62 Burnham Rd

• Age-Related Issues: Built in 1925, the property is nearly a century old, increasing the likelihood of needing significant repairs or replacements to major systems like plumbing, electrical, and roofing. A home of this age could face unforeseen maintenance costs averaging $5,000-$10,000 within the first few years of ownership. • High Total Monthly Ownership Costs: Considering the list price of $685,000, high property taxes, and potential for higher insurance premiums (estimated at $2466/year), the total monthly ownership costs could be substantial. Assuming a 20% down payment and a 7% interest rate, the monthly mortgage payment would be approximately $3,626. Adding property taxes (estimated at $1,000+/month) and insurance, the total monthly cost could range from $4,500 to $5,000 or more. • Limited Information and Unknowns: The lack of information regarding square footage is a significant drawback, making it difficult to assess the value and compare it to other properties. • Risk of Wind Damage: The wind risk is major (6/10) and wind insurance is critical. This will add to the cost of home ownership. • School Ratings: The middle school and high school ratings are relatively low (4/10 and 5/10, respectively), which may deter families who prioritize education. Homes in areas with higher-rated schools often command higher prices and appreciate more quickly.