Everett vs. Waltham for a 3 Bedroom House (Boston, Lowell: real estate, leasing)

[Japanfan1986]

I just went over some financial projections and it looks like I am on track to put as much as 20 percent down on a 400K house by January 2020. I know finding a house in either town for 400K is really pushing it and near impossible but I do see things pop up now and then.

As for me I work in Waltham, but am not married to my job. It’s a safe job where I make $85,000+ in a good year and a hair below $70,000 in a bad year. I’d eventually like to establish my own business and work from home/on my own hours, but am still a while off from that.

I’ve been researching for years now on this, but am still quite open and flexible to what town I settle in. I’m originally from Medford, which is well out of my price range, but Everett is more doable (if perhaps still not quite possible). Although it won’t be for long if the prices keep increasing there.

Other than Everett and Waltham, the other town I am considering is Framingham. I’ve even thought about Lowell since the area is improving and prices are reflecting that. But it’s so far away from everything else (family, work).

Right now I think my top choice would be Everett, but more realistically in terms of price I’m thinking Framingham. I’m open to suggestions, but am hoping to narrow my options.

[timberline742]

I'm curious, why would you be inquiring about the cost of commercial real estate to lease in Providence if you are looking to buy in Everett?

[Japanfan1986]

Originally Posted by timberline742

I'm curious, why would you be inquiring about the cost of commercial real estate to lease in Providence if you are looking to buy in Everett?

Haha, that was inquiring to lease in Rhode Island overall rather than Providence. I was just curious about the ballpark leasing prices in Rhode Island, which in general is cheaper than MA. As I mentioned in that thread and the first post of this one, being my own boss is a long away if ever. Leasing retail is even further away. But it never hurts to have some knowledge on the topic.

Anyway, just looking through the Everett prices and yeah it does look pretty impossible. I might have to just focus on the Lowell area, which really isn’t ideal given the areas I’d like to be close to. Maybe I could get lucky with an underpriced listing in Framingham or prices will fall. But I certainly can’t bank on that.

[BostonMike7]

I usually watch north shore real estate passively just as a measure of monitoring trends for my own knowledge. Home do pop up for under or around $400K, but what sort of condition do you expect this house to be in? Something move-in ready that doesn't need anything? Probably not. But if you are looking for a fixer-upper type home, they do still pop up from time to time. I guess it all depends on your expectations.

Why Everett though? What draws you to that city?

[tysmith95]

Everett to Waltham isn't any easier than Lowell to Waltham.

[Japanfan1986]

Originally Posted by BostonMike7

I usually watch north shore real estate passively just as a measure of monitoring trends for my own knowledge. Home do pop up for under or around $400K, but what sort of condition do you expect this house to be in? Something move-in ready that doesn't need anything? Probably not. But if you are looking for a fixer-upper type home, they do still pop up from time to time. I guess it all depends on your expectations.

Why Everett though? What draws you to that city?

From everything I’ve read Everett is the last city in the area that has the combination of being semi-affordable and fairly safe. There are some that fit one or the other, but around that location Everett is the only one left that fits both. Revere comes close, but I believe has a higher crime rate and less 3 bedroom houses that go up (not that Everett has many anyway). Plus, as I said I’m from Medford so I’m familiar with the town.

Anyway, property value shot up 14 percent there last year so it’s not going to be affordable for much longer.

[Japanfan1986]

Originally Posted by tysmith95

Everett to Waltham isn't any easier than Lowell to Waltham.

Yeah, but I have family and friends I visit around Everett all the time. In a way I’d rather be there than around the Waltham area since it would be much easier to work for a different site with the same company then it is to move everyone I know to where I live. With Lowell though I don’t really know anyone in the area. On the plus side there is a site my company has based near there (in Andover), but like I said I’d value being closer to friends and family than a job I don’t plan on doing forever. Plus, I am much more familiar with Everett and Waltham.

[BostonBornMassMade]

6 homes to your liking in Everett.

[sal1181]

I would look in Billerica or Tewksbury in that price range.

[SalamanderSmile]

Waltham is MUCH nicer than Everett but if your friends are in Everett and your life revolves around that rt1 zone, I would say Everett. I lived in on the Malden/Everett border and my SIL lived in Everett. We moved to Waltham and breathed a sigh of relief to be out of that congested/stressfull rt1 north/south zone. Waltham borders the bucolic towns of the Metro West, so it is much easier to get into nature and away from “cityness” in Waltham. Waltham itself has tons of parkspace and paths along the river. I suppose Everett’s proximity to the ocean may outweigh that.