2023 Real Estate Observations (Boston: HOA fees, calculation, inspection)

[yesmaybe]

Originally Posted by matrix5k

Here is a fun listing. HOA is $1,028/mo for a 250k unit. This has to be a typo?? That's nearly as much as the mortgage. I would expect HOA to be around $250-300 in this price range.

https://www.zillow.com/homedetails/2...ource=txtshare

Says it's a Co-Op so property taxes are included. But still very high.

[MtPleasantDream]

Originally Posted by jayrandom

People don't just change habits for no reason. They make reasonable decisions. If the commuter rail become better than driving, people would use it. There's a lot of ways to make that happen, but simply suggesting that people use the commuter rail probably won't move the needle at all.

It’s a cycle. If more people use trains, the commuter rails will be able to get more investment to improve.
The US is not as densely populated as Europe or East Asia, so it’s difficult to achieve that. However people always say Boston is like a European city so maybe it can be an exception.

[newenglandgal123]

Originally Posted by yesmaybe

https://www.redfin.com/MA/Acton/2-To.../home/11364836

You want affordable housing? Well.. this is the cheapest unit sold in the last 7 days that you could conceivably commute from - a condo in Acton. Just 159k albeit a $395 CF.

Bonus: Sellers claim that the tenant's been there 20 years and is currently paying $1500.

By the looks of that tv...seems about right that tenant has been there at least 20 years!

[msRB311]

Originally Posted by UNC4Me

My daughter and SIL think the commuter rail where they live is great. They can get to South Station in about 30 minutes. Or they can take the commuter ferry to the Seaport and it’s about the same amount of time. Their walks from either to their offices is about 7-8 minutes. They have 2 cars, but SIL drove in one time and said never again.

I guess some won’t be happy unless mass transit picks them up at their front door and drops them in front of their office building, but others are happy not to have to fight traffic.

Curious on where they live that they can get to south station in 30 min and also have a commuter ferry option

[matrix5k]

Originally Posted by newenglandgal123

By the looks of that tv...seems about right that tenant has been there at least 20 years!

20 years! Tenant could have paid off the mortgage by now.

[MtPleasantDream]

Originally Posted by matrix5k

20 years! Tenant could have paid off the mortgage by now.

I wouldn't buy such an apartment for myself to live in. For that income level, it's better to spend the money on good food and entertainment.

[matrix5k]

Originally Posted by MtPleasantDream

I wouldn't buy such an apartment for myself to live in. For that income level, it's better to spend the money on good food and entertainment.

But tenant paid 20 years of rent, basically paid the seller's mortgage the entire time.

[GeoffD]

Originally Posted by msRB311

Curious on where they live that they can get to south station in 30 min and also have a commuter ferry option

West Hingham looks like 33 minutes to South Station. Close enough. I clicked on Google Maps and the 9:20 from South Station gets to West Hingham at 9:53. If you had a real transportation meltdown, Red Line + Uber would get you home without breaking the bank.

[UNC4Me]

Originally Posted by msRB311

Curious on where they live that they can get to south station in 30 min and also have a commuter ferry option

Hingham. Commuter rail says 33 minutes so that’s “about” 30 minutes as I said. Commuter Ferry website says “about” 30 minutes. I don’t see an exact time on their site like on the commuter rail.

They both go into the office 3-4 days a week. They find these options convenient, easy and much better than fighting the traffic in their cars.

[MtPleasantDream]

Originally Posted by matrix5k

But tenant paid 20 years of rent, basically paid the seller's mortgage the entire time.

True, but for low-income people, owning properties can be counterproductive. Some welfare may be gone.
They may also receive section 8 funds.