Relocating to Brookline / Cambridge from Chicago (Boston, Newton: house, neighborhoods, buying)

[sawyer2]

As someone who lived in S End and Back Bay with kids (duplex in both cases and not SF) and who is now in Belmont, I will say that mjw119's responses are very accurate.

Let me know if you have specific questions that have not already been answered.

(We also have a rental in Coolidge corner area of Brookline and are very familiar with that area.)

[fabfan84]

Originally Posted by mwj119

No, though it did read that way. My statement was in response to OP, who is a client of someone who said their other clients live in Brookline, Cambridge, and Newton, but that Belmont never came up. Their interpretation, then, was that maybe Belmont was not quite as desirable.

Belmont is quite a bit smaller than each of Newton, Brookline, Cambridge, so that may be a reason why people generally knew fewer people who live there, not because it's less desirable.

[yoss22]

MikePRU - I watched the videos on Prop 2.5 that you linked - very informative and clear (the complete opposite of anything on the IL / Chicago govt sites). I now need to research which towns I'm looking at that have a significant difference between their current levy and the levy limit (ie they can raise RE taxes without voter approval because they are currently under taxing). I also need to do some research on the owner occupied reductions in tax - I was just going by the taxes listed on redfin / zillow.

Brookline / Chestnut Hill looking like my focus right now. If we rent for a year and South End cools off that could be an option also but I really want to stick with a $3mm budget. The yard isn't as important if we are close to a park.

[yoss22]

sawyer2 - Thank you for the offer - I'll take you up on it right now! What was the deciding factor in moving to Belmont vs staying in SE or buying somewhere else? And a general question for you not about real estate - assuming your kids have various after school activities / sports - how brutal is it carting them around in the 5 - 6 pm range? My son plays hockey and its the focus of his social circle here in Chicago and will probably be similar in Boston.

[BostonBornMassMade]

North Brookline preferably. Follow the C Line.

Chestnut Hill is also an excellent option as are the Chestnut Hill School and Beaver Country Day School!

Look at these homes...
https://www.trulia.com/for_sale/3364...918p_ls/13_zm/

[yellowstatus]

Originally Posted by BostonBornMassMade

North Brookline preferably. Follow the C Line.

Chestnut Hill is also an excellent option as are the Chestnut Hill School and Beaver Country Day School!

Look at these homes...
https://www.trulia.com/for_sale/3364...918p_ls/13_zm/

Wow, I had no idea that Chestnut Hill was so affordable. I've been looking at West Cambridge and a little bit of Lexington. West Cambridge pricing is steep and Lexington doesn't have good public transit options. Chestnut Hill seems like Lexington but with solid public transit.

[BosYuppie]

Originally Posted by yellowstatus

Wow, I had no idea that Chestnut Hill was so affordable. I've been looking at West Cambridge and a little bit of Lexington. West Cambridge pricing is steep and Lexington doesn't have good public transit options. Chestnut Hill seems like Lexington but with solid public transit.

Affordable.. LOL.. this reminds me of the opening scene in American Psycho when they get the $570 restaurant bill and the guy goes "Wow that's reasonable.."

I would only count on the Green Line as your "solid public transit" there - all the Newton bus lines are getting gutted in the "press forward" plan.

It's nice that there's the mall, wegmans, and a couple other places in Chestnut Hill, and it's close to Newton Center and easy to get into Brookline from there too.

[robr2]

Originally Posted by mwj119

Speaking of which, I haven't heard anything about the developments in Watertown. At one point, Arsenal Mall was the big ticket.. Whatever happened there?

Arsenal Mall is now known as Arsenal Yards. Typical mixed use with office and lab space, retail, dining, movie theatre, and apartments. Up and down Arsenal Street, there are new apartments going up as well.

My son's employer moved into the lab space about 4 weeks before the virus hit. He was going into the lab late in the evening and running his experiments overnight. He'd come home before daylight and would work on his documentation from home and go to bed at noon. He's know on a more normal day schedule but any non lab support people are still WFH.

[robr2]

Originally Posted by yoss22

MikePRU - I watched the videos on Prop 2.5 that you linked - very informative and clear (the complete opposite of anything on the IL / Chicago govt sites). I now need to research which towns I'm looking at that have a significant difference between their current levy and the levy limit (ie they can raise RE taxes without voter approval because they are currently under taxing). I also need to do some research on the owner occupied reductions in tax - I was just going by the taxes listed on redfin / zillow.

Brookline / Chestnut Hill looking like my focus right now. If we rent for a year and South End cools off that could be an option also but I really want to stick with a $3mm budget. The yard isn't as important if we are close to a park.

Of note with Prop 2.5, I don't think you are going to find much info between current levy and levy limit. The important thing to keep in mind is that the town cannot generate more than a 2.5% increase in tax revenue year over year. That does not include new construction or improvements. The tax rate often isn't set until the 2nd quarter of the fiscal year.

In my town,

FY2019 rate $10.48 assessment $570, 500 total tax $5878
FY2020 rate $9.64 assessment $$636,800 total tax $6139
FY2021 not yet determined although I've already paid more than half of last year.

Note, my rate went down by 8%, the assessment went up by 12%, taxes went up by 4.4%.

[mwj119]

Affordability is all relative, that's for sure...

But, Chestnut Hill is not quite as expensive as it's south and southwestern Brookline and West Cambridge counterparts. Quick spot check, looks like the Brookline Reservoir area, along with Fisher Hill is more than Chestnut Hill. That should be no surprise, I guess. Fisher and the sprawling mansions around the reservoir are where the Krafts, Tom Brady, the Reebok CEO, etc. live. I mean, aside from Weston, that's the central area for the >$15M houses.

You can get a new build in Chestnut Hill for <$3M. That ain't really happening in sister parts of Brookline or West Cambridge.

In West Cambridge, for SFH, you really only have:
Old stucco home on a 4500 sqft lot for $3M
Old 5 bedroom for $14M
New 4000 sqft new build for $5M
Old and otherwise bare bones meh house on a 3600 sqft lot of $2M.