Scituate Investment Properties

Located on the coast of Massachusetts, the town of Scituate, which is only about 31 miles from Boston, is a larger town of 18,000-plus residents that can serve as an excellent area to invest. With such a high number of residents, residential property investment is a major consideration here, and there are also more than a few retail-friendly areas and business parks that can really serve commercial real estate investors well also. Additionally, despite being a town that's situated on the South Shore area of the state, the town also has fairly low real estate vacancies; in fact, the neighborhood of Clapps Corner has a zero percent vacancy rate.

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Residential and Commercial Investment Properties

Property investment in a town like this has a wide variety of advantages. Not only is this town known for having a good mix of residential property types, but there are also more than a few properties that can house commercial real estate investments as well.

In any situation, there are more than a few advantages when considering investing in property in a town like this. Let's take a look at a few different properties, both residential and commercial, that you can consider:

• Single-Family Homes – Often considered the American dream, single-family homes can be both rented and owned. If you're investing in this market, there is a lot of money to be made; you can opt to flip homes by purchasing them and eliciting renovations, or you can just buy property and rent it to families looking for the privacy and independence that this type of property affords.
• Multi-Family Properties – If you're looking for great finance terms, then purchasing a multi-unit property can be excellent. Lending institutions have a tendency to provide financing easier for these types of property due to the fact that they have lower vacancies. In fact, you can even pursue owner-occupied status and live on the property for a lower down payment.
• Commercial Office Space – With such a close proximity to Boston, a town like this is bound to attract startups that are looking to save cash and not pay the premium prices for Boston real estate. Investing in this market can allow you to have lessees that pay into things like your maintenance costs, your taxes, and your insurance.
• Commercial Retail Properties – Renting out to retail companies and smaller businesses is a great way to generate long-term cash flow. In many situations, retail leases are longer, which means that your month-to-month profits will be steady and fixed.

Real Estate Market Overview and Neighborhoods

When you're making an investment, you'll need to be 100 percent sure that the neighborhood you're settling on will perform. For this reason, it's always a good idea to execute some due diligence before you settle on your final neighborhood of interest. This town has three fairly distinct neighborhoods that include:

• North Scituate
• Town Center
• Clapps Corner

If you're pursuing residential property, it's important to note that much of the town's population elects to commute into places like Boston, so finding easy road access or mass transit near a property is fairly crucial. Additionally, there are also ferries that many of the town's residents use to commute to and from work, so investing in some of the coastal neighborhoods can be worth it as well.

It's also important to note that both the northern part of town and the town center are coastal, and as a result, both of these areas experience a higher-than-average rate of vacancy (about 12 percent). This is a result of both of these neighborhoods are coastal and are thusly seasonally-occupied. That being said, this can be a boon for the right investor that's willing to invest in vacation property.

Choosing the Right Investment Property

Not every type of property investment is for everyone. When you're just starting out, it's a good idea to decide which type of property best fits your investment strategy and start there. While it's always a good idea to diversify your holdings, it's okay to get started in one type of property at first. If you have questions about investing in real estate, give Boston City Properties a call today at 617-247-1933.

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