Real estate is an excellent investment option because it generates a predictable income source and its value increases over the years. Whether you’re new to real estate investing or a seasoned professional, you need to know which Boston neighborhoods make the best investments.
Jamaica Plain and Roslindale
These neighborhoods are slowly becoming too expensive for low income and middle class renters, but both of them are attractive to young professionals with few obligations who can afford the rent. A current trend among investors in Jamaica Plain and Roslindale is to live in a multi-family property they buy or in a single-family home with extra rooms. They can then rent out the space they are not using. One obvious benefit to this is that your renters pay most of the mortgage.
Roslindale is the more affordable of these two areas. People who are priced out of Jamaica Plain are heading to nearby Roslindale to look for housing. This is good news for you as an investor. The area also has a huge draw in Roslindale Square. The weekly farmer’s market is a hit, as are the numerous restaurants and shopping options.
Other Boston Neighborhoods to Consider
Condos are an attractive option for people who want stability without the demands of home ownership. The Brighton neighborhood is home to several one and two-family homes that have been converted to condos. This is a good time for investors to get in on the growing condo market in Brighton. The area is also home to Brighton Center. It is a vibrant area containing shops, restaurants, and many businesses.
East Boston offers an amazing skyline view and is connected to greater Boston by harbor tunnels and the MBTA’s blue line. The area has improved significantly over the past few years and is attractive to renters. If you prefer to buy investment property in the suburbs, consider Watertown. This Boston neighborhood is less expensive than the city and may be a good option for renters with young families.