Scituate Multi-Family Homes

At a distance of only about 31 miles from Boston, Scituate, MA, is a quiet coastal community that has a beautiful shoreline and has a bustling community of 18,598 people. The majority of the population in this town works white-collar professions, which typically means that this is a relatively wealthy area; in fact, many of these white-collar workers commute to and from Boston by highway, public transportation, or ferry. Amazingly enough, the town actually has a higher amount of ferry commuters than more than 95 percent of the entire country, which also means that many commuters have longer commutes.

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Purchasing a Multi-Family Home

Owning property is one of the most independent and wealth-building things an individual can do, and purchasing a property that has accommodations for multiple families can really provide incredible investment profits. These properties have several features that are completely tax-deductible and the month-after-month profits typically far outstrip the operation costs of a property of this type.

Additionally, unlike a single-family home, you can live on the premises of the property and still turn a neat profit. This is because you'll be able to house additional families, whereas with a single-family unit, once you're moved in, you can only really rent a room at most to a lodger. There are even benefits to living this way; in fact, there are special finance options available to owners that live in a property that has less than four rental units.

In addition, owning a property and living on it also opens up possibilities for renovators; it's a common understanding that upgrades on a property can increase its market value, and living on a property and performing these renovations is fairly easy. In fact, some owners live in a property, renovate it, and then move to another property. While this is a somewhat nomadic life, after renovations are done, the property becomes a profit generator for the owner.

What types of renovations and upgrades can an owner start in one of these properties? Well, to start, the property can start out as a single-family home with multiple floors and rooms, but an owner can then convert the home to a multi-unit property and rent each individual unit to a separate tenant and their families. The types of multi-unit properties that typically start out like this are some types of duplexes and townhomes.

Additionally, standard upgrades can also be done this way. Many homes appreciate in value as you install balconies or bay windows; even simple backsplash in the kitchens can add value to a multi-unit investment property. Need help on your next multi-unit purchase in this town? Boston City Properties has helped thousands of clients just like you, so contact us today.

Selling a Multi-Family Home

Selling your multi-unit property? If so, always remember to:

• Get it Appraised – You'll want to know the price of the property, especially as it relates to other similar properties in the area. As a multi-unit property, market trends will have less effect, but a good appraiser can still give you insights, and most importantly, a property value to shoot for.
• Clean Up and Maintain – Do you have creaky doors? Do you have an elevator button in need of repair? Does the floor need resealing? If there are aspects of the property that need maintaining, do so before you put the property on the market; property that isn't well-maintained has a tendency not to sell.
• Work on the Curb Appeal – Plant new trees, bushes, and hedges so that the property looks attractive. It's the little touches that will draw buyers.

If you're having trouble in the selling process, contact us at Boston City Properties so that we can help you sell your property.

Neighborhoods in the Area

This town has three neighborhoods that include:

• North Scituate – This neighborhood houses more than a third of the town's population and is actually considered a village that was incorporated into the town. This part of town is right on the water and is very suburban and scenic.
• Town Center – Much of the town center is coastally located, which makes this part of town very rich when it comes to scenery. This is also one of the more expensive neighborhoods in town; the average rent is over $2,000 per month.
• Clapps Corner – Clapps Corner is the only neighborhood in town that has no coastal area. As a result, rents and home values are a bit cheaper here. Despite having to go through other neighborhoods to get to the coast, five percent of Clapps Corner residents commute to work by ferry.

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