COCHESETT ESTATES WEST BRIDGEWATER, MA
A private developer, Cochesett Developers, Inc and officials of the Town of West Bridgewater have collaborated to provide this affordable housing opportunity in West Bridgewater. The development is located on 81-acres of land on both Scotland Street and Maple Street in West Bridgewater and will consist of 92 homes of which 23 will be designated as Affordable
In the first phase of construction, there will be forty-two (42) homes of which eleven (11) of the homes have been designated as affordable. Nine (9) of the homes will be duplex units and two (2) will be single-family homes. PLEASE NOTE: YOU DO NOT GET TO CHOOSE YOUR HOME. YOU WILL SIMPLY BE OFFERED THE NEXT AVAILABLE AFFORDABLE HOME REGARDLESS OF THE STYLE.
The initial sales price for the affordable homes is $259,300 for the 3-bedroom SF homes, $257,400 for the 3-bedroom Condominium units and $230,000 for the 2-bedroom condominium units. The homes will have 1.5 baths and a 1 or 2 car garage. The estimated Homeowners Association fee will be $55 monthly and the condo fee will be $110 monthly. The new homes will range from 1,880 to 2,233 square feet.
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West Bridgewater is a small residential town bordering on the City of Brockton, and located at the junction of Routes 24 and 106. The Town is comfortably settled between Providence and Boston. This access along with availability of land has resulted in increased commercial, warehouse and industrial activity near the highway in this community which was once primarily agricultural. The town does, however, retain working farms which contribute to its scenic character.
It is estimated that the total monthly cost of your mortgage payment including Principal, Interest, Real Estate Taxes, Private Mortgage Insurance (PMI), Hazard Insurance and Homeowners Association will be approximately $1,748. This assumes a 30-year fixed rate mortgage at current Freddie Mac rate of 2.88% plus .25% with a 5% down payment. 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. This monthly mortgage payment is pre-tax and does not include the tax advantage of home ownership. To determine your monthly payment and net expense post tax effect, you should consult with your accountant or tax advisor.
All affordable homes will have a “Deed Restriction” that will be recorded with the mortgage at the time of purchase. This deed restriction in part, limits the amount the home can be resold for or refinanced for and requires that it be resold to another affordable buyer. A summary of the Deed Restriction is included herein.
Application Deadline | TBA
October 12, 2021 at 7pm
Applicants will be notified on how to watch the live lottery drawing via Zoom
Q & A Workshop
VIRTUAL ZOOM PUBLIC Q&A WORKSHOP
August 31, 2021 at 7pm
Meeting ID: 916 2586 8738 Passcode: 833742