When does owning your home become cheaper than renting? There are plenty of pros and cons both ways but if we look at cost only, the gap continues to narrow, particuarly here in Boston, MA and North of Boston. Try this handy Rent Vs. Buy Calculator from Realtor.com to help you decide. Have questions about neighborhoods, schools, community services, home values, etc.? Speak with an experienced professional who knows the area! We do! 978-356-8922
TONIGHT the Town of Lynnfield, MA will hold a Town Meeting that will, if passed, affect the rights of its property owners.
Take a look at Article 6 on Lynnfield's Town Warrant. This language would prohibit owners of single family homes from renting out THEIR PROPERTY, if the rental period is 30 days or less. No doubt what prompted the panic was the Lynnfield fatal shooting at a sprawling mansion earlier this year.
I can certainly see a homeowner's initial reaction being, "Why should anyone be able to dictate what I can and cannot do with my property?" However, there seems to be more to the story when you dig deeper. Sure, we have Little Neck, Great Neck, and Plum Island which come to my mind immediately; and all the weekly and seasonal short-term rentals that allow many of those owners to afford their slice of paradise. Many of my personal best vacations were the weekly rentals of beach-front and lake-side homes. Are vacationers ruining the fabric of the neighborhoods? One of the biggest opponents of Airbnb says exactly that about how Airbnb is hurting the neighborhoods of NYC. His (some say hypocritical) position is that it forces would-be long-term renters out for the astronomically high rents short-term renters are willing to pay. He does make a point there.
What do you think?
We love Cape Ann! Thank you North of Boston for having a fantastic blog and sharing so much information from everything to beaches to lighthouses to museums to whale-watches!
The Economic Policy Institute released its 2015 family budget calculator which measures the income a family needs for a modest living. Ipswich falls under the "Boston/Cambridge/Quincy, MA Metro Area". In fact, most North Shore towns seem to fall under this category. Five kids? No kids? Single adult? Live in Lynn, Manchester by the Sea, Winthrop, Marblehead? Here's the calculator, PLAY!
TUNE in this Saturday, May 23 at 9am to NORTH SHORE 104.9 with RICK CARTER, TONY V & their CRAZY REAL ESTATE GUESTS to find out...The Truth about real estate on BUNKER HILL... What to do in a BIDDING WAR for a NEW home... How do appraisers REALLY establish VALUE when evaluating YOUR HOME... is LOCATION, LOCATION, LOCATION really the key to a higher pricce AND more importantly.... does CHEST HAIR really drive women wild??????
Ipswich didn't make Huffington Post's list of New England's picturesque towns but I'm happy to say two North Shore towns did! Did you know Edgartown Light (house) on Martha's Vineyard was constructed in 1875 at Crane's Beach in Ipswich, MA and was moved by barge in 1939 to Edgartown? So a piece of Ipswich did make the list! Click here for New England's 15 most picturesque towns. Click here to read more about Edgartown Light.
This representation is based in whole or in part on data supplied by our MLS partners. These entities neither guarantee nor are responsible for data accuracy. Data maintained by MLS may not reflect all real estate activity in the market.
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