2021 Real Estate Observations (Worcester, Cambridge, Somerville: backyard, lawnmower, permit)

[matrix5k]

Condos and townhomes are listed for 600-800k in Burlington. For that price I'd rather own a SFH with my own yard and privacy and 2 car garage. I'm all set with sharing walls and living in close proximity to neighbors. Otherwise what's the point of living in the suburbs? To me, townhomes are just developers milking as much money as they can on one lot.

[yesmaybe]

Originally Posted by matrix5k

Condos and townhomes are listed for 600-800k in Burlington. For that price I'd rather own a SFH with my own yard and privacy and 2 car garage. I'm all set with sharing walls and living in close proximity to neighbors. Otherwise what's the point of living in the suburbs?

I agree. I don't know who's buying the new construction unless it's those hedge funds to rent out. I will say you are talking about new construction versus something that was built 60+ years ago.

A new construction home there would be well over a mill I bet.

[msRB311]

Originally Posted by matrix5k

Condos and townhomes are listed for 600-800k in Burlington. For that price I'd rather own a SFH with my own yard and privacy and 2 car garage. I'm all set with sharing walls and living in close proximity to neighbors. Otherwise what's the point of living in the suburbs? To me, townhomes are just developers milking as much money as they can on one lot.

Yep this is definitely a reason older people don’t downsize anymore. There’s no where to go. Most people don’t want to sell their house and then downsize to a place that costs the same or in some cases even more. I’ve seen a few people move down south but most don’t want to do that if they kids or grandkids in the area. So they’re staying in the homes they bought decades ago. Then people in their 30s are buying a starter home for 950k.

[lrfox]

Originally Posted by matrix5k

Condos and townhomes are listed for 600-800k in Burlington. For that price I'd rather own a SFH with my own yard and privacy and 2 car garage. I'm all set with sharing walls and living in close proximity to neighbors. Otherwise what's the point of living in the suburbs? To me, townhomes are just developers milking as much money as they can on one lot.

I think most people feel this way. We're happy in our condo in the city, but sharing walls with neighbors and sacrificing some square footage was a compromise we made to have easy access to work and entertainment. If we were to go to the 'burbs, it would absolutely be a SFH. And while I understand that some people like condos so that they don't have to do yardwork, shovel snow, or maintain the exterior of the building, I think the market gets a lot smaller when there's not also a savings in terms of the sales price.

[newenglandgal123]

Originally Posted by matrix5k

I find the houses with grass growing out of control are mostly owned by elderly people who can't mow the lawn. Maybe they can't afford to pay anyone or just don't care anymore.

That is another issue, these older people who never sell their SFH can't really downsize because there's nowhere economical to downsize to. As mentioned above, condos cost almost as much as SFH so what's the point of getting one?

I wish that was the case but in my experiences, the ones in neighborhoods I've lived in have been able bodied (early to mid 30 ish yo) individuals. Perhaps they're first time home buyers who don't quite get the concept yet that along with home ownership comes the maintenance. Either that or they're just plain lazy!

[msRB311]

My neighbor is about 90 and mows her own lawn. It’s a big lawn on a hill too. She’s pretty bad ass. Her lawn looks amazing. I’m sure plenty of people out there would love for her to sell her house.

[newenglandgal123]

Originally Posted by msRB311

My neighbor is about 90 and mows her own lawn. It’s a big lawn on a hill too. She’s pretty bad ass. Her lawn looks amazing. I’m sure plenty of people out there would love for her to sell her house.

I love when I see that. These people love their homes and they're still getting out there every week doing their own maintenance! Very inspiring!

[charolastra00]

If I were to buy a single family house, I'd convert the lawn into a meadow of native plants like clover and wildflowers interspersed with raised beds for a garden. Lawns are demanding in terms of time and resources (water, especially) and don't benefit the local ecosystem, and it doesn't seem like younger folks are as interested in having a lush green lawn in front of their house as our parents did. I've had a handful of friends and coworkers buy over the pandemic and many are converting their yards back to being a bit more wild. Yes, even with kids.

Y'all probably want people like me living in a townhouse for that very reason. I'm sure if I moved into a SFH, my neighbors would be horrified at what I did to the yard. The less grass, the better!

[msRB311]

I am not that into the lawn to the point that I'd be out there taking care of it like it's my job but my DH is.

[robr2]

Originally Posted by matrix5k

Condos and townhomes are listed for 600-800k in Burlington. For that price I'd rather own a SFH with my own yard and privacy and 2 car garage. I'm all set with sharing walls and living in close proximity to neighbors. Otherwise what's the point of living in the suburbs? To me, townhomes are just developers milking as much money as they can on one lot.

It may not be for you but there are plenty of elderly here in Burlington that would love to sell their home and move into a townhouse or condo in town that they can afford. The $600K+ starting point for those is often a more expensive option than the small ranch they currently own outright.

My 86 YO neighbor has a typical 3 BR split that is probably very outdated inside. Zillow value is $650K - probably closer to $700K in the real world. Taxes are under $5K a year and there isn't much upkeep needed.

Her options are:

• stay put and pay the taxes
  
• sell and buy a townhouse in Burlington for a similar amount, pay similar taxes, add a $400/month condo fee and wind up with multiple sets of stairs and no yard
  
• sell and move out of the town she's been in for 60+ years and giving up all the connections she has.
  
• sell and move into independent/assisted living starting at about $5K/month here in town.

This woman was still working a couple of years ago as a home health aid "helping the old people" as she would say.

Trust me, I know that any developer coming into town isn't going to build units that would sell at prices that would be beneficial to the elderly