Found Flexibility in a House near Harvard Square

A couple I worked with purchased a large house in Cambridge’s Marsh Billings Historic District near Harvard Square. Their children had left for college and they decided to relocate to Harvard Square from a nearby suburb. They intended to downsize to a four-bedroom stand-alone house, with off-street parking, and convenient to nearby restaurants, shops, and transportation. She worked overseas in academia and he had a thriving medical practice in a Boston suburb.

I alerted them to tour the a house that met these needs and it had a bonus: an accessory apartment. It was a lovely home, and was in need of substantial renovations. They loved the house, placed a strong bid, and purchased the home. Their intention was to live in the “big” house, and rent out the accessory apartment.

Then, one day after much of the renovation had been completed, they realized that being empty-nesters allowed them the freedom to travel together more frequently. They changed course and decided to live in the apartment, which was very nice in its own right, and lease the house, to provide a substantial rental income. It’s also possible that their situation will change in the future. They know that they have the flexibility to move out of the apartment and into the house at a future date.

Jeff Meese Realtor + Architect

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