First home, no kids, $500k budget, S/SW of Boston (Quincy: mortgage, day care)

[pszczolka]

Hello,

Long time reader, first time poster!

My husband and I are in our early 30s and looking to buy our first house. He works in Randolph, I work in Boston and would like to keep taking public transport (I work in the South End so Back Bay is convenient).

We've been thinking about the areas of Norwood, Sharon, Dedham? We currently live in Newton and are planning on heading down to see some open houses as soon as we have a free weekend but I find so many of the posts her insightful, especially from people who live in the communities.

We don't have children though we are hoping to have our first in the next year or two. Schools, therefore, are not really important to us because we will most likely move before our first heads to kindergarten (we tend to move every 4-5 years because of my job). However, we would like someplace that has a downtown or an area we could go for brunch and eventually take walks with our kids. It would be nice to have the sort of community where people know their neighbors and there are social events.

As mentioned in the title, we are looking to stay under $500k and our ideal would be a 3 bedroom, 2.5 bath (though I've accepted it will probably be 2) and between 1500-2000 square feet; we don't want anything too big.

Initially Sharon seemed like it might be a good choice but I've since learned the property taxes might erase any benefits from a lower house price.

Open to any and all suggestions and thanks in advance!

[495neighbor]

If not BackBay station, what public transportation are you currently using to get into the South End? The South End not Southie, right?

[pszczolka]

Currently I take the D line to Hynes and walk about 1.2 miles, which is fine. I'd probably walk from Back Bay and it would take me about 12 minutes. I'm right at the end of the South End, close to BMC.

[jayrandom]

If you aren't worried about schools Norwood seems like a good fit. Norwood Center is walkable, has a good selection of restaurants, and relatively low taxes (lower rate and lower valuation than Sharon, so much lower taxes). It also has my favorite breakfast place (it definitely strikes me as more of a breakfast town than a brunch town).

Canton might be a good choice, too. More expensive than Norwood, but closer to Randolph and faster commuter rail to Boston. It is more expensive so you might struggle with your budget to find something great.

Walpole is worth considering. It has a nice town center, friend,y neighborhoods, and would be doable on your budget. It's further out and a longer commute to Boston and Randolph, though.

If you're willing to settle for a smaller place, you might find something in Islington (a neighborhood of Westwood) in your price range. It is walkable and friendly, but there aren't nearly as many restaurants as Norwood. Before we moved we'd walk around Islington with our daughter and would see a lot of other people or walking, too. Taxes and prices are higher in Westwood than Norwood or Canton (but rates are lower than Sharon), but schools are pretty good if you do end up staying.

Dedham has restaurants and easy commuter rail access, but the two are not really within walking distance of each other. The commuter rail station in Dedham (Endicott) is in a very residential neighborhood.

Those are the towns I'm familiar with. There may be other good suggestions, as well. You might consider Milton, Braintree, or even Quincy, too.

[Dm84]

I'm going to throw Stoughton into the mix. Easy commute for both you and your husband and you can basically buy your dream house with that budget.

[CaseyB]

I'd recommend Walpole.

[GeoffD]

Originally Posted by pszczolka

(we tend to move every 4-5 years because of my job)

Then you are a really lousy candidate to be buying a house. Boston is a very expensive housing market and prices have shot up to unaffordable prices. What happens 4 years from now if we have a recession, housing the market corrects, you change jobs, and you have to sell your house? You have the realtor's fee to pay and the mortgage to pay off. I was in that situation once. I had to zero out my savings and borrow against my paid-for car to buy my way out of my housing mess.

If you're going to buy, make sure you at least don't over-buy. In the doomsday scenario I described, you can still buy your way out if you are in a less expensive house. "Good" towns correct less than less-good towns in a market downturn. It's easier to sell a very small house in a good town than a big one in a town with a lousy school system.

From my personal life's lesson, I'd never again consider buying a house I didn't think I could live in for the rest of my life. I, too, bought something thinking I'd only be there a few years and then sell it when a job change forced me to move. Circumstances could change in your life where the house you're about to buy is indeed your last house for a very long time.

[495neighbor]

If you are planning to have a baby soon, if I were you I'd start researching day care options in the towns mentioned. I'd also choose the town with the shortest commute out of the ones I liked best to alleviate the stress of getting home from work to a newborn.

[pszczolka]

Originally Posted by GeoffD

Then you are a really lousy candidate to be buying a house. Boston is a very expensive housing market and prices have shot up to unaffordable prices. What happens 4 years from now if we have a recession, housing the market corrects, you change jobs, and you have to sell your house? You have the realtor's fee to pay and the mortgage to pay off. I was in that situation once. I had to zero out my savings and borrow against my paid-for car to buy my way out of my housing mess.

If you're going to buy, make sure you at least don't over-buy. In the doomsday scenario I described, you can still buy your way out if you are in a less expensive house. "Good" towns correct less than less-good towns in a market downturn. It's easier to sell a very small house in a good town than a big one in a town with a lousy school system.

From my personal life's lesson, I'd never again consider buying a house I didn't think I could live in for the rest of my life. I, too, bought something thinking I'd only be there a few years and then sell it when a job change forced me to move. Circumstances could change in your life where the house you're about to buy is indeed your last house for a very long time.

Thanks for your concern Geoff but we're comfortable with our decision to buy. We are being conscious of places where it seems the house at least won't lose value (and I understand that no one can predict this) and if we need to stay longer then that won't be a problem. If we waited for a house we thought we could live in for the rest of our lives we would never buy something!

[pszczolka]

Originally Posted by 495neighbor

If you are planning to have a baby soon, if I were you I'd start researching day care options in the towns mentioned. I'd also choose the town with the shortest commute out of the ones I liked best to alleviate the stress of getting home from work to a newborn.

That's a great point about the day care (the baby is a recent decision so we're not in that mindset yet). Right now I think we're leaning towards Walpole. I'll be able to stay home for almost the first 6 months and my husband's commute from Randolph should only be about 20 minutes and he has a flexible schedule. I wish it was a bit closer for me (seems like it will be around 45-50 minutes door-to-door) but I think the extra 10 minutes is worth it. I'm sure once we get into the towns to have a look around we'll have a better sense, too.

Norwood also seems to fit more what we are looking for but I know I read in some places on the forum that it's on the decline?

Canton also seems like an ok choice - would be a shorter commute for me (probably 35 minutes door to door) but I can't really get a read on the place. Seems like there's not too much bad, not too much great? I did also see there was a shooting there back in May...

I forgot to mention that we're starting to look now but probably won't buy until the beginning of 2016.