Where to live near Lexington? (Boston, Waltham: rentals, car insurance, condo)

[markmark09]

Hi,

I'm married with 2 kids, 5 and 3. Looks like I may be working in Lexington next year per job relocation. Lexington itself, in all likelihood, is out of my price range though. In any case, I'm looking for an area with:

-great public schools
-walkable downtown
-parks, playgrounds, lakes, etc. nearby (we like being outside)
-trails or great areas to run, away from automobile traffic (I love trail running)
-housing...cheaper than Lexington (is 1700/mo for 3BR possible up there? duplex, rowhome?)
-public transportation to get to Boston

I'm willing to commute up to 40 mins to get to Lex.

Any recommendations? I know next to nothing about MA. I am moving from just outside Philly (Bryn Mawr) and would love to live in the same type of area, if anyone has experience with both areas.

Thanks,

Mark

[kingeorge]

Welcome and get ready for sticker shock. What you looking for in terms of amenities will cost more like $2500-$3000. Do salary comparison to understand COL difference, and how much more you need to make to live at least at what you are so far used to in PA. Lexington is one of the most expensive areas in the region.

$1700 is for one or two bedrooms, un-updated, and probably not deleded. I would try Acton or Maynard with the understanding that your budget will probably be in 2 bed range. Hope you luck out, and find something bigger. Acton is rural but has great family vibe and tons of things to do outside. Maynard has little downtown, attracts younger families priced out of other more desirable areas. Maynard's schools are not as well regarded, where Acton is very high in ratings. You could also probably check Waltham, but it can be gritty in parts, and nicer sections will be pricey.
You could also add Burlington to your search, not walkable, but cheaper place to find rental, possibly.

Good luck.

[ramaka]

You should be able to rent in Burlington, but not sure about the public schools.

[Ninotchka P]

How much are rentals in Bedford (strike that) Acton?

[kingeorge]

Originally Posted by Ninotchka P

How much are rentals in Bedford?

I would think that any place that would take kids under six would be at least $1850 and probably two beds, not three. Bedford and Burlington are not places with oodles of rentals. Waltham has many.

Now that I think, Watertown can also be an option but 3 beds, deleaded, will be tough to find under $2000. Acton and Maynard are also not big on rentals but here and there something shows up. OP will have to have bigger budget, much longer commute, or downsize to be able to find something decent. Family sized rentals are rare, and cost more lately.

Why accept relocation without understanding COL, and trade off you are making in moving to Eastern MA?

[kingeorge]

Originally Posted by Ninotchka P

How much are rentals in Bedford (strike that) Acton?

Might not be much cheaper than the rest. I was thinking that pulling outside of immediate metro area might help with pricing, but rentals are expensive everywhere. OP might not find anything less than $1800-1900 even further out. Maybe also include Littleton, Westford etc. and hope for the best.

[markmark09]

Thanks all. What if I changed the scenario to buying a home at 375-400k rather than renting? Does that change things?

[kingeorge]

Originally Posted by markmark09

Thanks all. What if I changed the scenario to buying a home at 375-400k rather than renting? Does that change things?

Probably smarter, but you will have to have longer commute and settle for smaller, probably less appealing fixer-upper house. That particular price range is slowly dissapearing out of SF market and it is becoming starter condo price in this neck of the woods. Not completely impossible, but very rare to find decent home under $400-450K

Good luck.

[markmark09]

Originally Posted by kingeorge

I would think that any place that would take kids under six would be at least $1850 and probably two beds, not three. Bedford and Burlington are not places with oodles of rentals. Waltham has many.

Now that I think, Watertown can also be an option but 3 beds, deleaded, will be tough to find under $2000. Acton and Maynard are also not big on rentals but here and there something shows up. OP will have to have bigger budget, much longer commute, or downsize to be able to find something decent. Family sized rentals are rare, and cost more lately.

Why accept relocation without understanding COL, and trade off you are making in moving to Eastern MA?

Thanks for all your help here George. Posting here is actually my first step in understanding COL - I've used this site multiple times prior to moving and always received great advice. I did not accept relocation yet - but it's either relocate, or they send me on my way. Sounds like I may have to ask for a raise, or start sending my resume out in PA unfortunately.

I'm curious to know if I might have better luck if I chose to buy (400k tops) rather than rent? I initially said I'd like to rent because I'd like some time to see the area first-hand before hastily buying. But it appears this luxury would cost me upwards of $2500/mo.

[kingeorge]

No problem, Glad to help.

If this is important career move, then suck it up and move. You'll figure something out. If not, then consider other greener pastures.

Definitely ask for COL adjustment if possible. Housing, heating, car insurance, health care, utilities, food are all expensive.

You could try to find really cheap two-bed for a while, start modest, until you figure it out. Buy only if you will be here for a while. If you are gone in two years... Not sure if you will recoup all of your home-buying costs. Fall/winter RE season is slower and less mad. Come spring there seems to be more buyers than sellers so last two-three years we have many bidding wars and RE is crazier than other parts of the country.

I would zoom on Acton or Westford if buying, Acton being my best bet for its school quality, outdoor living opportunities, safety, and train to Boston.

Good luck.