House on Nantucket (foreclosure, rental homes, how much) - Massachusetts (MA) - City-Data Forum

Arleigh-20 · 09-10-2007, 08:51 PM

Hi, I am thinking of moving from Fairbanks to Nantucket.
I understand homes are reasonable priced and lots to do in the Summer.
I havetwo diesel 1 ton suvs, are the ferries cheap. Thanks

pondhopper · 09-12-2007, 05:40 AM

Homes on Nantucket reasonably priced? I have NEVER heard the words "Nantucket" and "reasonably priced" used together before!!!!!!!!!!!!!!!!!!!! For anything! Especially houses!!!!!

CaseyB · 09-12-2007, 06:57 AM

Quote:

Originally Posted by pondhopper

Homes on Nantucket reasonably priced? I have NEVER heard the words "Nantucket" and "reasonably priced" used together before!!!!!!!!!!!!!!!!!!!! For anything! Especially houses!!!!!

Nantucket has the highest median property value of anywhere in Massachusetts.

RichCapeCod · 09-12-2007, 08:31 PM

I'm sure, if you look hard, you'll find a fixer-upper in the $700,000 range. And I'm not kidding.

Rich

Arleigh-20 · 09-12-2007, 09:50 PM

How much work would a fixer require on a average.
700K is fine if a person only needs to add another 500K-600K.
What is the availibility of lumber, plumbing, electrical supplies?
I would need to build a 50x50 garage for my SUV's.

How are the winters on Nantucket? I have heard they are mild.
Thanks for the information, it is always good to here from the people who live in the area.
A

pondhopper · 09-13-2007, 07:08 AM

If you are fine with spending $1,200,000-$1,300,000 then you could do okay on Nantucket buying somewhere non-beachside. Building anything like a garage of any size is VERY difficult though! The entire Island is an historical district so you need lots of approvals on size, design, colors, etc!

Winters are mild but breezy and wet. Lumber et al can be had but as it is an island everything is a premium including staples like gasoline, bread, milk, etc. Good Luck. Nantuck is lovely, but VERY expensive in every way!

Arleigh-20 · 09-13-2007, 08:11 AM

I guess I could leave the trucks ouside.

Lord Snooty · 07-15-2009, 09:50 PM

I have owned a house and lived full time on Nantucket for 10 years. One thing this place is not, is cheap. Gas is the highest in the state. The stop and shop supermarket is the most profitable store in the entire chain because everything in it is at least 25% higher than the mainland as is lumber and all other building supplies. Building costs here average $275-$300 a square foot
You are looking at $200 return for your SUV to Hyannis on the ferry and that is the cheaper 'resident rate' that goes up to $250 in the summer. There is no way you will get permission to build a 50x50 garage on the island when you need full planning permission to erect a small 10x8 tool shed. There are only twelve colors to choose from that you are allowed to paint your own front door. That said, the place is beautiful and the people (when you finally get to know them) are very decent. It is hard to get accepted here because the locals don't want to make the effort to be friends only to find you are leaving after a year as many people do. Island life needs a certain mindset and it's not for everyone.There are lots of substance abuse problems here due to the isolation in winter.
Good luck finding a fixer upper for 700,000 by the way. They are snapped before they reach the market up by local contractors and realtors to renovate and sell. Expect to pay 1-1.2 mil for an average 3 bed house mid island on a third of an acre. You might have luck with a foreclosure for less but they are usually in the low rental/seasonal workers area which is ok if you like listening to reggae at 3am. ...!
The whole thing is like living in Disneyland.. Which is fine if you like that but I have had enough and am selling my (thankfully overpriced) house and moving somewhere a bit more realistic..

redrn1959 · 07-27-2012, 04:04 PM

I am also considering moving to Nantucket. I would love to hear about the availability of rental homes for a family of five, day to day expenses such as utilities, etc. Any insight would be appreciated!

Cape Cod Todd · 07-30-2012, 01:36 PM

Good advice posted above.
It used to be said that Nantucket was for Billionaires and Marthas Vineyard for Millionaires but that has changed a bit in the economic downturn. There are houses on both islands in the $400,000 range and some on MV under $300,000 but they would be fixer uppers. I have lived 2 years on MV and spent some time on Nantucket. Both are beautiful but the ferry situation is what finally did me in. We spent a week on Nantucket a few years back and it cost $400 to bring our SUV over and that was in the off season on a 4 hour ferry trip. I thought the island was a bit sparse. Very quaint downtown complete with a cobblestoned main street but besides a bit of shopping, eating and drinking there wasn't anything to do. We stayed on the other side of the island and it sure was a ghost town. Nice for a retreat but not 24/7/365. Other times I have been there on overnight fishing trips. A really nice historical harbor.
Marthas Vineyard is a bit looser when it comes to building permits etc and you can find a property relatively cheaper but ti is still costly compared to most of MASS. The Ferry is about a 35 minute trip dock to dock and not near as expensive as Nantucket. Many folks keep a car on island and at a parking area on the mainland to avoid having to get a reservation but of course this limits you to what you can carry back and forth via a free bus.
Everything is a bit more expensive on both, from gas to grocery and you are at the mercy and timtable of the steamship authority. We ended up moving onto Cape Cod which in many ways has the "feel" of the island but it sure is nice to hop in the car and drive off Cape and up to the world as we call it AND not have to worry about catching that last ferry home.