Should I move to Lexington? (Open to other suggestions) (Boston: middle-class, condo)

[claiz]

Chicagoliz - I live in Lexington now and used to live in Newton. My suggestion to you is to consider towns like Lexington, Belmont and Concord. I love Newton but commuting from Newton to Lexington in rush hour can be tough (depending on which part of Newton). School systems of Lexington/Belmont/Concord are highly rated, and have a town center that you may like. You will still be quite car dependent though.

The real issue is to find a decent house in your price range given the fierce competition. The lack of decent inventory probably is your biggest problem, thus I won't cross out towns too early in the process.

PM me if you want more detailed information.

[Ninotchka P]

Originally Posted by jayrandom

If by "investment" you mean has a greater chance of appreciating, wouldn't the town that's up-and-coming have more room to appreciate than the town that's already there?

Not necessarily. At the OP's price point, she would be at the lower end of the market in Lexington. That has more potential upswing than if you purchase at the higher end of a market (basic real estate axiom). Houses in her price range in Lexington have appreciated 25% in the last 3-4 years. The over $1 million dollar McMansions, not so much.

Not the biggest concern for OP since she's planning to stay a while, but just something to mention.

When we were house hunting we weren't comfortable spending much over $700k in Arlington (say $800k+ in today's market) - once we hit that price point we starting focusing on other towns. This coming from someone who rented in Arlington and loved it. That doesn't make it the best choice to purchase a $900k home.

[Parsec]

Originally Posted by Ninotchka P

Not necessarily. At the OP's price point, she would be at the lower end of the market in Lexington. That has more potential upswing than if you purchase at the higher end of a market (basic real estate axiom). Houses in her price range in Lexington have appreciated 25% in the last 3-4 years. The over $1 million dollar McMansions, not so much.

Not the biggest concern for OP since she's planning to stay a while, but just something to mention.

When we were house hunting we weren't comfortable spending much over $700k in Arlington (say $800k+ in today's market) - once we hit that price point we starting focusing on other towns.

Thank you. At that price point I'd be looking at other towns like Bedford or even Concord (high prices like Lexington, but less house-hunting competition). There is a heavy price premium in Arlington due to its location. That might be just what the OP is looking for though, so the bottom line is she needs to come visit.

[Brave Stranger]

Originally Posted by Parsec

After reading your post I still don't think I spewed any misinformation other than the part where I was misinformed low income housing. I know there are several high-rise low-income apartments in town, but I wasn't aware they were considered senior housing. When I said Arlington is more diverse, I meant economically diverse which is why I pointed out the blue collar vs white collar population. I only pointed out Lexington's ethnic makeup to hint that it has one of the highest Asian populations in the area. The elementary schools are over 30% Asian now.

I never said Arlington schools aren't good; I only said they aren't on the same level as Lexington schools. You can pick and choose elementary schools that are high performing. Here's an analysis done by another member:



I know Lexington isn't on this list, so maybe 3cents can chime in with those results too. As you can see, Arlington is all over the board because there are "good parts" and "bad parts" of town. In reality this means "wealthy" and "less wealthy". It's my opinion that I wouldn't spend $700-900k in Arlington regardless of what the median prices are there. How is an opinion considered misinformation? I'm not insinuating anything - my home is my home, not an investment as you are assuming. I'm only here to point out certain facts and let the OP decide what's important to them. I have no personal interest in either town, but you obviously live in Arlington and get offended when people point out certain facts that you don't like.

PS - FWIW the housing stock in Arlington is much older and smaller than in Lexington. The lower prices reflect that. The OP should pay attention to density if that's important to her - Lexington has mostly 20,000 sf lots whereas Arlington has 6,000 sf lots. The houses in Arlington are also much older and smaller. These are things she will have to see for herself when she comes to visit.

I do not think you were spewing bad info on purpose, you're a good poster, just misinformed in this case IMO. It happens with some posters out here I suspect because Arlington is changing so rapidly. Senior housing is big in Arlington, that's where they are stashing all the misplaced Arlington townies You were still way off on the ethnic makeup of the 2 towns. Arlington is more white than Lexington in absolute numbers & percentage. As for the price-point of property in town & what people are willing to invest.....the numbers talk for themselves.

I never said Arlington schools were on the same level as Lexington , either ? And I told the OP such....BTW I don't live in Arlington; I own rental property there.

Yes....Arlington lots are tighter.....though I would match the heights neighborhood on the water tower side of Mass Ave with most of E. Lexington which is more run-down. There are no facts on Arlington that I don't like to see, no place is perfect, or for everyone. I have mixed feelings about the rapid displacement of the townies & the middle class in town....

[Parsec]

Originally Posted by Brave Stranger

I do not think you were spewing bad info on purpose, you're a good poster, just misinformed in this case IMO. It happens with some posters out here I suspect because Arlington is changing so rapidly. Senior housing is big in Arlington, that's where they are stashing all the misplaced Arlington townies You were still way off on the ethnic makeup of the 2 towns. Arlington is more white than Lexington in absolute numbers & percentage. As for the price-point of property in town & what people are willing to invest.....the numbers talk for themselves.

I never said Arlington schools were on the same level as Lexington , either ? And I told the OP such....BTW I don't live in Arlington; I own rental property there.

Yes....Arlington lots are tighter.....though I would match the heights neighborhood on the water tower side of Mass Ave with most of E. Lexington which is more run-down. There are no facts on Arlington that I don't like to see, no place is perfect, or for everyone. I have mixed feelings about the rapid displacement of the townies & the middle class in town....

Alright, just a misunderstanding. I just felt that it's not wise for the OP to spend that much money in Arlington. She can either find suitable housing in Arlington for $600k or look in a more upscale town with top-notch schools if she wants to spend close to $900k on a home.

[Brave Stranger]

Originally Posted by Parsec

Alright, just a misunderstanding. I just felt that it's not wise for the OP to spend that much money in Arlington. She can either find suitable housing in Arlington for $600k or look in a more upscale town with top-notch schools if she wants to spend close to $900k on a home.

Yup...I agree with you & me

[3cents]

Originally Posted by Parsec

I know Lexington isn't on this list, so maybe 3cents can chime in with those results too.

The Lexington stats are in another post in the same thread.

If my criteria are $900K, walkable, and easy commute into Cambridge/Boston, I would recommend only 3 towns: Lexington, Winchester, Belmont.

[Parsec]

Originally Posted by 3cents

The Lexington stats are in another post in the same thread.

If my criteria are $900K, walkable, and easy commute into Cambridge/Boston, I would recommend only 3 towns: Lexington, Winchester, Belmont.

Thanks. Here is the updated list which should round out all towns the OP is considering in the Lexington area:

Bedford: $600K
Belmont: $1 million
Lexington: $1 million
Concord: $1 million

Belmont elementary
**Winn Brook : 10
**Mary Lee Burbank : 19
**Roger Wellington : 82
Daniel Butler : 182

Lexington elementary
**Bridge : 8
**Harrington : 15
**Maria Hastings : 18
**Bowman : 29
**Fiske : 52
**Joseph Estabrook : 55

Concord elementary
**Alcott : 16
**Thoreau : 30
**Willward : 37

Bedford elementary
*Lt Job Lane : 137

[semiurbanite]

The best way to compare prices across towns is using PPSF (price per square foot) and Arlington is actually more expensive than Lexington based on sales in the last 3 months ($363 vs $358/sqft). So if you are saying the housing stock in Arlington is older, and people are still paying more per square foot, that's saying quite a bit about Arlington.

Personally I think many people would choose Arlington because it's more walkable and closer to the action.

[Ninotchka P]

Median Sold for SFH in the last 3 months in Arlington: $691,000 ($364 $/sqft, average sq ft 1912)
Median Sold for SFH in the last 3 months in Lexington: $973,000 ($359 $sqft, average sq ft 2756)

As sq ft goes up, price/sqft softens.

I agree that it does say a lot about what people are willing to spend to get into Arlington, though.