Looking to House Hack in Boston Metro West

[Michael Silver]

Hello Boston area BP members,

I am going to be moving out to Boston from Colorado for a new job in mid-June and am looking forward to getting to know BP members in the greater Boston area. My goal is to get into a cosmetic distress house hack situation within the next 6 months to a year, though I know prices are pretty insane out there when compared to Denver. I have been learning a ton through BP resources and members, have been steadily decreasing my expenses, and with this new job, will increase my income by nearly 40%. Right now I am looking to rent temporarily in the Newton, Natick, Weston, Wayland or Framingham area as I search for a single family or duplex house hack opportunity (hopefully in the $350-400k range). I’m curious to know your opinions about investing in those areas. I hope to meet many of you soon at a meetup in the Boston area.

-Mike

[Charlie MacPherson]

@Michael Silver Of the towns you've mentioned, all but Framingham are among the most expensive in the state.

There's one potential candidate in Natick right now along with 7 in Framingham.  Those are the only properties priced at $400K or less in those towns.

Depending on your commute and whether the MBTA Commuter Rail is useful, or if you can tolerate the drive to work, I recommend looking south to Plymouth and Bristol counties.  

Prices are more reasonable.  For example, there are currently 374 homes at or below $400K in Plymouth County and 446 in Bristol County.

For a more fair comparison, there are 200 in Middlesex County as a whole.

Norfolk County might be a good compromise commute-wise.  There are now 144 $400K or less homes on the market there.

A resource you might need in order to determine whether the MBTA is a viable commuting option is www.MBTA.com.  Use their trip planner function to input your start and end points.  If you can find a way to stay off the highways between 5:30 and 10:00 AM, your quality of life will improve dramatically.

Good luck in your decision!