Under $250k any Massachusetts single family house with yard (Worcester: safe neighborhood, purchasing)

[lrfox]

Originally Posted by GeoffD

How about 366 Bedford Street in New Bedford? That’s $250k. West End. All single family homes. 5 or 6 minute walk to Buttonwood Park. It’s not 1,500 sf, I’m sure it needs work, and the lot is too small for a garage but that’s a non-frightening place to live.

"BuT nEw BEdForD's GHETTO!!!!!"

(Kidding, but that's often the response on CD when you suggest anything that happens to fall within certain city's borders)

[Lampert]

Like many others, I don't understand why they set a hard limit to 250k when they are paying 2,600 in rent.

400k + taxes + insurance < 2600/month

[Shrewsburried]

Originally Posted by Lampert

Like many others, I don't understand why they set a hard limit to 250k when they are paying 2,600 in rent.

400k + taxes + insurance < 2600/month

Haven’t stated a DP amount, for one.

I still think, even with a low DP and high utilities, that $300-320k is entirely viable. That gains them access to better towns (e.g., Wachusett district, desirable sections of Leominster, an older townhouse in eastern MA, etc.).

However, buyer competitiveness is an issue as you target the more desirable towns/properties. FHA loan likely won’t cut it. Low DP VA? Maybe.

[BostonBornMassMade]

Springfield/Chicopee/Holyoke

[massnative71]

Originally Posted by Lampert

Like many others, I don't understand why they set a hard limit to 250k when they are paying 2,600 in rent.

400k + taxes + insurance < 2600/month

OP stated their budget, it's not on us to dig into their personal life. There are many possible reasons. The DP + closing costs as already mentioned. MAINTENANCE. You own a home, unlike renting it's not make the monthly payment and be done with it. In addition to taxes and insurance, there is water, sewer, upkeep, sometimes trash removal or snow removal costs. Especially an older home, can be a money pit. I say budgeting an extra $200/mo for that is being conservative. This forum can do a much better job at answering an OP's initial question, without injecting our unsolicited personal opinion into everything.

[Lampert]

Originally Posted by massnative71

OP stated their budget, it's not on us to dig into their personal life. There are many possible reasons. The DP + closing costs as already mentioned. MAINTENANCE. You own a home, unlike renting it's not make the monthly payment and be done with it. In addition to taxes and insurance, there is water, sewer, upkeep, sometimes trash removal or snow removal costs. Especially an older home, can be a money pit. I say budgeting an extra $200/mo for that is being conservative. This forum can do a much better job at answering an OP's initial question, without injecting our unsolicited personal opinion into everything.

200/month still puts you around 2600.
I think is important to understand that, if you want to spend about 60% of the median house value of the state, you are going to end up in either a very undesirable place or a very undesirable home. Or both.

[massnative71]

Originally Posted by Lampert

200/month still puts you around 2600.
I think is important to understand that, if you want to spend about 60% of the median house value of the state, you are going to end up in either a very undesirable place or a very undesirable home. Or both.

OP specifically stated a budget of $250K, and that they work from home which gives them some flexibility. Their personal finances are none of our business. There are places in MA where that will buy you a house as long as you don't need access to big job centers. Some of these places have been noted. Now personally would I choose to buy a house in Mass. coming from somewhere else, over other places with a budget that small if I could live ANYWHERE? Not without knowing OP's reasons for specifically wanting to come to Mass., but those have not been shared and are therefore none of our business either. My point is that our job here is to answer the question as it was asked, giving the good bad and the ugly. It's on them to make use of that info. we provide them, and go from there. We are not here to give financial or other life advice. I think it's insulting to somebody in assuming they haven't worked through these things already, if they truly want to rely on City-Data for that kind of guidance they would at least ask that as a specific question.

[OutdoorLover]

Originally Posted by massnative71

OP stated their budget, it's not on us to dig into their personal life. There are many possible reasons. The DP + closing costs as already mentioned. MAINTENANCE. You own a home, unlike renting it's not make the monthly payment and be done with it. In addition to taxes and insurance, there is water, sewer, upkeep, sometimes trash removal or snow removal costs. Especially an older home, can be a money pit. I say budgeting an extra $200/mo for that is being conservative. This forum can do a much better job at answering an OP's initial question, without injecting our unsolicited personal opinion into everything.

I don't think it hurts to gently point out that they might be able to afford *a little* more. That said, financial decisions are personal ones, and everyone has their own level of risk that they are comfortable with, moreover as you point out, homeowners have real estate taxes, insurance and maintenance costs that renters don't, and that aren't trivial.

Whenever I have bought property, I start with "What payment can I afford?" - basically when everything is going right, and then I go down from their significantly to account for maintenance, repairs, even some cushion for saving for what could be an employment outage. No matter how much someone twists my arm, I don't want to be "mortgaged to the hilt", and I'll only entertain so much arm-twisting too ;-).

[Lampert]

Originally Posted by massnative71

. I think it's insulting to somebody in assuming they haven't worked through these things already

Imagine being offended by what I said lol.

[massnative71]

Originally Posted by Lampert

Imagine being offended by what I said lol.

Personally I would just chuckle at somebody on C-D telling me what "I could afford". Not all are that laid back though.