Salisbury Multi-Family Homes

Salisbury is a coastal town that is located at the Massachusetts and New Hampshire border. This quiet town is located in Essex County, and it is an area of the state that is known for its scenic views and beautiful waterfront. I-95 runs straight through the western portion of the town, which makes traversing the coast a breeze. In addition, Boston is only about 45 miles from this town, which makes a daily commute to the city a possibility. The commute may be a bit long for some, but the benefits of living in this beachfront community far outweigh the commute time.

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Purchasing a Multi-Family Home

There are quite a few benefits to owning a multiple family homes in this area of Massachusetts. For example, when you own property here, you can take one of the units for yourself. This allows you to be on the premise in case a resident from one of the other units in the building have a maintenance emergency or another issue that needs your attention.

Since this is a seaside area of the state, you will need to consider whether you want to rent the units out to someone for a couple of years and allow them to renew the lease, or would you prefer property that allows you to rent the units for a shorter period of time. In general short-term leasing can bring in more rental income during the summer months when families are vacationing in the area, but during the winter months, rentals may be scarce. Decide which of the rental options is going to be more profitable before you decide which multi-unit home is best for your needs.

If you settle on a vacation home in the area, then you may want to consider a small apartment building that was converted from a single-family home or a duplex-style home because these will offer the most space for a family that is vacationing. Also, consider properties with balconies and an open floor plan to make them more family-friendly. Sometimes, a professional is the best way to find a good property to invest in; call Boston City Properties today so that we can help you find a good investment in the area.

Selling a Multi-Family Home

In this town, the median value of a home is about $359,000, which is a reasonable price to pay for property that is on the shore and less than an hour away from a major metropolitan area like Boston. That being said, if you invested in the property to make a profit, the average value of a home in the area has gone up nearly seven percent in the past year. In addition, it is expected to go up another four percent this year, which means that selling the home may be beneficial. What can you do to increase the value of the home?

• Increase the Curb Appeal – The first thing that a potential buyer is going to see is the exterior of your home, so if the grass is not trimmed, the bushes are not manicured, and the siding is falling off of the building, the sale could fall through before the buyer even steps in the building.
• Upgrade Appliances – Another thing that you can do to increase the value of the property is to replace old appliances with new, stainless steel models. This makes the kitchen look more updated, and it will draw the eye of a potential buyer.

Need help listing your property? Call Boston City Properties today to help.

Neighborhoods in the Area

Even though this is a small town with approximately 9,000 residents, there are still two neighborhoods in the area. They are:

• Town Center – In this area, the median real estate price is about $372,000, which is a great deal for a neighborhood that is so close to the water. That being said, the average rental costs in the area are about $2,200 a month, which is higher than 76 percent of the neighborhoods in the entire state of Massachusetts. In addition, there is only a 2.4 percent vacancy rate in the neighborhood, which indicates that the housing in this area is in high demand.
• Salisbury Beach / Browns Point – This is the area of the town that touches the water. This area is mostly comprised of small apartment buildings and single-family homes that were built between 1970 and 1999. There are also quite a few older homes here that were built before 1940.

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