Westminster Investment Properties

Located in Worcester County, Westminster, Massachusetts, is a small town that has a lot of charm and significant investment potential for the savvy. This town, which is about 37 minutes from the city of Worcester, is primarily suburban and only has a population of about 7,633 people. Despite its smaller size, the town has its own Montachusett Regional Transit Authority (MART), which provides transportation for commuters on a daily basis.

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With a housing market that has shown a 5.6 percent growth in the housing market in the last year, this is clearly an area of the state that can be of interest to investors looking to make a profit off of real estate.

Residential and Commercial Investment Properties

Once you're ready to invest in property, it's just a matter of finding the right property type for your needs. Fortunately, this area of Massachusetts has several types of properties that can provide a significant return on investment, which is why you should determine, ahead of time, which property works best for you, so let's take a look at what you'll be able to choose from:

• Single-Family Properties – Homeownership is a goal for many modern families, and as a result, you'll find a lot of demand for single-family homes in areas like these. There are a few ways to see a return on investment in a town like this when you're investing in the single-family home market.
• Investing to Sell – If your intent is to make money back at a fairly fast rate, then you should purchase a property with the intent of using forced appreciation. Forced appreciation includes increasing the value of a property by upgrading, and the "flipping" style of home investment is becoming more popular every day. In order to make cash with this type of investment, you'll have to purchase the property and spend money upgrading it to a more modern configuration; there is a significant investment involved, but if you find the right property, there's also a significant profit as well.
• Investing to Rent – With some people, owning a home isn't necessarily the goal. More than a few families don't mind renting a single-family home because these types of arrangements are slightly more convenient. Renting out a single-family provides good cash flow and with leases for these properties, you can take advantage of market forces and experience significant capitalization.
• Multi-Family Properties – These include duplexes, condos, townhomes, and apartment buildings, and as the name indicates, these properties usually have at least enough units for two families. An investor can actually stay in one of these properties and make money off of the other units by sale or by rent. As a result, capitalization rates on these tend to be very high.
• Commercial Properties – If you're looking for a healthy degree of natural appreciation, then commercial properties have a tendency to shine brighter than other investment types. Not only are leases typically longer with this type of investment, but usually tenants sign triple net leases, which also make provisions for monthly pay-ins to things like real estate taxes, maintenance, and insurance.

Real Estate Market Overview and Neighborhoods

Westminster is a town in Massachusetts that has experienced significant growth but is still on the smaller side of things. As a result, there's only one neighborhood in town. This area has a real estate market that certainly leans more towards the single-family property type, but there are still townhomes, apartment buildings, and even condos for sale if you prefer multi-unit properties.

Currently, the median home value for a property in Westminster is about $269,550, which is somewhat higher than the Worcester Metro average and falls below home values for several areas of the state, but with growth occurring in the area, home values are on the rise. Currently, on a price per square foot basis, the town's properties are about $50 more than the properties in the Worcester Metro area.

When it comes to everyday life, this town has a combination of excellent schools, friendly community members, and a low crime rate. Many of the properties here have two- and three-bedroom configurations, which are excellent for an investor looking to either force appreciation or one that's looking to let market conditions appreciate the property values naturally.

Choosing the Right Investment Property

Not quite sure where to begin? Investing in property isn't always obvious; it requires due diligence, patience, and it doesn't hurt to have experts in your corner. At Boston City Properties, we are a brokerage that's been in business for years helping clients like yourself find the right properties to invest in. We have licensed professionals on-staff that really understand the towns and cities throughout the state, so give us a call at 617-247-1933 and we'll get you started finding your ideal property.

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