Saugus Investment Properties
Currently, the suburbs surrounding Boston present an excellent opportunity for investment because of the fact that the city itself is undergoing a period of growth that is affecting property values throughout the area. Saugus, which lies about 11 miles from Boston, currently has property values that are around $428,000 at the median level, and there is significant evidence of growth. As a result, this is definitely a community to watch, especially if you are looking to invest in residential or commercial real estate.
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Residential and Commercial Investment Properties
Throughout the town of Saugus, you will find a series of properties that can easily fall within both commercial and residential real estate categories. It's important to note that the single-family home is very popular in a town like this; in fact, that's the most common type of property in the area. That being said, commercial and multi-unit property investors certainly have options here. Let's take a look at each of the kinds of properties that you'd find here in town:
- Single-Family Units – When people think of rent, the tendency is to think of multi-family units like apartments and duplexes, but it's important to understand that rental single-family properties are fairly common throughout the state. Investing in rental properties of this type can help you capitalize because many homeowners are seeking this kind of property due to its inherent privacy and the amenities. Many of these properties have two- and three-bedroom constructions, which make them perfect for families.
- Multi-Family Units – Multi-family units, as you might expect, are designed to accommodate multiple tenants and the tenant's families. In this town, there are several apartment complexes and duplex-style accommodations that can easily fall into this category. It's also important to note that condos and townhomes fall into this category, and while these properties can be rented out on a unit-by-unit basis, these are most commonly sold to tenants as real estate.
- Commercial Properties – One of the chief benefits of purchasing a commercial property is that commercial leases have a tendency to run longer than other rental properties. As a result of this, you can usually have a fairly stable cash flow for up to a decade's worth of time. Also, commercial properties have a tendency to have triple-net leases, which can help you capitalize faster since the tenants will also pay into insurance, maintenance, and real estate taxes.
Real Estate Market Overview and Neighborhoods
When you're looking to invest, it's always a good idea to get to know the surrounding area in a specific town. Not only will you get to know the properties in each neighborhood, but you'll also be able to find out important information on fellow investors and property prices. Here is a list of the five neighborhoods that make up this town:
- Oakland Vale
- Lynnhurst
- Town Center
- Cliftondale
- Salem Turnpike
As you can see, this town has five neighborhoods that each have a suburban styling to them. All of these are beautiful, but it's important to note that Salem Turnpike actually touches the water, which means that it's a coastal part of the town, and as a result, many of the properties here work as vacation properties.
In addition, property values throughout these neighborhoods have a tendency to fluctuate. For example, Oakland Vale tends to have higher property values at the median level than Salem Turnpike. Higher costs mean a higher buy-in and higher down payments, but dependent on the property type you're investing in, this can also mean a faster return on investment.
Choosing the Right Investment Property
This type of investment takes time and effort, and you should never rush a decision on the property that you end up investing in. For example, commercial property will appreciate the fastest out of most property types, but if you're looking to flip a property for a quick profit, then appreciation isn't a key factor in your investment strategy. Also, if you're trying to invest in a good inflation-proof property type, then many multi-family properties can work well for your needs.
In any situation, you should have someone like Boston City Properties in your corner to help you make strong real estate investment decisions. Give us a call at 617-247-1933 today.
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