by Lynn-Nore Chittom

Created on: May 24, 2010   Last Updated: May 25, 2010

While the small towns on Boston's North Shore may look like one quaint, story book village after another, residents pay dearly for those story book lives.  In the midst of this over-inflated economy, Gloucester is one of the best deals around.  

Located a little farther out on the Cape Ann peninsula, real estate becomes a little more affordable to attract bargain hunters willing to pay a little more in gas to get a better deal on their home expenses.  

One money saving approach, especially great for young couples and Gordon College graduates is to look for live-in situations along the coastline. Gloucester, like many towns on the North Shore, has plenty of beach front property and wealthier homes with small guest houses that residents like to make available in exchange for housework, yard work or child care.  These are some of the best deals around. 

Beyond the live-in, Gloucester residents looking to rent can save hundreds off each property when comparing rent prices to more expensive towns such as Peabody or Beverly. Being willing to live in Gloucester can be a money saving decision of its own. \

Using a combination of strategies including constant hunting through the Salem Evening News classifieds and Gordon College boards is a must but word of mouth is still your best bet.  

If you can find someone else who's moving out and you're a great tenant, be sure to throw your name in the hat early to give the land lord the best chance of avoiding losing any money on keeping the apartment empty for any period of time. 

Beyond real estate, Gloucester residents are fortunate to have a Market Basket supermarket right in town.  While residents of many other North Shore towns have to drive to Danvers or out to Rowley to get the best buy on groceries, Gloucester residents can easily save hundreds of dollars a year by shopping at Market Basket rather than Stop 'N Shop or Shaws.  

For other purchases, Gloucester residents can save money by consolidating their shopping trips which take them off of Cape Ann. This includes the malls in Danvers and Peabody as well as Walmart and large box stores BJ's and Costcos.  In this way buying in bulk can save them both time and money. 

Gloucester residents can save on going to the beaches by checking out the beaches which are free to Gloucester residents or go during free times. Wingaersheek Beach, for instance, is usually free after 4pm.

These are just a few ways to help residents of Gloucester, Massachusetts save money while living in Gloucester.

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