it is always best to contact a professional. Boston City Properties knows the area, so call today to find out what properties are available.
Selling a Multi-Family Home
One of the main reasons that you may want to sell your multi-unit home is that you are trying to make a profit on your investment. To have an idea of the market in this area, it is important to take a look at the other properties for sale in the area and see what they have to offer. Your property needs to be more enticing to a potential buyer, which means that if your competitors have carpeted flooring, you need hardwood flooring in your property to make it look more luxurious. Here are some other things that you can do:
- Find Upgrades – there is always going to be something that you can do to increase the value of the property that you are trying to sell. Kitchen and bathrooms are often the focal points of potential buyers, so if you want to get the best offer possible on your property, start there. Installing updated tiles, granite countertops, and stainless steel appliances is a great start that will not cost a lot.
- Clean and Repair – Nothing needs to look old or broken when you are showing the property to a potential buyer, so you will need to make the property look appealing. This included the paint, the carpeting, and the landscaping. The first impression of the property could make or break the sale.
- Contact a Professional – If you have never listed a property before, you don't want your inexperience to cost you offers. Boston City Properties can help you list your multi-family unit and find a buyer quickly, so call today for representation.
Neighborhoods in the Area
With a population of fewer than 3,500 people, it is easy to see why the small town only has one neighborhood. This town is full of artists, which is part of what shapes the atmosphere of the area. The schools are highly rated, and the crime in this community is considered to be some of the lowest in the country, which makes it an extremely safe place to raise a family.
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