People,
especially young adults, are generally pretty cautious about
purchasing real estate. Yet mortgage rates are low and homeowners
are now willing to accept values for their homes that in years
prior they would be less likely to consider. What does this mean?
Clearly there must be a place for the Greater Boston Area college
grads hoping to stay in Boston to plant their roots and stay for a
while, right?
In todays market it is critical that the causative factors
determining the future of the market within a town such as the
school system, availability of shopping, recreational activities
and even transportation (and many other variables) should be
considered. The housing boom in 2005 certainly made us think the
value of homes would only ascend, but no longer are we living
without worries about the size of our pockets.
So where do we find trust in and around Boston where young
individuals from near and far can safely leave the nest? Boston.com
has put together arguments for the top five starter neighborhoods
for first-time home-buyers. In no particular order of ranking,
please browse some of the top Boston area neighborhoods below:
- Allston – The median
home sales price within this town is $511,500 as of November 23rd
2011, which is up 100% from a year ago. The location of Allston is
second to none with its easy access to the Green Line, perfect for
the young commuter. A bustling neighborhood, Allston is the place
for people looking for a small suburb feel with a definite Boston
flare. - Charlestown – With the
current median home sale price of $394,000 Charlestown is
surprisingly down 12% from the past year. What sets the Charlestown
neighborhood apart is the strong sense of pride and affordability
within its borders. Charlestown residents seem to never leave, and
its for good reason. Very close to metro Boston, Charlestown is
ideal for you if living in an historical everlasting cornerstone of
Boston is what you fancy. - Brighton – November 23rd
of 2011 has Brightons median sales price at $303,000, this is up
21.6% from this time of year in 2010. Brighton borders Allston, so
much can be said for its transportation and location benefits. Its
affordability makes Brighton a prime destination for many Boston
College graduates as its plethora of condominiums allow for the
easy transition from dorm life to one on your own. - Mission Hill – Bostons
Mission Hill neighborhood shows $290,000 as its median sales price
at the time of November 23rd, down 11.3% from where it stood a year
ago. This gentrifying neighborhood sets itself to be a promising
buy with its current position being cheaper relative to the markets
of nearby towns. However, dont let this decrease in median sales
price deter you. Mission Hill has a great deal to offer the first
time home-buyer.
What this all comes down to is that there is a town for everyone
in and around Boston. By keeping up on current real estate trends
and becoming familiar with your Gibson Sothebys International
Realty agent, it is easier than ever to research together and
discern which neighborhood defines and complements
your lifestyle best.
Source: Curbed