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I currently live and work in Boston and was talking to my coworker who lives in New Hampshire and commutes everyday. It sounds like a pain in the butt but when I found out that her mortgage is less than my rent, it got me thinking of commuting. I have visited Providence and really like the town. I actually thought of renting a place in Providence and commuting. I just looked at the house prices on Redfin and was blown away at how cheap they were! I was also surprised at how the rents are really not that low either. Sounds like it would be good to own property there. Just wondering how easy/hard would it to be to rent out/sell out later if I wanted to move? I have only visited once as well so if you could tell me anything about living there it would be great. Thanks!
I currently live and work in Boston and was talking to my coworker who lives in New Hampshire and commutes everyday. It sounds like a pain in the butt but when I found out that her mortgage is less than my rent, it got me thinking of commuting. I have visited Providence and really like the town. I actually thought of renting a place in Providence and commuting. I just looked at the house prices on Redfin and was blown away at how cheap they were! I was also surprised at how the rents are really not that low either. Sounds like it would be good to own property there. Just wondering how easy/hard would it to be to rent out/sell out later if I wanted to move? I have only visited once as well so if you could tell me anything about living there it would be great. Thanks!
Everything is relative. Compared to Boston most of PVD is less expensive. By Rhode Island standards the East Side is pricey. However, compared to most of Boston, not so much. There are some terrific neighborhoods for every budget and lifestyle. Here are 3 hoods I'm familiar with, Single family: East Side:$300k - $2m. Armory/West Broadway: $250k - $700k. Elmhurst: $200k - $400k. Roughly subtract $100k for condos. East Side & Armory are hot, hot markets currently. Renting & selling later would depend on the market at that time.
You'll likely find naysayers here and elsewhere, however living in Providence is pretty easy & enjoyable by most accounts. But, the commuters to Boston I know always complain and consider the commute an ordeal.
Everything is relative. Compared to Boston most of PVD is less expensive. By Rhode Island standards the East Side is pricey. However, compared to most of Boston, not so much. There are some terrific neighborhoods for every budget and lifestyle. Here are 3 hoods I'm familiar with, Single family: East Side:$300k - $2m. Armory/West Broadway: $250k - $700k. Elmhurst: $200k - $400k. Roughly subtract $100k for condos. East Side & Armory are hot, hot markets currently. Renting & selling later would depend on the market at that time.
You'll likely find naysayers here and elsewhere, however living in Providence is pretty easy & enjoyable by most accounts. But, the commuters to Boston I know always complain and consider the commute an ordeal.
For the record, my comment is not to be interpreted as a naysayer. As an RE investor in RI, I know that location is all and the various neighborhoods are varied enough to be vastly different. Anyone contemplating moving needs to do a lot of homework and not think that "cheap prices" are necessarily an undiscovered market.
Plenty of Boston commuters already rent here, but as you say, it's not that close. We don't really have high speed yet- both the MBTA and Amtrak are antidiluvian.
Location: RI, MA, VT, WI, IL, CA, IN (that one sucked), KY
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I bought a place earlier this year in the east side of providence (Wayland Square). The same place where I was living in East Somerville would have been at least 3x more.
For the record, my comment is not to be interpreted as a naysayer. As an RE investor in RI, I know that location is all and the various neighborhoods are varied enough to be vastly different. Anyone contemplating moving needs to do a lot of homework and not think that "cheap prices" are necessarily an undiscovered market.
Plenty of Boston commuters already rent here, but as you say, it's not that close. We don't really have high speed yet- both the MBTA and Amtrak are antidiluvian.
For the record. Far from being a naysayer, you have always been a PVD (at least the ES) booster. The naysayers, who will likely chime in shortly, are those who have fled RI, and remain relentless critics from afar.
I bought a place earlier this year in the east side of providence (Wayland Square). The same place where I was living in East Somerville would have been at least 3x more.
Location: RI, MA, VT, WI, IL, CA, IN (that one sucked), KY
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Quote:
Originally Posted by Hollytree
You commute to Boston?
No
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