Boston Starter Neighborhoods – Boston Real Estate

Boston Real Estate: Starter Neighborhoods

Boston Real Estate

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 today’s 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 Brighton’s 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. It’s 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 – Boston’s 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, don’t 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 Sotheby’s International Realty agent, it is easier than ever to research together and discern which neighborhood defines and complements your lifestyle best.

Source: Curbed

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