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Updated over 4 years ago,

Account Closed
8
Votes |
22
Posts

How is the residential real estate market like in NH?

Account Closed
Posted

We are about to purchase our first mutli-unit condo complex in New Hampshire. We usually do business in Mass but we are having a hard time finding good deals on the larger scale in MA. The cash flow analysis of the prospective property is great and seems like a good deal, but one thing i am a little hesitant about is the low population and higher rent averages compared to what we charge in Mass. I know that NH is a nicer and quieter area compared to Mass hence the higher rents (plus the high property tax contributes to that), but from an Investment perspective i am getting worried i might not find tenants easily and have high vacancy %, since it will be eating from our profits, and the mortgage and expenses aren't cheap. The locations we are looking at are mainly towards the Maine border towns ( Rochester, Dover, Portsmouth) mainly.

Anyone familiar with the real estate environment for multi unit condo villages in Dover/Rochester/Portsmouth area of New Hampshire? Any input is appreciated! Plus are there any things I need to be aware of before dabbling into New Hampshire real estate on a commercial scale that are different than Massachusetts ?  Thanks!

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