Wakefield Multi-Family Homes
Wakefield, which is a mid-sized town that is located in Middlesex County, is a relatively great place for a family to call home. The crime in the area is low, the schools are highly ranked, and there is plenty of entertainment in the community. In addition, this town is only about 14 miles from Boston, which means that it can easily be a sanctuary where residents return after a long day working in the city. Both US-Route 1 and Interstate 93 are easy to reach form the town, and if public transportation is preferred, there is an MBTA commuter rail that is located in the center of town.
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Purchasing a Multi-Family Home
There is no better way to invest than to find a piece of property in a growing neighborhood. This town is located right outside of Boston, so as the city grows, it is expected that the towns surrounding the area will grow as well. This is because a lot of professionals who work in the city prefer to live in the areas outside of the city. With that being said, buying property in these areas now is a great way to see your investment grow.
Right now, the average price for a home in this area of Massachusetts is about $532,000, and even though that may seem like a large chunk of cash, it will be well worth the investment. In fact, in the past year, the property values have increased by nearly seven percent, with only half of that increase in the next year, you will have made quite a profit on your initial investment.
Consider multi-unit options before you purchase a home in the area because this will give your family a place to live as well as provide a source of income that can help upkeep the property and pay for the mortgage. If you are looking for property in the area, Boston City Properties can help you find a multi-unit home that is worth investing in. Call us today so that we can represent you through the process.
Selling a Multi-Family Home
Not everyone who owns property purchased it to make a profit; however, if the housing market is doing well, it is a great opportunity. One of the best ways to prepare to sell a home is to make sure that it is maintained. When a unit is not maintained, it will require more work to have it in an acceptable condition to sell. This can cost a lot of money, but if the walls are painted regularly and things that get broken are fixed when they need to be repaired, the process of getting ready to sell the property will be less extensive.
It is important to know the competition, so if there are other properties for sale in the area, find out the price point that the home is being sold at and see what they have to offer. The bottom line is that selling property can be competitive, so it is important to make your property more appealing than the one down the street. If updating the cabinets, the countertops, the appliances, or the bathroom will improve the value of the home, those renovations should be a priority. Need help selling your home? Call Boston City Properties today!
Neighborhoods in the Area
The town of Wakefield can be divided into five neighborhoods, which are:
- Montrose – Located on the eastern side of town, this neighborhood had a lot of older homes from between 1940 and 1969, but there are also some newer apartment complexes and high rises in this part of town.
- The Town Center – Centered around Lake Quannapowitt, this area is mostly historic single-family homes, some of which have been converted into apartments.
- Gazebo Circle – Located on the southwestern side of town, this neighborhood is mostly three- or four-bedroom homes and smaller apartments. Crystal Lake Park is located in this neighborhood.
- Greenwood – This area is built up a bit more than the rest of the town, which means that high-rise apartments are plentiful here. The demand for this area is high, so purchasing property here could prove to be difficult.
- Main Street – The housing options in this neighborhood are vast, but most of them were built before the year 1939.
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