Two single family homes and a condo will host open houses this weekend.
$1,060,000 – 52 Green St., Single Family – Detached Colonial, 2,066 Living Area Sq. Ft., 11 Room, 4 Bedroom, 3 Full & 1 Half Bathroom, Open Houses: Saturday 2-4 Sunday 2-4
$799,000 – 50-52 Beechwood Ave. Unit 2, Condo – Detached, 1,752 Living Area Sq. Ft., 8 Room, 3 Bedroom, 2 Full Bathroom, Open House: Saturday 1:30-2
$875,000 – 316 Common St., Single Family – Detached Colonial, 2,000 Living Area Sq. Ft., 8 Room, 3 Bedroom, 1 Full & 1 Half Bathroom, Open House: Saturday 10-10:15
Sponsored by:
I think I can answer this question very easily and accurately.
That $800,000 house that you think is too much money cost $250,000 twenty years ago. That same $800,000 house cost $500,000 ten years ago. That same $800,000 house will be worth about $1,300,000 ten years from now.
I’d say that’s a pretty good investment.
Not sure I agree with your theory Eric. I don’t see RE prices continuing to increase like that with this pandemic. What many are saying is that we can expect to see more vacant office buildings, a decrease in the housing demand, and continued increases in unemployment.
I am reminded of a coworker of mine that several years ago was looking to buy. He narrowed his search down between a condo in Watertown and a single family home in Waltham. He chose the condo and almost instantly started regretting it. This pandemic has really highlighted his regrets even more. For starters, both he and his fellow condo owners are now home 24/7 so there is considerably more noise in the house. Then his outdoor space is very close to the other units space and that makes it less enjoyable and less usable. Then there are the common areas to the condo. While most of us are not allowing others in our homes during this pandemic, this condo owner feels like he is not only being exposed to what he does in his every day life but also what is fellow condo owners do. Had he bought the single family for the same money he would be using his backyard, deck whenever he chose to, have more peace and quiet and so on.
It will be interesting to see if more buyers consider this pandemic when buying and opt for single family homes rather than shared housing. I know I would. With many predicting a second wave to this pandemic and another “Stay at Home order”. I think buyers will consider this and will want a home that offers a better “Stay at Home” environment.