Westford Investment Properties

Westford, Massachusetts, which is a town that is located in Middlesex County, is a great option to keep on your radar if you are looking o invest. The town, which has a population of over 21,000 residents, was named the "11th Best Place to Live" in 2003 by CNN Money. The average median value of a home in this area is about $527,500, which is about $270 per square foot. With the five percent growth that this area experienced in the past year, this is a great location to invest, especially since it is expected that the area will grow another three percent or more this year.

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Residential and Commercial Investment Properties

When deciding which investment option is best for you and your money, you are going to need to decide whether a residential or a commercial opportunity is best for you. Each one has its advantages and disadvantages, so do your research before making a decision. Here is a breakdown of the options that will be available to you:

• Single-Family Home – This is an option that you should consider if you are looking for a quick return on your investment. You will have the option to live in the home yourself or rent it out to interested parties in the area. On the other hand, if you want a really quick turn around, you may want to keep it vacant so that you will be able to flip the house and make it more appealing to potential buyers.
• Multi-Family Home – This is an option that will make you a profit, but it may take a bit of time to see a bit appreciation on the property itself. You will receive rental income with this option that will cover the mortgage and other expenses that you have, but you will not be able to update or remodel the units until the tenants that are living there move out. Once you do this between tenants, you will be able to increase the rental rate if you desire.
• Commercial Property – This is any retail or office space that you can rent out to small businesses in the area that are looking for a physical location. The biggest advantage to commercial investments is that when you rent it out, the tenants will most likely be interested in a long-term lease.

Real Estate Market Overview and Neighborhoods

This is an area of the state where the majority of the homes in the area are single-family units that were built between 1970 and 1999. There are also a few multi-family units that you can consider, so make sure to keep your investment options open if you are considering this area. There are four neighborhoods in this town that you can invest in, which are:

• Parkerville / Carlisle Station – In this area of town, the median real estate value for homes is $625,812, which may seem high for the area, and it is, but only because the vacancy rate for the area is 0 percent. This area is in high demand, and even the rental prices are $2,232 a month, so if you are able to invest in a single-family home or an apartment complex in the area, it may be a sound investment to make.
• Town Center – If you are looking for a rental property, this is a great neighborhood to consider because the rental rates in this area are over $3,000 a month. There are single-family homes and townhouse investment opportunities in this area that were built between 1940 and 1999.
• Nabnasset / Whidden Corner – This is another area of town that is great for rental property because the rental rate is about $3,400 a month. This is an area that is made up of mostly single-family homes and townhouses.
• Camp Cielo Celeste / Camp Nashoba – With a real estate median of $429,870, this is a great option to consider investing in, especially if you are looking for a small apartment building or a single-family home.

Choosing the Right Investment Property

Not all investment properties are going to work for you, which means that you are going to need to find a property that works for your needs, your money, and your portfolio. There are quite a few options in this town worth considering, but the best way to ensure that your investment is going to be profitable is to contact a professional at Boston City Properties that can provide you with the resources that you need to make a smart investment. Call today at 617-247-1933 to see what investment opportunities are available in the area.

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