Boyde’s Crossing – Norfolk, MA – Single Family
A private developer, Powerhead, LLC and officials of the Town of Norfolk have collaborated to provide this affordable housing opportunity in Norfolk. The development is situated on 9.01acres of land off of 106-108 Main Street in Norfolk and will consist of 40 single family homes in the form of condominiums.
10 of the 40 homes have been designated as affordable. The initial sales price is $196,500 for the 2 bedroom homes and $218,400 for three bedroom and the estimated Homeowners Association fee will be $90-$100 monthly.
The homes that will be built will have 2 or 3 bedrooms, 1.5 baths. The new homes will range from approximately 2,100 square feet to 2,300 square feet.
For a relatively small town, Norfolk has some robust municipal services available to residents. Norfolk has its own K-6 Schools and is one of three towns participating in the King Philip Regional School District. The town has its own Police, Fire, and Water departments, as well as a growing Library.
It is estimated that the total monthly cost of your mortgage payment including Principal, Interest, Real Estate Taxes, Private Mortgage Insurance (PMI), Hazard Insurance will be approximately $1,539 for the 2 bedroom homes including a condo fee of $90/month and $1,710 for the 3 bedroom homes including a condo fee of $100/mo. This assumes a 30 year fixed rate mortgage at current rates with a 3% down payment. Your actual down payment can be 3%, of which half (1.5%) must be from the buyers own funds. You cannot rely on this estimated amount, this is only an estimate. Your actual mortgage payment may be different based on the actual interest rate and other factors. You should verify your actual mortgage payment with your lender and or accountant. This monthly mortgage payment is pre-tax and does not include the tax advantage of home ownership. To determine your net expense post tax you should consult with your accountant or tax advisor.