John & Anthony Talk to FOX25 Morning News on How to Choose Where to Live
Read related blog post: How to Choose Where to Live
One price, 3 homes, and 3 different communities, how do you decide? Joining us this morning is John McGeough and Anthony Lamacchia of Lamacchia Realty nice to see you guys. I didn’t get the message guys or I would have dressed in my gray outfit!
We have different ties to mix it up!
Ok so let’s talk about this, you’re out there looking for a home before you choose a community there’s a couple things you need to think about.
That’s right, the big three things that we always highlight are: where you work, proximity to family, and essentially what you can afford.
Because if every community can offer you something different for your price.
There’s always a balance between getting more for your money but not being too far from where you work or from your family.
Absolutely, one of the things we were chatting about before we went on the air is that you really advise people, you’re out there buying your first home: you think it’s your first home and you have no children so your situation is one and then it suddenly changes.
I’ve had a lot of friends do that. I got into this business in 2004, and at that time I had a lot of friends in their mid-20s going out buying, “Oh it’s just our first house we’ll move in a few years.” Sometimes it’s not always easy to move because of pricing, and there were some people who would move further away and say, out here I get more for my money, I get a bigger house, and that’s true but they also have to think about that commute because that commute can get old if you keep doing it. So you have to take that into consideration and you also have to take family into consideration.
First baby comes along and grandma is really far away!
Right, a lot of people don’t think about that when they’re looking.
Alright, so what you guys have done, you’ve chosen 3 different communities for us for one price so let’s take a look and the 3 communities are:
Watertown, Dunstable, and Milford.
Ok and this house here is a ranch in Watertown, actually down the street from where I grew up, and it’s about 1000 square feet, 3 bedrooms and 1 and a half baths, 7,000 square foot lot and just sold for $360,000.
Ok so that’s what about $360,000 will buy you in Watertown.
If you want to be close to Boston, about 8 miles, for a more urban feel that’s Watertown.
The closer you get to Boston it’s going to cost you more?
Ok let’s talk about the next town.
The next town is Dunstable. It’s about 1/10th the size as far as population as Watertown so a much more rural feel, south of Nashua, close to 495, more of a 45 minute [commute] outside of Boston, sometimes a little more depending on traffic, you’re getting a 4 bedroom, 3 full bath, 2600 square feet, a couple acres, much more of a traditional Colonial so much more of a larger family style home but you can expand and hopefully put some roots down.
Did that house recently sell?
That one is on the market right now.
It’s going for $360,000.
Where’s our 3rd community?
The 3rd one is Milford. So that community is similar in size to Watertown, it’s about 27,000 as far as population, close to 495 as well, you’ve got EMC employer [nearby], the town has done fairly well, obviously it’s been hit a little bit, you’re getting good bang for your buck, another $350,000 to $360,000 range, newer Colonial, it’s on a small subdivision, 4 beds 2 and a half baths, a great room over the garage, so once again depending on where you’re looking to live, quite a bit of house in comparison to say Watertown, a little smaller.
Absolutely, but keeping in mind too that if the commute is an issue for you or if you have issues with parents maybe taking care of your children at some point in your life, then maybe a smaller home is for you if you can get closer and it just depends on what works for your life.
That’s right and the commute is a big thing, I’ve had some people say oh it’s only 20 minutes, and I say when, in the middle of the night? Drive it at peak times and make sure you can do that every day, if you can and you’re happy with it, then buy the house.
If it works into your lifestyle then go for it.
And these are the critical 3 things so they actually stay in the home for 7 to 10 years, build equity, and hopefully establish some strong roots in that town and that home.
Great tips you guys like always, great to see you and Happy Thanksgiving.
Happy Thanksgiving to everyone.
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