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.
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