Buying a house in Boston metro?

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econalex
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Buying a house in Boston metro?

Post by econalex »

GF and I are looking to buy a place in Boston metro area. We're leaning to SFH due to lack of HOA fee and appreciation potential, but very open to any suggestion. Below are some of our info (will edit to add more if asked):

Age: 31 & 30.5
Income: Combined $200k base; GF in IT management and I'm in data-related consulting.
Current rent: $2250 + $50 parking for 2nd car; 1-bedroom ~800sqft. (I'm selling my car to save money.)
Commute: Both WFH now; I'll be back in office full-time sometime in the future; GF will remain mostly remote.
Down-payment money: $200k, can put out more if necessary.
Retirement acct: 401k both maxed; my Roth maxed; GF's not.
Desired home features: >=2- bed-2-bath, garage (for winter and EV charging in the future).

The things we're exactly not sure is (not counting pandemic related situation) are if we want to buy in a nice school district and how much maintenance is gonna be. Our current rented apartment is nice but too small for us. Also not sure about the area (Dorchester) for a home purchase. OTOH SFHs in nice school districts are quite expensive and sometime very old. We can settle for a nice townhouse or even a large condo, assuming HOA is not too steep. For lifestyle we're really indifferent between urban/suburban. Maybe I'm more urban than GF (she likes driving).

Any suggestion (where/when/what kind etc.) is welcomed!
kamikazekid
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Re: Buying a house in Boston metro?

Post by kamikazekid »

Lots of great places to live. Where will you be commuting and how? If you are taking the train options can get somewhat limited since the T needs to be accessible with a short walk/drive. If driving, traffic on the mass pike is a concern.

Think also about how long you want to stay in the new home. If you arent intending to start a family (assuming you want to at some point) straight away you can get away with a 2bed/2 bath. If you do intend to start a family, you will outgrow this config. very soon.

Metrowest boston is a great place to live. Natick, Ashland, Holliston, Hopkinton, Westboro, Southboro ...tons of options but really depends on your goals with the purchase and your budget. Housing is expensive here :)
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econalex
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Re: Buying a house in Boston metro?

Post by econalex »

kamikazekid wrote: Mon Sep 27, 2021 10:30 am Lots of great places to live. Where will you be commuting and how? If you are taking the train options can get somewhat limited since the T needs to be accessible with a short walk/drive. If driving, traffic on the mass pike is a concern.

Think also about how long you want to stay in the new home. If you arent intending to start a family (assuming you want to at some point) straight away you can get away with a 2bed/2 bath. If you do intend to start a family, you will outgrow this config. very soon.

Metrowest boston is a great place to live. Natick, Ashland, Holliston, Hopkinton, Westboro, Southboro ...tons of options but really depends on your goals with the purchase and your budget. Housing is expensive here :)
Lots of useful tips, thanks! My office is in center downtown, but I've been hoping to get a new job before having to return to office :twisted: GF's home office is in Hartford CT (she moved here to be with me), but they also have a satellite office in Braintree. I'm familiar with the T (but not the commuter rail). Actually never drove to work.
fittan
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Re: Buying a house in Boston metro?

Post by fittan »

Check out Melrose. It is 10 miles north of Boston, decent school and the best is that there's a subway (orange line) straight into Boston. You should be able to get a 3 bedroom in the $700K+. Below are some options.

If you can swing it, check out Winchester. It's school is A+ but you'll need at least a million to but a shoebox there.

https://www.redfin.com/MA/Melrose/1120- ... e/11786532

https://www.redfin.com/MA/Melrose/83-Pa ... e/11791711

https://www.redfin.com/MA/Melrose/67-Sl ... e/11785718
Wellfleet
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Re: Buying a house in Boston metro?

Post by Wellfleet »

I would post this question on City-Data, there are a number of knowledgeable posters on there who really know the area: https://www.city-data.com/forum/massachusetts/

My two cents would be that it really depends on current and future office locations and commuting method. If the office is at the Seaport and future opportunities will be there, it makes sense to be as close as possible to South Station.

For instance, many people "love" Newton but from many parts of the City it's a long commute to South Station by transit.
DiMAn0684
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Re: Buying a house in Boston metro?

Post by DiMAn0684 »

I know nothing about your relationship, but I know that RE here is $$$. Are you sure you and your GF a ready for such a significant purchase together?
jharkin
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Re: Buying a house in Boston metro?

Post by jharkin »

You can probably afford something in metro west closer to 495 (Natick/Ashland/Hopkinton area and all the adjacent towns).. but the commute from there to downtown won’t be fun. Best bet to pick up commuter rail in Ashland or Franklin or something.

Being inside 128 would be easier but you are probably priced out of the desirable towns.


I didn’t suggest North or South shore because:
* 93 gets notoriously worse traffic than the pike
* Even further for the GF if she ever gets called to Hartford

(FWIW I live and work in this area. I’ve always worked for companies on or west of 128. Yes I am probably giving up 50% on salary, but I have a house 2x the size on 5x the land for half the money it would cost to live in Newton and I spend <1/4 the time commuting. I chose quality of life over stress and money)
Jack FFR1846
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Re: Buying a house in Boston metro?

Post by Jack FFR1846 »

If you consider going farther out, where commuter rail becomes your transport to in town, consider a couple things. First is the cost. It may be much more expensive than you'd assume. Next is parking. Some of the commuter lots, like Littleton are overflowing every single day. And now and then, the town police decide to ticket all the overflowed cars.

Would you consider an eBike to commute? One of our engineers left to work at a company located down town and eBikes in to Woburn year round. He uses bike paths where he can and onto city streets where he can't.

I can say that there are plenty of commuter stations out my way (outside 495) with Westborough and Grafton out past Ashland and Southborough. Schedules....I don't know.

I do know that there are plenty of houses out my way without HOAs. Commuter rail stations sometimes have condos, apartments and new developments nearby...maybe a mile or less.
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econalex
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Re: Buying a house in Boston metro?

Post by econalex »

Wellfleet wrote: Mon Sep 27, 2021 10:45 am My two cents would be that it really depends on current and future office locations and commuting method. If the office is at the Seaport and future opportunities will be there, it makes sense to be as close as possible to South Station.
Thanks for the advice! This is exactly what I worry about, since I'm looking for new job and commute is not finalized. Incidentally I really don't like seaport. All those glass office towers :oops:
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novolog
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Re: Buying a house in Boston metro?

Post by novolog »

Wife and I are in the process of looking for a house in greater Boston w/ similar household income (215k). We are both fully remote right now, and likely will be going into the office 1 day per week max in the future.

We grew up in greater Boston and we are doing most of our searching in Billerica and Chelmsford. The top of our budget is 600k.

Both towns have good school systems and are near commuter rail. They seem to be more affordable than other towns of the same caliber.

We're also considering Littleton, but that would be a little further out.

It is crazy making more money than 75% of households in the Greater Boston area, but not feeling like we can afford anything inside of 495. Not sure where all the money is coming from :confused
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Admiral
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Re: Buying a house in Boston metro?

Post by Admiral »

I know nothing about Boston r.e. (aside from how expensive it is) but I do know plenty about marriage: I would not buy a house with a girlfriend, unless she's your betrothed. Get married first, unless you don't plan on ever getting married, in which case I would not share in the mortgage or title.

Just my $.02, and doing my Bh part to answer a question that was not asked. :?
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riverant
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Re: Buying a house in Boston metro?

Post by riverant »

Much of this depends on what sort of commute you're willing do. If you're set on taking the MBTA (subway) to work or the bus, you're likely right in that SFHs will be very expensive and/or falling apart due to age. The neighborhoods will likely be heavily renter skewed, which tends to be college students and new grads.

If you're willing to go further out on the commuter rail, it depends more on where in the city you're going to, your budget, and if you want to the total suburban feel or just have a SFH in a more urban area. I would strongly encourage "nonstop" routes - that is, don't take a train into the city and then have to hop on a subway to go to the other side of the city. I'd also lean towards towns that are within driving distance of the commuter rail.
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novolog
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Re: Buying a house in Boston metro?

Post by novolog »

TJat wrote: Mon Sep 27, 2021 2:08 pm I would strongly encourage "nonstop" routes - that is, don't take a train into the city and then have to hop on a subway to go to the other side of the city. I'd also lean towards towns that are within driving distance of the commuter rail.
+1

Unfortunately commuting into south station when your office is in kendall square could add 45 min to your commute.

From what I've seen, people who live south of Boston work tend to work in financial district or Copley area.

People who live north of Boston tend to work in Cambridge/Kendall or closer to North station.

There are a few towns in metrowest that can choose between either set of commuter rails.
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Mr.Chlorine
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Re: Buying a house in Boston metro?

Post by Mr.Chlorine »

Prioritize finalizing potential new job(s) before buying. I am guessing you want to be full-time WFH, but things might change if you get a great offer for an in-office role.

Since you both WFH now, in an 800sq apartment, I am going to assume the relationship is pretty stable. If kids are in the near future, I would consider schools. If you are not sure or know that kids are still 5+ years out, then forget schools. Too much can change in 10ish years.
w5000
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Re: Buying a house in Boston metro?

Post by w5000 »

I'd suggest going to a realtor -- that's part of their job to help you figure out what you want!

The one thing in your post that I'd take issue with is that you say you are leaning towards a SFH in part to avoid a HOA fee. Yes, if you buy a condo in a building with a parking garage, elevators, and professional management, then you will pay $$$ in HOA fees. But if you buy a condo in a 2 or 4 unit house where the owners self-manage the property, then the HOA fee is just the maintenance costs, and could even be less than what you would pay for maintenance on a SFH. You might have other reasons to want a SFH (like not sharing walls/floors with neighbors...)
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Beachey
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Re: Buying a house in Boston metro?

Post by Beachey »

DiMAn0684 wrote: Mon Sep 27, 2021 10:45 am I know nothing about your relationship, but I know that RE here is $$$. Are you sure you and your GF a ready for such a significant purchase together?
That is the portion that caught my eye, where are you in your relationship? Buying a house when you are not married especially when you need both incomes to afford the mortgage is generally a bad idea.
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econalex
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Re: Buying a house in Boston metro?

Post by econalex »

Beachey wrote: Mon Sep 27, 2021 2:55 pm
DiMAn0684 wrote: Mon Sep 27, 2021 10:45 am I know nothing about your relationship, but I know that RE here is $$$. Are you sure you and your GF a ready for such a significant purchase together?
That is the portion that caught my eye, where are you in your relationship? Buying a house when you are not married especially when you need both incomes to afford the mortgage is generally a bad idea.
This is not an issue financial-wise. At worst, family on either side would be able to buy the other side out.
TA_Lurker
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Re: Buying a house in Boston metro?

Post by TA_Lurker »

Do not buy north of Boston if anyone needs to commute south of Boston (and vice versa). A disconnected metro train system and overcapacity roads make it time consuming to commute to opposite sides of the city most rush hours.
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Re: Buying a house in Boston metro?

Post by soxfan10 »

fittan wrote: Mon Sep 27, 2021 10:45 am Check out Melrose. It is 10 miles north of Boston, decent school and the best is that there's a subway (orange line) straight into Boston. You should be able to get a 3 bedroom in the $700K+. Below are some options.

If you can swing it, check out Winchester. It's school is A+ but you'll need at least a million to but a shoebox there.

https://www.redfin.com/MA/Melrose/1120- ... e/11786532

https://www.redfin.com/MA/Melrose/83-Pa ... e/11791711

https://www.redfin.com/MA/Melrose/67-Sl ... e/11785718
Melrose/Reading/Lynnfield are all nice, but the only one of those houses that has any chance of selling in the $700k range is the 1300 square foot one. Houses in good condition in the 1800-2000 sq foot range are consistency going for 775-900k in this area depending on which town were talking about and the exact locations and features of the house.
livelovelaugh00
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Re: Buying a house in Boston metro?

Post by livelovelaugh00 »

Admiral wrote: Mon Sep 27, 2021 1:53 pm I know nothing about Boston r.e. (aside from how expensive it is) but I do know plenty about marriage: I would not buy a house with a girlfriend, unless she's your betrothed. Get married first, unless you don't plan on ever getting married, in which case I would not share in the mortgage or title.

Just my $.02, and doing my Bh part to answer a question that was not asked. :?
+100
techrules
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Re: Buying a house in Boston metro?

Post by techrules »

novolog wrote: Mon Sep 27, 2021 1:47 pm Wife and I are in the process of looking for a house in greater Boston w/ similar household income (215k). We are both fully remote right now, and likely will be going into the office 1 day per week max in the future.

We grew up in greater Boston and we are doing most of our searching in Billerica and Chelmsford. The top of our budget is 600k.

Both towns have good school systems and are near commuter rail. They seem to be more affordable than other towns of the same caliber.

We're also considering Littleton, but that would be a little further out.

It is crazy making more money than 75% of households in the Greater Boston area, but not feeling like we can afford anything inside of 495. Not sure where all the money is coming from :confused
Ayer has new construction and a train stop, if you havent explored it already .
fittan
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Re: Buying a house in Boston metro?

Post by fittan »

soxfan10 wrote: Mon Sep 27, 2021 8:28 pm
fittan wrote: Mon Sep 27, 2021 10:45 am Check out Melrose. It is 10 miles north of Boston, decent school and the best is that there's a subway (orange line) straight into Boston. You should be able to get a 3 bedroom in the $700K+. Below are some options.

If you can swing it, check out Winchester. It's school is A+ but you'll need at least a million to but a shoebox there.

https://www.redfin.com/MA/Melrose/1120- ... e/11786532

https://www.redfin.com/MA/Melrose/83-Pa ... e/11791711

https://www.redfin.com/MA/Melrose/67-Sl ... e/11785718
Melrose/Reading/Lynnfield are all nice, but the only one of those houses that has any chance of selling in the $700k range is the 1300 square foot one. Houses in good condition in the 1800-2000 sq foot range are consistency going for 775-900k in this area depending on which town were talking about and the exact locations and features of the house.
This was in the news yesterday. "Only" $399K :)
https://www.redfin.com/MA/Melrose/20-Be ... e/11782123
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rob
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Re: Buying a house in Boston metro?

Post by rob »

fittan wrote: Tue Sep 28, 2021 11:52 am This was in the news yesterday. "Only" $399K :)
https://www.redfin.com/MA/Melrose/20-Be ... e/11782123
Ok... so it needs some fresh paint :D
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chw
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Re: Buying a house in Boston metro?

Post by chw »

Need to know what part of Boston you are both commuting to. Big difference on recommendations.
BeerTooth
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Re: Buying a house in Boston metro?

Post by BeerTooth »

rob wrote: Tue Sep 28, 2021 11:57 am
fittan wrote: Tue Sep 28, 2021 11:52 am This was in the news yesterday. "Only" $399K :)
https://www.redfin.com/MA/Melrose/20-Be ... e/11782123
Ok... so it needs some fresh paint :D
A+ realtor effort to stage the home for sale...the solitary Halloween pumpkin on the burned-out porch
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MAandMEMom
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Re: Buying a house in Boston metro?

Post by MAandMEMom »

Many people will begin their search by using the commuter rail stops and going out as far as is necessary based on price. I used to work in Franklin and access to the commuter rail is great as is the community.
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Re: Buying a house in Boston metro?

Post by DVMResident »

econalex wrote: Mon Sep 27, 2021 1:09 pm
Wellfleet wrote: Mon Sep 27, 2021 10:45 am My two cents would be that it really depends on current and future office locations and commuting method. If the office is at the Seaport and future opportunities will be there, it makes sense to be as close as possible to South Station.
Thanks for the advice! This is exactly what I worry about, since I'm looking for new job and commute is not finalized. Incidentally I really don't like seaport. All those glass office towers :oops:
On the flip side, the ferry into Seaport is the best commute in Boston. That’s Hingham into Rowe’s wharf. Alternatively, commuter rail into South Station has multiple stops across Plymouth county. There’s a lot of SFH in Plymouth county with good schools and won’t require driving through Boston to get to Hartford, CT.

FWIW, I agree you have to figure out your commute first and then move. North vs South Shore vs western communities are very clear divides. Getting on the wrong side will force you to drive through Boston.
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ivyhedge
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Re: Buying a house in Boston metro?

Post by ivyhedge »

I'm pleased to see the energetic response!

We make more than you do, but are pleased to spend to cut our commute. When we bought in Cambridge, our commute by bus/car dropped from ~60 - 75 minutes to ~12 (me) and ~20 (spouse) by bike. We both work near PO Square (although she could get to 200 Clarendon in 18 - 22 - esp in the winter). We loathe commuting, so we killed it.

Since folks have already contributed considerable wisdom to your initial query, I'll part with two offerings:

1) Cambridge property tax. It's mostly paid (subsidized) by our biotech/tech industry. Our home is *supposedly* valued in the seven figures, and our property tax is ... negligible by any standard (regardless of municipality or state), and has dropped twice since when we bought in 2013, and otherwise barely risen. Folks reading my post while WFH are likely nodding.

2) Feel free to ping me. As a NY transplant by way of DC, it's a different town. I'll be happy to meet or otherwise assist another BH's settlement.
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teamDE
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Re: Buying a house in Boston metro?

Post by teamDE »

As I'm sure you know, man is it a tough time to be buying. We have two sets of friends looking for houses in the $800k range, north of Boston, and are pretty stuck and have been for 9months.

Our gang all lived in Somerville, we lived in Davis Sq., and then moved north to Melrose/Stoneham/Wakefield to buy houses and gain some space. Melrose is a great town with a younger family/progressive kinda vibe, but its a hot spot and prices and competition are extra nutty. You'll find lots of younger families from Cambridge/Somerville in this area. We both work in Cambridge. My wife takes the commuter rail three stops to North Station. I drive in. Of course we're now working from home more often which is nice. In Melrose you also have Orange Line access.

I wouldn't recommend Dorchester. It has potential, but I have a buddy there and it can be rough.

But yes, first things first. You MUST figure out where you commutes will or could be. The north/south and even west divides are real!
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