Salisbury Investment Properties
Situated right on the border of New Hampshire, Salisbury, Massachusetts is a beautiful coastal town with two distinct neighborhoods. The town is only about 45 minutes from Boston and has more than a few options like I-95 for commuters. This combined with the fact that this is a vacation-friendly coastal community makes this town a very investor-friendly place. In fact, property values are on the rise currently and are predicted to rise another eight percent in the next year.
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Residential and Commercial Investment Properties
When you're ready to consider the type of investment that you'll engage in here, you'll have two choices that include commercial and residential real estate. Luckily, there are more than a few properties to consider that can be well worth your investment capital. For example, 52.7 percent of the property market is made up of single-family homes, which can be strong investment real estate options. These properties, which are often considered part of the American dream, can either be bought outright for resale or rented to families looking for a semblance of the homeownership experience.
Additionally, you can also opt to invest in multi-unit properties like apartment buildings, condos, townhomes, and duplexes. These types of properties make up almost half of the properties in this town, so there's a strong market for investors. These properties are also available for owner-occupied financing if they have four units and under, which means that you can live on-premise while taking advantage of a lower down payment on the property.
Condos can also be used this way and the remainder of the units on your property will be owner-occupied as well, which means that you can depend on the homeowner's association for things like maintenance and upkeep.
Commercial investors also have a very strong market in this town. Not only are there ample opportunities for retail space, but this town is also a major hub for startups and small businesses, which means that office space can be a lucrative investment.
Any of these types of investment can make you a quick return, but let's take a look at other reasons why they can be beneficial:
- Cash Flow – When you're renting out a property, you'll be receiving rental income from each of the associated housing units. While some of this income will be used for mortgages, taxes, maintenance, and insurance, a sizeable amount of the monthly rent income should end up in your pocket. You can even use this extra to elicit renovations so that you can force the appreciation of the property.
- Property Exchanges – If you purchase a property that isn't performing like you'd like, you have options. A 1031 exchange will allow you to swap out this property for another one owned by another investor. This is an excellent way to grab a replacement property that should see you earn a larger piece of the pie. These exchanges can even provide tax deferments on your acquisitions.
- Write-Offs – Sometimes, property acquisition can be burdensome, but when you're an investor, there are some costs that you can write off when you're doing your taxes. These can include maintenance, tax, and even mortgage interest write-offs, which can save you your valuable cash.
Real Estate Market Overview and Neighborhoods
As a smaller town, it's important to note that there are only two neighborhoods in Salisbury. These include:
- Browns Point – This coastal area is the only part of town that touches the water, and as a result, it's also very popular with vacationers. As a result, almost 40 percent of the properties here are seasonally-occupied, so properties like vacation homes and retail spaces are worthy investments here.
- Town Center – The landlocked part of town also benefits from the nearby coast, but that being said, properties here have a far lower vacancy rate; in fact, in this area, the vacancy rate is only about 2.4 percent. As a result, multi-family, single-family, and standard commercial properties like office space are very viable here.
Choosing the Right Investment Property
When you're thinking of an investment, it's always a good idea to perform the right level of due diligence before settling on a location. In fact, we always suggest that prospective investors consult with a brokerage before making any decisions. Boston City Properties is one of the Boston Metro area's most successful brokerages, and we've helped thousands of investors find their optimal investments. Give us a call today at 617-247-1933.
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