As a real estate investor, Boston will always be a wise choice to consider. It is bound to get you good returns in both the short- and long-run, whether you’re interested in house-flipping, looking to rent, or just adding some equity to your portfolio. Home prices have continuously trended upwards in Boston each year, and with good reason. This city will always be an attractive place to live because of its rich history, the universities, the culture, and iconic sporting events. Job seekers also flock there because of the possibilities for employment year after year. The public transportation is consistently rated 2nd in the nation, and the food scene is a perfect fit for the diverse group of both locals and tourists alike who frequent the dining scene. It is no wonder, then, that the predicted real estate outlook for Boston is going to be seller-friendly.
Millennials who want to live in Boston are starting to realize that the commute is worth it for a slightly larger living space, especially if clean and efficient commuter rails eliminate the need for car maintenance or parking fees. Since the Boston area itself is pretty much at maximum capacity, this means an increase in the demand for outlying neighborhoods. A limited supply coupled with increasing demand means it’s a seller’s market.
Somerville is already a coveted location because of its attractiveness to the younger crowds, but it will be even more so with the upcoming residential construction projects and extension of the Green Line train that will connect with Union Station and the creation of six new subway stops along its line. The added advantage of having an extended commuter rail line is that more people will choose to take the train instead of driving, thereby freeing up traffic and easing air pollution.
Other neighborhoods which will see an increase in demand are the working class W towns, most notably, Waltham and Watertown, located to the North and West of Boston. Norwood also has the advantage of being very close to interstates 93 and 95, along with having stops along the popular commuter rail.