West Newbury Investment Properties
If you are looking for a small community to invest in, then West Newbury, which is located in Essex County, has a population of a little more than 4,000 residents. The 14.7 square mile town is only about 34 miles north of Boston, which makes it a great option for professionals who prefer small town living to life in the city. Commuting from the town is convenient, which makes this a town that is worth keeping an eye on when you are looking to invest.
Click Here to Search Investment Properties
Residential and Commercial Investment Properties
One of the first things that you need to consider when you are looking for a property to invest in is whether you want to invest in a commercial property or a residential one. Commercial opportunities can provide you with income and rental options, but they may not appreciate as quickly as a residential property. Here is a breakdown of all of the investment options that are available to you in this town:
- Single-Family Residences – This is an option that is plentiful in this small town. With this option, you can either occupy the home and wait for it to appreciate, rent it out to interested professionals in the area, or flip the house to force appreciation on the property. When you flip the house, you are basically going to update the home and make it more attractive to potential buyers so that you can sell it at an inflated price from what you purchased it at.
- Multi-family Residences – These are homes that are designed with more than one unit. Apartments are the most common multi-family units in this area, but duplexes, townhouses, and condos are also available as well. One of the advantages of this type of property is that the median price is very similar, but you will get more rental income because there are multiple units in the building.
- Commercial Retail Spaces – This is a type of investment that you can invest in and rent out to companies that need a storefront in the area where they can sell their merchandise. One of the advantages of this type of property is that most businesses will sign a lease for at least five years so that their customers know where they are located.
- Commercial Office Space – This is also a commercial option, but it is more designed for small companies that need a place to gather. This is a great option for startups, so if you find a lot of small companies in the area, then this type of investment may be well worth your time.
Real Estate Market Overview and Neighborhoods
The median real estate price for real estate property in this area is about $568,000, which is a bit more than some of the suburbs that are located in the Boston Metro area. However, with all of the growth that the area is experiencing, this area is going to provide great investment opportunities as well. In fact, in the next year, the median value of homes in the area is expected to increase by at least two percent.
This is an area that is occupied by mostly white-collar workers, which means that there are a lot of professionals and office workers in the area. The schools are highly rated, which makes this town a great place to raise children, and the crime in the area is amongst the lowest in the country. While most of the investment options in the area are residential, there are quite a few commercial options available as well.
Choosing the Right Investment Property
When you are looking for a new property to invest in, it is important to consider all of your options in the area before you choose one because not all investments are going to work for you and the money that you have available. However, if you have a team of real estate specialists, you are going to be able to easily do your research and find a property to invest in that is going to be good for your portfolio. Boston City Properties has years of experience in the real estate industry; our agents know the area and have the resources to help you find the best property to invest in. Call us today at 617-247-1933 for more details.
Click Here to Search Investment Properties