I caught an article in the Boston Globe’s Twitter feed yesterday that says that Boston’s high cost of living is pushing younger people out of the city, especially when they decide to stop renting and want to buy a home.
It’s tough to compete as a first-time buyer in the Greater Boston area — inventory is slim and home prices continue to rise. There have been stories about hordes of buyers fighting over new listings, where all contingencies are being waived (inspection, financing, etc), and people are paying tens of thousands of dollars over asking price just to get their foot in the door (literally).
As a Realtor, I have been seeing an up-tick in interest in Worcester County from Boston-area residents — both homeowners and investors alike — over the last few years. And I feel interest will grow as people find out that Worcester is filled with most of the amenities they’re accustomed to in and around Boston, for a more reasonable cost of living. Big-ticket projects like the City Square project, the Canal Lofts, the Voke Lofts, the Grid District, and the brand new mixed-use Whole Foods plaza over the border in Shrewsbury show that there is developmental faith in Worcester. Plus, there is the bar and restaurant scene that has recently exploded and the rise in GOOD coffee shops across the city, which was just a dream two to three years ago.
It may not be as polished as Boston, but Worcester is steadily getting there. As a taxpayer in the city for the last nine years, I can say first-hand that Worcester has been slowly transforming into the perfect place for displaced Bostonians.
Tired of barely scraping by in Boston? Come to Worcester. It’s pretty damn good here.
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