Living by the lakeside in some of the most scenic locales is an enticing opportunity for buyers looking for a second home for vacation in Maine. It’s not only relaxing to live in a lakeside shoreline, it also gives you an alternative option to put up your house for rental as the vacation house for the tourists in the picturesque Maine. Not all lakeside properties could reap you the benefits you had imagined.
Keeping in mind your requirements, here are 5 never-miss pointers from Real Estate Portland Maine to help you make a decision on buying a lakeside house in Maine.
1. Location is everything
Just like the coin, there are two sides of the lake property locations. Not all lakeside properties would offer the same level of connectivity and accessibility. Some might be even cut off from the mainland routes. Depending on your choice, you could look for a really isolated lakeside property on an island or between the forking rivers.
If you intend to turn the lakeside house into your vacation pad, opt for a location that is close to basic infrastructures like school, hospital, fire station and airport.
2. Size and profitability
The size of the property should not be the only thing buyers should focus on. Lakeside properties could be huge and sprawling over an area of 10,000 square, but still tagged at a price of US $ 100,000! Find the underlying reasons. It could be due to the tidal encroachment, corrosion from the neighbouring shorelines or infestation by swamps and animals.
Your lakeside property should be big enough to hold your family and friends, but you should look out for elements that could turn your home into rubble in no time.
3. Establish the foundation of the lakeside
It is best to buy a land or a lot from the lakeside associations who have listed the property on best Real Estate Portland Maine portals. Make a little effort in finding the base of your property. Is it on a muddy bottom or a rocky bottom? If you intend to have a dock or a boat house, check for options in the property for anchorage and fishing as well.
4. Get quotation on insurance
The biggest dilemma that most prospective lakeside buyers face is the part where they are left without any finance. The best lakeside communities also carry an undeniable risk of being struck by a catastrophe—landslide, floods, and leaching.
Before getting a quotation on the lakeside house, insist on getting an inspection done by an escrow officer or an insurance provider.
5. Maintenance is pricey and obvious
Since you will be living in a persistently wet neighbourhood, the maintenance costs automatically add up. Only best-listed properties in Real Estate Portland Maine are ranked in the dry and low maintenance localities. Prices of fry properties overlooking quaint lakes and huge ponds are competitively high compared to those that are in the tidal zones.
Make sure you have done your homework on the maintenance part that will arrive with the lakeside house.