Moving to Danvers, single-family home under 500K, area recommendations? (Boston: for sale, rental)

[buffalo2012]

Hi, I will be moving to Danvers soon for a job opportunity with a toddler. I was looking for a single family home under 500K and found some new builds in Billerica (not sure about the area, and a long commute). Also found a few houses in Peabody and Woburn (3 bed, 2000 sq ft <20yrs old).

Recently I did visit the burlington area with the new wegmans and close by mall, I liked that area and the nearby Bedford / Lexington area. But I found mostly townhomes/condos in these areas and not many homes. I am ok for a townhome/condo, if I really cant find a single family in my range+area.

Is it that there are not many houses on the market in this price range, or is the price range too low for these areas, or am I just looking in the wrong areas.

Can anyone suggest any safe family friendly areas, we are planning to stay here 5-10yrs. School district is not that important to us as we are looking into montessori schools (so we can live in a lesser school district for a home thats budget friendly).

Thanks

[495neighbor]

I am assuming by your post you are a single parent with a small child that will be in daycare. To keep your life simple with the shortest commute possible, I would focus your search on the more noth-bound suburban towns closer to Danvers such as Beverly, Lynnfield, Reading, Marblehead and Danvers itself.

[gf2020]

You won't find much new construction in the north of Boston region for under $500K. Living in Danvers itself would be a good choice for you. If you want a little more rural community, you might look at Georgetown or Ipswich.

[buffalo2012]

Thanks, 495neighbor and gf2020 for the recommendations. I will look into Beverly, Lynnfield, Reading and Marblehead. I am looking for more of a modern town and not so rural. Thats why I liked the new feel of the wegmans, the mall and that area in Burlington. I have only visited Burlington, Bedford, Lexington and Danvers yet.

I will go out and visit the towns of Beverly, Lynnfield, Reading and Marbleheadand take a walk-through, will also take a look at houses in the area online.

I am also looking into the schools, the few montessoris in Beverly and the waldorf one there too. So would be nice to stay closer to the school and work.

[Shizim]

if you truly dont care about schools and just want bang for buck while being safe, look at Saugus (west of Rt 1 and north of the mall tends to have the newer construction). low tax rate, easy commute to Danvers, and not a bad trip into Boston for infrequent visits.

[elhelmete]

Originally Posted by Shizim

if you truly dont care about schools and just want bang for buck while being safe, look at Saugus (west of Rt 1 and north of the mall tends to have the newer construction). low tax rate, easy commute to Danvers, and not a bad trip into Boston for infrequent visits.

Mr Shizim makes a good suggestion about a town few talk about!

[Shrewsburried]

Originally Posted by Shizim

if you truly dont care about schools and just want bang for buck while being safe, look at Saugus (west of Rt 1 and north of the mall tends to have the newer construction). low tax rate, easy commute to Danvers, and not a bad trip into Boston for infrequent visits.

I think Beverly has better bang-for-the-buck, i.e., potential for long term asset growth with a relatively low buy in (for the area).

[BostonMike7]

Originally Posted by buffalo2012

I will look into Beverly, Lynnfield, Reading and Marblehead. I am looking for more of a modern town and not so rural..

Looks like you and I are probably going to the same open houses.


The inventory for what you (and I) have been looking for has sort of slowed down a bit. Beginning of the summer there was a lot to pick and choose from but for the most part those houses have been scooped up leaving the ones that are overpriced or need a lot of updating. I know that the MLS listings I get from the realtor have slowed up considerably since labor day vs the July/Aug timeframe.

Just my observations. (my search also includes only homes with garages)

Lynnfield. Anything under $500K will be small or in need of a lot of updating. Reading is about the same. Both those towns don't have much on the market under $500K
.
Peabody seems to have the most inventory. I've concentrated my search mostly in the West Peabody area. Homes pop up more often under $500K, but for the most part they haven't been updated much. That's to be expected since a lot of houses are still occupied by the original owners who bought them in the 50's and 60's. Wallpaper everywhere.

Beverly seems to have good bang for the buck. Have seen quite a bit of updated homes for sale here. I've put this down low on my list of preferred towns to buy in strictly based on my commute. (I work in Bedford/Billerica). It's a pretty good buy in and has potential for growth.

I wanted to explore Burlington/Bedford a bit but my G/F won't commute that far. Wilmington was a another decent option. I saw quite a few homes under $500 meting our criteria there. It's just a longer commute for my G/F (who works in Beverly). I don't mind that area, and Wilmington has a few really nice parts. In fact, most of the new builds I've seen have been SFH's in the Bedford/Burlington/Wilmington area.

Good luck in your search. I'm giving myself another month or so and then going to look for a short term rental for the winter.

[495neighbor]

Originally Posted by buffalo2012

Thanks, 495neighbor and gf2020 for the recommendations. I will look into Beverly, Lynnfield, Reading and Marblehead. I am looking for more of a modern town and not so rural. Thats why I liked the new feel of the wegmans, the mall and that area in Burlington. I have only visited Burlington, Bedford, Lexington and Danvers yet.

I will go out and visit the towns of Beverly, Lynnfield, Reading and Marbleheadand take a walk-through, will also take a look at houses in the area online.

I am also looking into the schools, the few montessoris in Beverly and the waldorf one there too. So would be nice to stay closer to the school and work.

If Danvers is too antique and low density for you, I don't think you will like Lynnfield, Reading, Marblehead or Wilmington any better.

I would concentrate your search on Beverly and also add Salem to the mix, especially since your child will be attending private schools. These are better towns with more going on for children and single parents. Salem has many beautiful homes and updated townhomes and condominiums in your range. And better yet the best commutes to Danvers of the towns mentioned.

[buffalo2012]

Thanks everyone for the suggestions.

It seems like if I increase my budget to 550K-650K there are more choices, not sure if I can afford it. I will be able to put 20% down. My salary will be $150K before taxes, I have been trying to find out what the state taxes are and if I can find a reliable online calculator which can estimate what my monthly paycheck will be. And yes, mine will be a single salary.

I havent put Salem on my list, I will take a look at that. Saw some negative comments here, but will go see the place for myself and check online listings.

@BostonMike7, I did see lots of new builds in Billerica below 500K on zillow. Yes, you are right about Peabody, lots of inventory but most of houses are dated. Was thinking of buying...then doing a serious renovation..lets see, still early in my search.

I did like the areas of Beverly or Saugus, will do some more online searching, before I head out for a visit. I still need to look into townhomes, condos in these areas, will try to do that today.