Woburn Multi-Family Homes

In Massachusetts, it's common for professionals in the Boston area to commute to and from a Boston suburb during the workday. In these situations, an easier commute is preferable, so a beautiful city like Woburn is an excellent place to live because it's only about nine miles from Boston. With a population of about 40,000 people, this city is also experiencing a boom in the real estate market thanks to Boston's steady growth in the last few years. Currently, the town is experiencing what can only be described as a very hot real estate market, and sellers are particularly taking advantage of the steady growth, which has experienced an increase of almost eight percent over the last year.

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The city is a great place to own a single-family unit, but for a stable investment, a good home for multiple families can really provide a sizeable return on investment.

Purchasing a Multi-Family Home

Currently, there are several apartment buildings, condos, and duplex-style living situations throughout the town. These properties have a lot of value for purchasers because not only are they very sellable down the line as Boston continues its growth, but they also provide a very stable monthly income for owners. In town, there are at several of these types of listings, which means that this town is certainly an area of the state that should be paid attention to.

For those looking for both an investment and a living arrangement, duplexes, triplexes, and quadplexes are excellent options. Not only can the owner live in one level of this option, but they can also rent out the other floors. As a result, there is a steady income associated with this type of living arrangement. While this close proximity opens up the owner to maintenance request by the tenants, an owner can hire a building manager that can help tenants get the help they need. This is a great type of ownership situation for a new property owner; it adds to the investment portfolio, it's a relatively stress-free living arrangement, and it's a great money-maker.

On the other hand, if the owner already has a living arrangement, purchasing an apartment building is also a great way to generate some revenue and build the investment portfolio. For an apartment building that hosts many families, an owner can purchase the services of a management company to take care of the day-to-day operations of the building. These companies will take care of lease arrangements, evictions, and will even advertise the property to prospective tenants.

Purchasing a property of this type is a great idea for just about any investor, and it's usually easier to get a loan for one of these than many would think. If you're thinking about a real estate purchase in this town but aren't sure where to start, contact us at Boston City Properties; we understand the market and can help you find the property that fits your needs.

Selling a Multi-Family Home

With this hot seller's market, now is a good time to sell a property in Woburn. With the median property value currently almost $500,000 at the median, now isn't a bad time to sell, especially considering that the median has almost doubled since the year 2000. When it's time to put the property on the market, it's important to understand that the property will have to:

• Be Cleaned Thoroughly – The property can't have dirty baseboards, rust should be scrubbed away, and the walls will need to be scrubbed. Many prospective buyers will want to visit the property, so it needs to look its best internally to cement the sale.
• Have its Curb Appeal Addressed – Planting flowers, trimming hedges, fixing broken sidewalks, and cleaning up parking spaces are all steps that a property owner should take to boost the curb appeal of a property. Buyers like to come by and "check out" a property without the owner's knowledge, so having it look nice from the curb is preferable.
• Undergo Repairs – When a buyer comes in to inspect a property, the last thing an owner will want is for them to see that there are broken elevators, damaged air circulation systems, or light switches with broken cover plates. Rather than miss out on the sale, ensure that the building is in tip-top condition when it comes to repairs.

If you're just putting up your property listing, consult with Boston City Properties. We can help you find buyers and we can walk you through the steps to get your property sold, fast.

Neighborhoods in the Area

There are many of these types of properties in this area, and some of the prime neighborhoods for these are:

• Shaker Hill – Rental properties in Shaker Hill have a tendency to be lower in value than the Boston average but are slightly higher than other parts of the state. Shaker Hill is a beautiful area that has parks and wide open spaces for residents.
• Central Square / Walnut Hill – Walnut Hill has a few apartment properties that have reasonable rents compared to the state average. This area of town has a sparser population than the rest of the area, which makes it very suburban.
• Montvale / The Highlands – Compared to the rest of the town, Montvale has a higher population density, which means that it has a decidedly urban feel. Rents are also comparably cheap in the area.

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