Sharon Multi-Family Homes

As part of the Greater Boston area, Sharon, Massachusetts, is a town that has a large population of 18,286 and lies only about 17 miles from the city of itself. This town, which has a few distinctly urban areas, has a large population of young professionals that work in white-collar industries.

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On average, town residents spend more than 30 minutes commuting, but fortunately, there are plentiful options that include driving, rail transit, and bus options as well. With Boston steadily growing, this town is currently experiencing near-constant growth in its real estate market. In the last year alone, the town has had real estate values increase by more than three percent.

Purchasing a Multi-Family Home

If you're looking for an investment opportunity, it's always a good idea to consider a good multi-unit property because these properties have a tendency to yield consistent profits. In fact, in many cases, these are safe hedges against inflation; housing markets always increase in value and rents also have a tendency to appreciate as well, which means that these properties are usually a safe bet.

If you're wondering what types of properties these multi-unit homes include, here is a list:

• Apartment Buildings – Typically, these have multiple units to a floor, and the majority of the tenants in these sign a lease that lasts for a year or more. Sometimes, these can be converted from a single family home, but in most cases in this town, apartment building have been built for this purpose. These are very easy to be owner-occupied.
• Condos – These have a tendency to have a similar build to an apartment building. The chief difference is that the tenants actually own their individual units but aren't responsible for the exterior of the building. Owners pay an HOA fee in order to keep the property maintained.
• Townhomes – In many situations, a townhome is a converted single-family home that has a wall separating individual units. Each of the attached units can have its own entrance.
• Duplexes – Like townhomes, duplexes can be converted single-family units, but the difference is that duplexes, triplexes, and quadplexes usually have units stacked on top of each other so that each tenant has his or her own floor.

Owning a multi-unit property can be very rewarding to an investor. To find out more about getting the ball rolling on the purchase process, contact us at Boston City Properties.

Selling a Multi-Family Home

With a median sale price for homes being at a fairly high level and with Boston consistently growing, now can be a good time to sell a property in this town. That being said, it's important that you know what you're doing when you're placing a property on the market.

Before you even start the sales process, you should definitely figure out the best sale price for the property. You can go about this two ways:

• You can do your own independent research that takes into account the market and the property values of similar multi-unit properties in the area.
• You can hire an appraiser so that you can get a fairly accurate estimate of how much the property is worth. This is an easy option because appraisers already understand the market in the area. Also, having an appraisal report can help you proceed from a stronger position during the negotiations phase.

For more help selling your multi-unit property, contact the award-winning brokerage, Boston City Properties.

Neighborhoods in the Area

Some of the key neighborhoods in town are:

• Bay Road – This neighborhood is primarily comprised of owner-occupied units, but there are rental opportunities in the area as well. Additionally, there is also a wealth of homes that are pre-war, which means that there's a lot of history here.
• Town Center – If you like the style of home built between 1940 and 1969, the town center of this town could be a good neighborhood for you. Many of the homes are owner-occupied, but there are plenty of opportunities for investors looking to convert a property.
• Sharon Heights – For a more varied experience, this neighborhood has a mix of property types that have designs that fit both contemporary and classic tastes. The Heights is a relatively wealthy neighborhood with many executives and managers calling the neighborhood home.

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