Raynham Multi-Family Homes

Raynham, which is a town in Bristol County, Massachusetts, has a fairly convenient location that's only about 31 miles south of Boston, which makes this town a good choice for anyone that plans on frequenting the city for business or pleasure. Additionally, the town is only about 30 miles away from Providence, which means that it's also well-placed for citizens of that community as well; in fact, it's even considered to be part of the Providence Metro Area. As a result of this optimal positioning, the town has seen steady growth when it comes to the real estate market.

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Purchasing a Multi-Family Home

As a town that has the benefit of being in close proximity to two major metropolitan areas, it's certainly worth considering a purchase of a multi-unit property. These types of properties are a great way to bring in income, and when you own a property of this type, maintenance and other expenses typically fall far below the annual rent amount, which means that the extra income can go directly into your savings.

Profit is one thing, but one of the things that owners consider to be a bar for entry is the fact that a multi-unit building or complex has a tendency to cost much more than single-family units. While that is the case, these properties also have a higher chance of being financed.

Not only can you apply for an owner-occupied financing plan, which can allow you to pay greatly reduced down payment, but standard financing is typically better as well. Banks and lending institutions have a tendency to view these loans as more stable because of the reduced vacancy rate and the fact that properties of this type tend to be resistant to foreclosure.

Properties in this particular town also tend to have three to four bedrooms, which means that many of these can be converted to duplexes or townhome properties. This is particularly advantageous because as the investor, you can execute the conversion yourself and use the aforementioned owner-occupied financing to help pay for the property. Once the upgrade is done, you can simply move out and put the property up for rent in the community for multiple families.

During this process, you can outfit the kitchens with stainless steel appliances, renovate any weakening areas, and install things like hardwood floors. All of these upgrades will make the units more attractive to prospective tenants, which can boost rent values.

If you're considering a property in this area that has multiple units, there are several strategies that can help you turn more of a profit. Contact us at Boston City Properties, and we'll not only help you with a listing of viable properties in the area, but we'll also help you find the one that most fits your needs.

Selling a Multi-Family Home

This is a great town to reside, and with such a growing market, it shouldn't be too hard to find an interested party that would be willing to purchase your multi-unit property. With Both Boston and Providence growing, this is becoming an in-demand area, so there's going to be competition, which means that you'll have to provide a lot of impetus for potential buyers to consider your multi-unit.

Modern trends in housing demand that rental properties have plenty of great features like matching appliances in the kitchen, hardwood flooring, and plenty of outlets for appliances and devices. Before you go to market with your property, consider a renovation to ensure that each unit has the amenities that are popular today. Additionally, consider renovating areas like the bathroom because these can be major selling points for a new buyer.

Also, if there are tenants living in the property, they can help the overall buying process. Talk to your tenants and let them know about the sales process. When it comes time to show the property, include the tenants because, for a potential owner, having a glimpse into what it's like to reside in the property can help cement the deal if there are pleasant tenants.

If you find that you need help getting your property ready for the sales process, contact us at Boston City Properties today. We can help you find interested parties, and we can make sure that you have the tools you need to make a sale.

Neighborhoods in the Area

This town is a relatively small one of about 32 square miles, which means that it only has about two distinct neighborhoods that include:

• Town Center – Living town center provides a few conveniences for residents of this town such as easy to reach retail options and a few parks for families. Vacancies are low in this area that is primarily owner-occupied, and the demand for real estate in this neighborhood is relatively high.
• Raynham Center – While this may sound like the same town center neighborhood, this location is actually an incorporated village. Having a population of over 4,000 people, this village has a primary housing market that's owner-occupied, but there are opportunities for rental properties as well.

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