Wayland Multi-Family Homes

Wayland is a small town that is located in Middlesex County, Massachusetts. It is a quiet little town that is approximately 18 miles away from Boston. That being said, this is the perfect place for a professional who works in the city to call home because it provides a more relaxed home atmosphere that is preferred by many. For those who prefer public transportation, it is fairly simple to take the train from this town to Boston.

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Purchasing a Multi-Family Home

This may be a small town, but there are quite a few investment opportunities in the area, especially if you are looking for a home that has multiple units. These types of homes can easily be rented out, which can help cover the cost of the mortgage and take care of repairs when the need to be done in a unit. There are quite a few homes in the area that are designed to accommodate more than one family.

• A Duplex – This is a home that is designed for two families. Each family will live on a floor of the building, and the two spaces rarely are shared, unless the entrance to the building is shared. There are also three and four level homes that are called triplexes and quadplexes.
• A Townhouse – This is another shared unit that once again does not share much common space. The units are positioned side-by-side, so each tenant will have access to both floors within their individual unit.
• An Apartment – This is a unit that is designed to create a close-knit community. There are typically multiple units on each floor that can be rented out to tenants.
• A Condo – This is an option that is very similar to an apartment, but the tenant will also have access to perks that may not be available for apartment living. These perks include access to a fitness room, community activities, and more.

The median price in the area for a home is approximately $747,000. This may seem like it is a bit on the high end, but considering the location, and the fact that this is a growing community that is in high demand, it is a great investment to make. In act, during the last year, the value of homes in the area has gone up nearly seven percent. If you are having trouble finding a property to invest in, Boston City Properties can help you, so call us today!

Selling a Multi-Family Home

With a market that is growing steadily, some owners will take this opportunity to sell the home that they own so that it can earn them a profit. There are quite a few things that can be done to ensure that an owner makes the most profit, but the most important thing to do is to take a look at the competition. Are there other homes in the area that are up for sale? Are these homes with multiple units? If so, then it is important to see what the property is priced at as well as the quality of the home and the amenities that are being offered.

The goal here is to make sure that the property that you are trying to sell is the most appealing option on the market. This means that any repairs that are required need to be fixed before the home is listed. It also means that upgrades that will improve the value of the property need to be done. This could be installing stainless steel appliances, putting down new carpet, or retiling the bathroom.

In addition, if tenants are occupying the units already, do not make them move out because selling the home with tenants already committed to a lease will provide a potential buyer with immediate income, which is often preferred by potential owners. It is important that you let the tenant know of your intentions so that they are prepared for the switch in ownership. If you need help listing your property, contact Boston City Properties today.

Neighborhoods in the Area

Wayland has a low crime rate and the residents in the town are highly educated. This is a great place to raise a family; not only because the schools are highly rated, but growing up in a community like this one can provide connections that can be useful in the future. There are three neighborhoods in this area:

• Tower Hill - The northernmost neighborhood in the area is called Tower Hill. It is an area where the real estate options consist of mostly single-family homes and townhouses.
• Town Center – The middle of the town, which is more widely known as the downtown area, is full of homes that were established between 1940 and 1969.
• Cochituate – The southern portion of the town is positioned on Lake Cochituate, and there are high-rise apartments, single-family homes, and apartment complexes in the area, most of which were built before 1969.

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