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Old 02-25-2017, 11:37 AM
 
Location: East Coast
4,235 posts, read 3,675,929 times
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Quote:
Originally Posted by massnative71 View Post
You are rehashing broad generalities, while showing very little familiarity of the rental markets in these two particular towns. OP is looking to eventually rent one of two particular units to young professionals. He will have no problem at either location. As for where the best investment is, it's hard to say without knowing the 2 properties. But a 2 bedroom in a town known for its schools (Shrewsbury) vs a 1 bedroom in a town with iffy schools and its share of urban problems (Framingham), I would go with the prior.
You are correct -- I don't have much familiarity specifically with the apartment rental markets of the two towns. If there is a huge rental market for condos in Shrewsbury, then sure, a nice condo is a good bet. I'm just surprised that there is that big and hot of a rental market there, because that has not been the case in other comparable towns I've known. But if the condo rental market is hot and has been for a while and shows all signs of remaining strong, then I guess it's a good investment. Again, I'm just surprised to hear that is the case.
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Old 02-26-2017, 08:13 PM
 
Location: Massachusetts
6,301 posts, read 9,585,524 times
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OP, how extensive is your circle of friends and extended community around Worcester? If you have tight knit social connection, my pick would be Shrewbury over Framingham.
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Old 02-27-2017, 08:15 AM
 
3,808 posts, read 3,102,154 times
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Quote:
Originally Posted by chicagoliz View Post
You are correct -- I don't have much familiarity specifically with the apartment rental markets of the two towns. If there is a huge rental market for condos in Shrewsbury, then sure, a nice condo is a good bet. I'm just surprised that there is that big and hot of a rental market there, because that has not been the case in other comparable towns I've known. But if the condo rental market is hot and has been for a while and shows all signs of remaining strong, then I guess it's a good investment. Again, I'm just surprised to hear that is the case.
What are your "comparable towns"? At the risk of sounding a bit sharp, I find your posts to have a strong Boston bias and your knowledge of towns west 495 to be limited. You seem to address central MA towns a fair amount of dismissiveness.

Massnative's assessment is largely correct. Shrewsbury's school system has excelled since the '80's, and given the influx of highly educated upper middle class residents, I suspect the school system remain strong for the foreseeable future. The town's market remains quiet strong as it provides an excellent compromise of quality schools, job access, and low COL (low tax burden, town managed utilities, etc.). Framingham's location is certainly preferable for Boston access, but beyond that I see only disadvantages.

In a stagnant or down market, I would much rather the 2 bed in Shrewsbury as reputation and school system limits the exposure.
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Old 02-27-2017, 08:49 AM
 
Location: East Coast
4,235 posts, read 3,675,929 times
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Quote:
Originally Posted by Shrewsburried View Post
What are your "comparable towns"? At the risk of sounding a bit sharp, I find your posts to have a strong Boston bias and your knowledge of towns west 495 to be limited. You seem to address central MA towns a fair amount of dismissiveness.

Massnative's assessment is largely correct. Shrewsbury's school system has excelled since the '80's, and given the influx of highly educated upper middle class residents, I suspect the school system remain strong for the foreseeable future. The town's market remains quiet strong as it provides an excellent compromise of quality schools, job access, and low COL (low tax burden, town managed utilities, etc.). Framingham's location is certainly preferable for Boston access, but beyond that I see only disadvantages.

In a stagnant or down market, I would much rather the 2 bed in Shrewsbury as reputation and school system limits the exposure.
I rarely discuss Central MA towns because I don't know a whole lot about them. I've sometimes suggested them as options, but I can't think of even one instance where I dismissed them or derided them in any way. If you could link me to one where I did so, I'd be very appreciative, because I have never had any intention of insulting them. If someone is looking to move to a Central MA town and commute daily to Boston, I don't think they're the best option. But certainly for someone who has no need or desire to go to Boston, they are a terrific option.

I did not address Shrewsbury's school system in any way. My understanding was that OP had no need for the school system, so I didn't talk about it. And I wouldn't talk about Shrewsbury's school system anyway, because I have no knowledge of it.

I've lived in and have knowledge of towns that are a comparable distance from the city in the metro areas of Chicago, Philadelphia and Washington. Typically, rental markets are strongest closest to the large cities. If there are towns that buck this trend, for whatever reason, then yes, they'd be a great investment.

You yourself note that Framingham's location is preferable for Boston access. That is the primary reason why I would prefer it. I still maintain that there are more people who require or desire Boston access than there are people who require Shrewsbury access. If you have stats that disprove this, I'm happy to view them and will revise my opinion accordingly.
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Old 02-27-2017, 09:54 AM
 
3,808 posts, read 3,102,154 times
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I apologize. I suspect I might be conflating your posts with a another frequent user on this forum.

Regarding school systems, even if one doesn't utilize the school system, it is still something to consider as it adds some price stability to your asset (property). Additionally, the largest population segment is the 20-29 cohort which will, at some point, be seeking affordable housing with quality school systems. It's already happening at a rapid pace among my 30-34 year old peers, and I see no reason why the trend won't transfer to the 20-somethings below us.
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Old 02-27-2017, 10:44 AM
 
Location: East Coast
4,235 posts, read 3,675,929 times
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Quote:
Originally Posted by Shrewsburried View Post

Regarding school systems, even if one doesn't utilize the school system, it is still something to consider as it adds some price stability to your asset (property). Additionally, the largest population segment is the 20-29 cohort which will, at some point, be seeking affordable housing with quality school systems. It's already happening at a rapid pace among my 30-34 year old peers, and I see no reason why the trend won't transfer to the 20-somethings below us.
That is true, but it's a greater issue to those buying, rather than renting (although I realize there are plenty of renters for whom this is an issue, and that the rental market is tied to the purchase market.) The greater demand for housing is going to be for dwellings larger than a 1 or 2 BR condo when those with children are looking for housing.
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Old 02-27-2017, 09:27 PM
 
23,087 posts, read 18,228,806 times
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Quote:
Originally Posted by chicagoliz View Post

I've lived in and have knowledge of towns that are a comparable distance from the city in the metro areas of Chicago, Philadelphia and Washington. Typically, rental markets are strongest closest to the large cities. If there are towns that buck this trend, for whatever reason, then yes, they'd be a great investment.

You yourself note that Framingham's location is preferable for Boston access. That is the primary reason why I would prefer it. I still maintain that there are more people who require or desire Boston access than there are people who require Shrewsbury access. If you have stats that disprove this, I'm happy to view them and will revise my opinion accordingly.
But Framingham isn't Boston. While it may be closer than Shrewsbury, it will still be a draining commute at rush hour. Shrewsbury on the other hand, is minutes from Worcester. Minutes from Westborough, maybe a few more to Marlborough. Shrewsbury is far more appealing to a newly hired physician at UMASS Medical than Framingham is to a biotech engineer working in Cambridge.

I'm not familiar with the other cities you mentioned (DC maybe a wee bit), so I cannot draw comparisons with towns in their metro areas to those in the Boston area. As you may have discovered; the Boston area has become very decentralized with growing clusters of jobs in Worcester, Lowell, NH and up and down the 495 corridor (some on this forum would have you believe Boston is the be-all, end-all). I guess maybe think of a desirable town near Sterling, VA as the equivalent of Shrewsbury, to a ghettoish town in P.G. County. While the latter might be closer to the core city (DC), the prior would still be a surer investment.
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Old 02-28-2017, 07:26 AM
 
Location: RI, MA, VT, WI, IL, CA, IN (that one sucked), KY
41,938 posts, read 36,724,941 times
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Quote:
Originally Posted by massnative71 View Post
I'm not familiar with the other cities you mentioned (DC maybe a wee bit), so I cannot draw comparisons with towns in their metro areas to those in the Boston area. As you may have discovered; the Boston area has become very decentralized with growing clusters of jobs in Worcester, Lowell, NH and up and down the 495 corridor (some on this forum would have you believe Boston is the be-all, end-all). I guess maybe think of a desirable town near Sterling, VA as the equivalent of Shrewsbury, to a ghettoish town in P.G. County. While the latter might be closer to the core city (DC), the prior would still be a surer investment.
Wishful thinking. There are trips and dollops here and there, but it amounts to a puddle.
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Old 02-28-2017, 10:56 AM
 
23,087 posts, read 18,228,806 times
Reputation: 10646
Quote:
Originally Posted by timberline742 View Post
Wishful thinking. There are trips and dollops here and there, but it amounts to a puddle.
But it's not...


http://www.495partnership.org/assets...%20numbers.pdf

https://www.bostonglobe.com/metro/re...OZJ/story.html

https://www.bostonglobe.com/lifestyl...caJ/story.html

In fact, while many people in the MetroWest area still head into Boston for work, plenty more actually commute the other way. “The trend flipped about six or seven years ago; we noticed that the region became a net importer of labor,” Matthews said. “We’ve been talking to the MBTA about adjusting commuter rail schedules to better serve reverse commuters.”
Matthews points to biotech giant Genzyme Corp. “While the common perception is that they’re a Cambridge company, and that’s where they’re headquartered, their biggest employment center worldwide is in the 495 area,” he said.
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Old 02-28-2017, 11:01 AM
 
Location: RI, MA, VT, WI, IL, CA, IN (that one sucked), KY
41,938 posts, read 36,724,941 times
Reputation: 40634
Yeah, it is, just a trickle. Of course the powers that be are going to try to say its not. Duh.

And yes, plenty of people commute out to there, that is nothing new. 15 years ago I was living with people in Somerville that commuted to Framhingam, that's been going on forever, its just not a big increase that indicates a trend. There has always been stuff out there, it just remains stable. And then people want to live in an area with a high quality of life so they still live closer to Boston. I live in Somerville (for a bit longer), and commute (mostly) to Westborough. It doesn't mean there is an increase out there, its just something some of us need to deal with. Generally it is for soul sucking jobs like with BJs, or Staples, or whatever in some gross huge building along 9 or 495 or whatever a person needs to do to live.

But, hey, you can believe Worcester (etc) is the next big thing too. I've been hearing that since the early 90s. Ever known someone happy to live in Framhingham? I sure the heck haven't met them.
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