If You Can Tear It Down, Buyers Will Rebuild It

As a successful realtor in greater Boston’s western suburbs, I hear it all the time from people relocating from other locales across the country: “The closets are small, the bedrooms are tiny, the kitchen needs updating, and the prices are high.”

Yup.  Boston is one of the most sought after cities in the country.  And we all know why.  We love living here.  It’s why we put up with the traffic, taxes, and crazy weather.

But for people from younger cities and towns, the older construction and lack of modern amenities at what they perceive to be as ‘high prices’ confounds them.  And so, with many of these folks flush with cash from relocation packages or their own house sale, they decide to pick a modest home in a good location with the intention of tearing it down and building something larger and more modern.

And while it used to be that slab ranches and 2 bedroom construction was the primary focus for a rebuild,  in recent years I’ve seen that even sprawling homes built in the 1980’s are the target for teardowns!

People want ‘new,’ and in Boston to find ‘new’ is nearly impossible since the land is but all built out.

So popular towns, like Wellesley, Needham, Newton and other communities typically with good school systems and within easy commuting distance to Boston, are the targets of choice for buyers looking to find the perfect location to build their dream house.

And while many towns have tried to deal with the popularization of “McMansions” being built in some areas, which can squeeze out those on fixed incomes who’ve lived in these communities their entire lives;

List of numbered routes in Massachusetts (Photo credit: Wikipedia)

for the most part, the influx of dollars and families is welcome.

Route 128 towns are by far, the most popular for people looking for the right location who realize they might not find the right house.

A recent article by Scott Van Voorhis in the Boston Globe, gives us a look at the current state of what is essentially  “If  You Can Tear It Down, They Will Rebuild It…”

Teardowns on the rise in some communities inside Route 128 – The Boston Globe

…Wellesley also saw demolition permits dip during the recession, down to 38 in 2009. But there has been a steady rebound since then to 46 in 2010, 48 in 2011, and 15 in 2012 as of the middle of last month, according to Meghan Jop, Wellesley’s planning director.

“We have never really seen a falloff in demolitions,” Jop said. “Wellesley is a pretty built out community in terms of new home construction. It is teardown/rebuild that we primarily see.”

– The Boston Globe

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Home prices show resilience along Route 128 – The Boston Globe

Home prices show resilience along Route 128 – The Boston Globe.

“A new find, this terrific site provides information many aspects of Route 128, especially the businesses
that defined the road, and the region.” – courtesy ‘Building Route 128’

Related:

Legacy Place: New retail landscape along Route 128 :: 08/27/2009

Building Route 128 – David Fruh and Yanni Tsipsis

 

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