"Should I rent or buy a home in Duxbury?" is a bit more specific question than the questions I've discussed in Should I Rent or Buy a Home?, Should I Rent or Buy Calculator: A Free, Comprehensive Tool, and Using the Should I Rent or Buy Calculator.
Those previous posts address the cost and pricing components of the overall "equation" involved in whether you rent or buy in Duxbury, or any other town. I will soon post a discussion of pros and cons and other, quality-of-life considerations that play into the decision.
Now, let me discuss the Duxbury rental market more specifically.
Duxbury has a very small rental pool. Less than 10% of the homes are rentals. Duxbury also has a fairly stable resident population. Even among renters, people tend to stay in Duxbury for a fairly long time.
Furthermore, there are very few multi-family homes in Duxbury.
Generally speaking, Duxbury has higher average and median home prices than neighboring towns and communities, and correspondingly higher rents.
All these factors combine to make rentals scarce in Duxbury, especially when home prices are stable or rising. Unless renters are planning on living with their friends, or a very special situation crops up, renters are pretty unlikely to score any great deals on long-term rentals.
If I were to give generic advice to people who want to live in Duxbury and are asking themselves, "Should I rent or buy a home in Duxbury", I would recommend that people consider renting in a nearby community, if they aren't living nearby now, and spending time finding the right home to buy.
That said, I'm always happy to help you find a rental in Duxbury. Never say that I shied away from a difficult task! Well, that and the fact that our office learns about most of the rental situations that crop up, so we are in a position to help renters and landlords meet each other and form a mutually beneficial rental relationship as soon as a property comes on the market.
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