Looking for a suitable suburb (Boston, Cambridge: house, neighborhoods, buy)

[AtkinsonDan]

Originally Posted by Ninotchka P

Seriously? OP has a $1M - $1.5M budget, is coming from SF, and you're recommending Burlington? Don't confuse your needs with theirs.

By the way, a quick search of properties for sale in that price point shows:
- 0 houses in Burlington
- 11 in Bedford
- 13 in Carlisle
- 14 in Concord
- 27 in Lexington

To expand on your thought, I don't think the OP would find a half acre or larger lot with new construction in that Woburn-Burlington-Billerica corridor. Most of the properties that would satisfy the OP are going to be in the towns to the west of route 3 where the zoning is more stringent like Concord, Carlisle, Lexington, Lincoln and Bedford or east of route 93 like Boxford, Rowley, Andover and Lynnfield; which with the exception of Andover would pose commuting challenges for the OP.

Quite frankly, if I had $1.5M to spend on real estate I would not be looking at mid to lower end towns either.

[moving_east]

Thanks for the suggestions.
The hard part for us is getting a big kitchen, large dinning room and walk-in bedroom closets, without buy more house than we need (or want to pay taxes on).

[MikePRU]

Originally Posted by moving_east

Thanks for the suggestions.
The hard part for us is getting a big kitchen, large dinning room and walk-in bedroom closets, without buy more house than we need (or want to pay taxes on).

I was working with a client similar to you a few years ago. He wanted a house with high end finishes and a large kitchen but because he was a single guy he really only needed 2500 square feet or so. He ended up building a near 5000 square foot house in a new subdivision in Lexington.

Real estate is all about compromise and while often that means foregoing something because of budget constraints it can also mean paying for features you don't want in order to get other features. I had a client last year who wanted a house on a large lot almost an acre. They were looking in Lexington and they also wanted new construction. Builders just don't build small houses on a large lot so they had to buy a bigger house than what they really wanted in order to get the lot size they did want.

[495neighbor]

Originally Posted by moving_east

Thanks for the suggestions.
The hard part for us is getting a big kitchen, large dinning room and walk-in bedroom closets, without buy more house than we need (or want to pay taxes on).

Carlisle will have more of the style of home you are looking for warm and customized.

Check this out.
1075 Curve St. Carlisle, MA 01741 MLSID: 71693101 | Hammond Residential Real Estate, LLC

[AtkinsonDan]

Originally Posted by MikePRU

I was working with a client similar to you a few years ago. He wanted a house with high end finishes and a large kitchen but because he was a single guy he really only needed 2500 square feet or so. He ended up building a near 5000 square foot house in a new subdivision in Lexington.

Real estate is all about compromise and while often that means foregoing something because of budget constraints it can also mean paying for features you don't want in order to get other features. I had a client last year who wanted a house on a large lot almost an acre. They were looking in Lexington and they also wanted new construction. Builders just don't build small houses on a large lot so they had to buy a bigger house than what they really wanted in order to get the lot size they did want.

Mike, you are spot on in regard to the compromises that must be made in searching for real estate. I went through the same decision making process as those clients you mentioned. I wanted the large lot and in order to get the large lot I had to buy more house than I need. I justified it by realizing that the land cannot be changed after the fact but the house can be changed after the fact if/when the budget allows it. I believe that a buyer cannot compromise on location, neighborhood features and lot size but the rest can be modified as time, money and willpower allows.

[495neighbor]

Originally Posted by MikePRU

I was working with a client similar to you a few years ago. He wanted a house with high end finishes and a large kitchen but because he was a single guy he really only needed 2500 square feet or so. He ended up building a near 5000 square foot house in a new subdivision in Lexington.

Real estate is all about compromise and while often that means foregoing something because of budget constraints it can also mean paying for features you don't want in order to get other features. I had a client last year who wanted a house on a large lot almost an acre. They were looking in Lexington and they also wanted new construction. Builders just don't build small houses on a large lot so they had to buy a bigger house than what they really wanted in order to get the lot size they did want.

Whatever happened to people buying some land and having an architect design the home they want, not just a choice of X, Y and Z plans. At one million to one and half million they should get exactly what they want.

[johngolf]

Originally Posted by 495neighbor

Whatever happened to people buying some land and having an architect design the home they want, not just a choice of X, Y and Z plans. At one million to one and half million they should get exactly what they want.

Where in the towns mentioned?

[MikePRU]

Originally Posted by 495neighbor

Whatever happened to people buying some land and having an architect design the home they want, not just a choice of X, Y and Z plans. At one million to one and half million they should get exactly what they want.

Even people with larger budgets compromise. Going out and buying some land is not exactly like running out to the grocery store and buying some milk. In a lot of towns it's very difficult to find land to build on in part because many owners of teardowns go directly to spec builders instead of listing with real estate agents. So, if you're planning on building for yourself expect a long wait for a lot of land in some towns. I just heard about a family that was looking for two years for a piece of land.

This being said, many people do still build new homes for themselves. Many choose not to go down this path though because it's a financial burden to have to pay to build a home and pay for temporary housing at the same time. Building your own house is also a full time job in itself that not everyone has the time for. It's far easier to just choose a new house that someone else is building on spec. Plus in this area, we don't exactly have large subdivisions with plan X, Y, Z. Each house is different.

[495neighbor]

Originally Posted by MikePRU

This being said, many people do still build new homes for themselves. Many choose not to go down this path though because it's a financial burden to have to pay to build a home and pay for temporary housing at the same time.

They'd have to pay for temporary housing to watch the spec home being built.

I was simply pointing out that if people have enough money they have other choices.

[MikePRU]

Originally Posted by 495neighbor

They'd have to pay for temporary housing to watch the spec home being built.

Why would you have to pay for temporary housing if you're buying a spec home? You can just live in your own house and pay the bills you've always paid. If you contract to buy a spec house the only money you have to lay out is the 5% deposit and typically the cost of any change orders/upgrades and of course that money goes toward the purchase price of the house.

Alternatively, if you're building your own house you need to buy the land and pay the mortgage on that. Also, you'll need to either make incremental payments to the builder or pay the payments on a construction loan. Plus, you'll still have to pay to either live in your current house or in a rental property if you've already sold your house. So, this situation is a lot like paying two mortgages and if you're living in a rental you'll never get that money back.

Originally Posted by 495neighbor

I was simply pointing out that if people have enough money they have other choices.

Having a lot of money can certainly solve some problems but not all.