Timber Ridge
A private developer, Southeastern Sand and Gravel, Inc. and officials of the Town of Kingston have collaborated to provide this affordable housing opportunity in Kingston. The development is situated on 28-acres of land located on 28-34 South St and will consist of 34 Single Family Homes.
Nine (9) of the homes have been designated as affordable. The initial sales price is $281,300 for the 3 bedroom homes and $304,200 for the 4 bedroom affordable homes and the estimated Homeowners Association fee will be $30 monthly.
The homes that will be built will have 3 or 4 bedrooms, 1.5 baths and a garage. The new homes will range from 1,731 square feet to 2,133 square feet.
Kingston is a coastal community in Southeastern Massachusetts located about 35 miles south of Boston. Residents enjoy Gray’s Beach, the AhDeNah Landing on the Jones River, fishing and shell fishing, as well as hiking on numerous open space properties. Great schools, an active senior center, recreation center and public library round out the fantastic community.
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 $1,951-$2,108. This assumes a 30-year fixed rate mortgage at current Freddie Mac rate of 3.73% 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.
Your down payment can be 3% of which half can be a gift. There are some housing programs such as USDA in which the down payment may be as low as $0.