Real estate is a huge field to make a business out of it. Real Estate Portland Maine has always been here, only it was less acknowledged. With changing times, properties and lands became more of an investment area. People today believe that if you wish to invest your hard-earned money into something real estate is probably the best place to do it. This is because there are hardly any chances that a land property will not make you a profit. They say Investment Real Estate is an IDEAL investment. The IDEAL stands for: Income, Depreciation, Expenses, Appreciation, Leverage. Let’s understand them in brief.
1. Income: Investment in a property will always be a source of income for you. How? You can always put it on rent and receive a monthly payment for as long as you wish. Yes, there could be some rough months when you might not have a tenant but for the rest of the time, it will be a regular source of income. 2. Depreciation: You would think that’s it’s only a loss unless we tell you it’s not. Let us explain you this way. If you buy a car and the moment you drive it, it’s price has been depreciated. But in the case of real estate, the IRS allows you to deduct this amount yearly against your taxes. Cool. Right? 3. Expenses: Real estate comes with a lot of expenses. The cost for utilities, the cost for insurance, the mortgage, and the interest and property taxes you pay. But when it comes to repairing the property or even improving it, all these expenses are deductible. So, you always are on the winning side. 4. Appreciation: Appreciation means the growth of value of the underlying investment. There are higher chances of the prices of real estate properties to be increased because the neighborhood will only grow for the better. 5. Leverage: his is when you are using a small amount of your money to control a much more expensive asset. You are essentially leveraging your down payment and gaining control of an asset that you would normally not be able to purchase without the loan itself. Leverage is much more acceptable in the real estate world and inherently less risky than leverage anywhere like the stock world. One such amazing property to invest is in Portland. At 135 CHURCH RD, PORTLAND, ME 04019, this is an incredible house for a single family. It comprises of 10 rooms with heating systems, tile and wood flooring, internet access, private water, electricity and gas, and a garage. Who wouldn’t want to invest in such a real estate in Portland, right?
0 Comments
There are many things that goes into making house buying a safe and quick affair. One of the many things is the way you screen past the flurry of offers available online and with the reputed Camden Maine Real Estate agents. That is how well has the property been managed in the past. If you are not sure who to ask the right set of questions, or have no clue about the questions themselves, don’t feel disheartened. This article will help you get you to asking the right questions and finding the answers effectively. 1. Has the house been a part of any crime scene before? No buyer wants to be sucked into an ugly criminal crime scene especially when they have not been aware of it. In the very first place, if you intend to buy a home get hold of the past. Ask questions directly to the home seller and the real estate agency that has listed the property. “Have the police ever been on the premises of the property?” “There was a report in the newspaper about crime scene in the neighborhood. Was it about this house?” These are smart ways to do background checks isn’t it? 2. Why are you selling the house now? This is a friendly way to ask the seller about his/her intentions on offering the house. Does the house suffer from any major maintenance issue or does it need any significant repair? Or, is it just about earning profit from the property? Or, it could be a financial burden that requires the seller to immediately sell it off. Whatever that is, as a buyer, you reserve the right to ask direct questions related to the intention of the seller and the real estate agency. 3. Are pets and parties allowed in the neighborhood?
While most parts of Maine are very open to the tourists and foreigners, owning a house is not easy, especially when you have a loud family to deal with. Camden ME Real Estate agencies often recommend the buyers to confirm with the sellers about restrictions related to lifestyle. As pet owners, buyers may not like to do away with their animal friends just because the neighborhood does not want them in the first place. Secondly, there could be restrictions on guests coming from different communities or partying friends that could disturb the peace of the neighborhood. 4. What is the time by which the house will be ready for possession? Depending on the escrow rules in the state, new buyers have to pay up a certain sum of money so that they can check the living standard of the house, utilities fixed, repairs required (if any) and the documentation placed by the seller. It is best to ask the home seller about the exact duration of the period that he/she intends to make the house available for possession, following the signing of the deal. Not that the locals are hell-bent on pushing people away, but for the sake of convenience, it is a good things to ask about these issues in advance. Houses, big or small, inadvertently suffer from issues that could take away your luxury and comfort in minutes. Add to the ordeal, months of agony and days of restlessness that come with a house that keeps featuring some or the other problem. Then you would realize that how important it is to spend few hours scanning the property on offer before placing the deal. That’s why top Bar Harbor Maine Real Estate agencies recommend few quick scans that every buyer should make before committing to buy a house in Maine or elsewhere. Here are top 4 things that you should never miss. 1. Pipeline What is a house with a network of pipelines that carry drinking water and sewage water separately! Where there is a pipe, there is always trouble lingering around it. Pipes made of metals, plastic or any other material are susceptible to cracks and fissures. In cold places in North America, water pipelines burst open due to differential temperatures during the day and night. A house with series of broken pipe incidents won’t see a drastic change with change of hands. That’s why top Bangor ME Real estate agents specifically ask the buyers to scan through the pipes in kitchen, bathrooms, and gardens and to the sewer. 2. The Paint Job How many times has the house been painted and repainted in the past? There is a good chance that the house you are planning to buy has been painted just once. Well, that is not a good thing considering the fact that the pollution and the living microbes wreck the house from outside as well as inside. Top real estate agents always recommend the buyers to look out for paint job facts before negotiations even begin. 3. The age of the roof
The age of the house is a dual phenomenon. It is measured in two ways. First, the age of the first brick placed on the floor. Secondly, it is the age of the roof. In North America, roofs have to face lot of ‘heat’, rain, snow and even hurricanes. In short, they are prone to damage and require adequate maintenance regularly. If you are planning to buy a house with old roof, your budget after shifting to the new property could inflate by up to $10,000 than what it is now in a house with new roof. Why? Well, old roofs obviously require repair. They also tend to be less efficient and significantly affect the energy bills. 4. Pest infestations You don’t want to be living in a house infested by pests, rodents, ants and termites. If your prospective new house is close to the Maine waterfront areas, chances are high that you might have to deal with animals and pests on a regular basis. It is a good idea to scan through the house for pest infestation and make arrangements accordingly. Rest assured, with these scans, you can enjoy your stay comfortably. Maine Property Updates: 3 Things to ask a Portland ME Real Estate Agent to protect your interest27/12/2016 Whether you are a first time house buyer or a prolific realtor/promoter, there are certain things that hold good for both. In a rather sluggish market like Maine where properties are majorly projected as vacation homes, finding the right real estate agent is very important. While most buyers have a hard time finding one real estate agent, the top realtors end up interviewing at least 5 Portland, ME Real Estate agents before zeroing onto one. How do they manage to do that? Well, we cracked the code that prominent real estate buyers follow while choosing the Maine properties. Here are 3 things they ask every Real Estate Portland Maine agents without fail. 1. Ask about their recent clients An average real estate agent in Maine may not have a huge list of clients to reveal. However, don’t get disappointed. Visit the websites of the top Portland ME Real Estate agencies to identify the listed properties. Why ask about the recent clients? Well, that’s the catch in real estate market in Maine. The clients are best references that top Portland ME Real estate agents can possibly show off. The former clients who have bought a property in Maine can tell more about the price trends, their research on the property and the kind of services offered. In short, they have the stories that every prospective buyer wants to listen. 2. Certifications, licenses and credentials
Not everybody can be a legitimate real estate agent in Maine. The basic licensing a Portland ME Real estate needs to have is the Sales Agent License. Licensed agents are also members of the top real estate associations. In case you wish to find the top Portland ME Real Estate agencies, approach the association of real estate developers and agents which is approved by the local governing bodies. You can even find the top agents on their websites with latest contact details. Apart from the Sales Agent tag, look out for the following credentials in the real estate agencies in Maine. # Certified Residential Specialist, exclusive to the residential and domestic markets. # Accredited Buyer’s Representative, representing only the buyers in Maine. # Seniors Real Estate Specialist, helping the prospective buyers who are aged 50 and above. # Real estate specialists for bachelors, single parents and pet owners, dealing in properties in Maine with special provisions for certain category of buyers. # Lakeside Property Buyer’s Representation, representing the prospective buyers looking for house near a water front. # There are many more credentials that Portland ME Real estate agencies may hold. However, the above mentioned ones are benchmarked. 3. Insurance services and conflict management House insurance in Maine is a contemporary trend. Only a handful of Portland ME Real Estate agencies offer Maine home insurance policies with delightful premiums. While house owners insurance is different, top agents also offer condo insurances too. Insurance cost can be compared before hand by comparing the price of the various properties currently listed with the agents. In a nut shell, top agents offer high-grade consulting and advisory services too. Right from the moment you decide to buy a lakeside house to actually going to the site and finding the truth behind the stories posted online, Maine real estate sector is filled with opportunities. Yes, it is complicated, like most property cases are! This is where Real Estate Portland Maine agents with years of experience behind them come handy and prove their efficacy in providing the best waterfront properties. We bring you 4 tips from the professionals who are familiar with the pros and cons of dealing in waterfront properties. 1. The house is what the surroundings make it: Most buyers place their interest in a lakeside property just by looking at the house. Yes, most houses listed in Portland ME Real Estate are beautiful, and come with series of photographs and features posted online to narrate the story. However, living close to a lake has its own set of challenges. For instance, maintaining a swimming pool might seem easy, but in the long run, the pool gets murkier and ridden with algae. While, you can definitely put your head up and think about changing the locality, but you can’t change the house, no matter how much you love it. The tip: Buy a lakeside property that is not just an angelic structure, but is built on a plain, flat lot, and has storm, high-rise water channels to avoid submergence. 2. How far is it from the main roads?
Buying a luxury house, only to find it saddled inside a forested area, where no SUV can move. We call that the worst real estate decision ever. Unless you have your own farmland around your lakeside property, with self-sustained resources, this particular decision will end up taking you to Stone Age in next few months. If the house is half-hour drive from the main road, and takes just the same time to reach the nearest water body, the Portland ME Real Estate agents would recommend you against putting your money there. 3. Will you earn a Home Loan for this? Lakeside properties are unique real estate options, considering the kind of listing we see each day. Month after month, the appreciation is incredible in the market, despite so many units left unsold. Portland ME Real Estate agents recommend that you start hunting for Home the day you make up your mind about buying a lakeside Maine property. As the houses are expensive, and the loans run the risk of falling into mortgage, it is in your interest to take a Home Loan as early as possible. 4. Is the insurance package valid? Insurance, just like the base price, is a costly commodity for the Maine lakeside property buyers. First things first, if the house is well maintained and built to last the onslaught of the harsh Maine weather, your insurance cost is likely to be manageable. However, if the case is otherwise, embrace yourself for a high cost Wind, Fire and Water Insurance, apart from the general building insurance policy. The first thing that makes a home buyer to relinquish the idea of owning a house in Maine is its price. “How much does the house cost?” This is the first straight-forward question from every buyer to Camden Maine Real Estate executives. However, here are some quick insights into how much it actually costs to buy a new house in Maine. We will cover 5 top localities in Maine, and their pricing trends. 1 Harpswell: Harpswell is the most expensive coastal town not only in Maine, but also in the entire USA. A good place to own a house for working professionals, the town doubles up as a handsome summer vacation. Considering the owners, who are part-time residents, the median price for a new house in Harpswell is $335,000 with saleable price of $196 per square feet. 2 Vinalhaven, North Haven: Another top choice for beachside living, Vinalhaven is a small fishing village of farmers and foresters. Once the vacation season ends, the town retains its serene and tranquil landscape. Average listing price of a property in Vinalhaven real estate market is $455,361. This is the place to own a house of your own and join the 86 percent population who have their first homes in the town. Nearby cities around Vinalhaven, worthy of a look are Saint George, Stonington, Islesboro and Swans Island. 3 Old Orchard Beach: A town known for its picturesque locality and homes with pools, Old Orchard Beach is primarily a tourism destination. Median listing price for Old Orchard Beach, ME Real estate is $340k, sold at $204 per square feet. Majority of the homes listed for sale online are located in areas like Saco Avenue, Smithwheel Road, Portland Avenue and Grand Avenue. 4 Kennebunkport:
In recent times, Kennebunkport has risen in the charts of the most prolific real estate buyers looking for properties in secluded beachside localities. The town, known as the Artist’s Paradise, shows a median listing price for real estate properties at $399,000, saleable at $176 per square feet. Best place to buy a house in Kennebunkport are located along East Avenue, Oak Ridge Road, Foxcroft Lane and Limerick Road. 5 Westfield: Westfield in Mars Hill Area is the most preferred location in Maine for its low crime rate. It is a very calm place, and the median pricing for properties usually hover around a pleasing $47,000 with a saleable price of $47 per square feet. Since 2015, the market has witnessed a sluggish growth. In addition to Westfield, you can’t miss the opportunity to own a house in Belmont, where the median pricing for a new house is around #349K with a saleable cost of $151 per square feet. Apart from the base price, there are other pricing factors that one must consider while dealing with a property agent in Maine. The costs may vary from one locality to another, but they can be easily managed by the seller by availing home loans. |
|