Boston

[Parag]

I am looking for an investment property in the South Shore. About 400K - 500K range, as close to the water as possible. Ideally water views, but proximity is the more key factor. What are the nice towns that I can get good value for money at?

Also, I saw an aprtment for 250K in Weymouth - is that considered South Shore? Sorry to come across as ignorant, I live in Newton and don't get down there much.

[MassLoanOfficer]

Yes, Weymouth would be considered the South Shore.

In proximity to the water - are you looking for view? swimmable beach? elevation of any kind?

Least expensive towns with waterfront real estate just south would be Quincy, Weymouth, Hull and then further down towards plymouth.

There is a lot to consider in these towns . . . is commute a factor? Schools (for rental value)? transit?

You might want to take a drive down 3A, out towards nantasket, etc. . . . get a feel for the towns, the culture, the landscape. I think it would be pretty telling, and it is a nice drive on a warm day.

[Parag]

Thank you, and my apologies for taking a few days in acknowledging your response. 

You are asking me questions that I should think through. I am not looking to live there anytime soon, and was looking for something I could buy, use the rent to pay off the full or partial mortage and basically build an asset. Holistiacally, a place that I would not mind downsizing to years from now. 

So key criteria would be an educated town populace, somewhat of an attractive local downtown. Swimmable beach would be nice, perhaps not a must have. 

[Parag]

And yes, a view is more important to me than a swimmable beach. Pardon y ignorance, I am not sure I understand the relevance of "elevation"? 

[MassLoanOfficer]

Elevation affects the cost of your insurance drastically in some towns - being in a flood zone can add quite a few dollars to your monthly cost to carry, and perhaps affect your resale for the same reason . . . so it is a consideration for some buying investment property where the numbers have to "work".

Flood maps and plains can be found here for free: https://msc.fema.gov/webapp/wcs/stores/servlet/FemaWelcomeView?storeId=10001&catalogId=10001&langId=...

[MassLoanOfficer]

Plymouth is a lot more for your money (somewhat due to the longer commute to urban areas). The downtown, being historic, is kept cute and is on the water. Lots of community activity in the summer season. Diverse population, more of an urban feel than the sleepy towns, big enough to find "your crowd", I suspect, whatever defines that for you.  A lot of waterfront quincy and outer hull have beautiful harbor views for far less than the scituate, cohasset, hingham, duxbury set. The downtowns are not agressively "cute", though, and hull adds fighting the beach crowds to get home at night . . .

The more pricey towns are very nice, attract educated folks, and may be fine for your pricerange if you want a "downsize" sized place. If you plan to get a small I like Kingston for "out of the way", and Marshfield for summer/cottagey feel and tranquil winters. . . . and I've seen real bargains in both. Definitely drive the coast now that season is coming. Stop into the local antique shops, coffee places, maybe a coastal restaurant and look around - what you want may jump out at you.