In the 2015 American Consumer Survey by the U.S. Census Bureau, Massachusetts was found to be the second most valuable state to buy a home in. Why’s that? Location, location, location!
Living in Massachusetts has proven to be quite a luxury: close access to major cities with abundant transportation, reputable school systems, and low crime rates have made it an ideal place to look for a home. For these reasons, home values have been recorded to have a median value of about $352,100, while the value per acre is about $102,214.
Now those numbers might look a little high, but a buyer needs to realize that when they choose a home in Massachusetts, they are not only buying a house, but are paying for the environment and opportunities surrounding that home. Someone could spend half as much somewhere else and have double the commute time, low-grade schools, and unfavorable neighborhoods. So, when spending in Massachusetts, the buyer is also paying for the conveniences the state and area has to offer, giving them more bang for their buck when they make a purchase.