Your First Step to Homeownership: 2025’s Essential Guide for First-Time Buyers in Maine

By Lisa DiBiase

Buying your first home can feel like stepping into the unknown – exciting, a little overwhelming, but absolutely worth it. It’s not just about the house; it’s about laying a strong foundation for your future. When buying your first home, this isn’t just a transaction – it’s a milestone. Having buyer representation will help to make the process as seamless and rewarding as possible.

Here are a few tips and tricks to help guide you home.

Step One: Know Your Numbers

Before you start house-hunting, it’s essential to know where you stand financially. Understanding your budget range guarantees you’re making decisions with confidence.

• Down Payment Options: You don’t need 20 percent down to get started. Many first-time buyers qualify for programs offering down payments as low as 3 percent, like MaineHousing’s First Home Loan Program. Research your eligibility for grants and first-time homebuyer programs.

• Check Your Credit Score: A strong credit score can lead to better loan rates and terms. If you’re unsure about yours, pull a free credit report and address any errors before applying for pre-approval.

• Pre-Approval Matters: Speaking of pre-approval, getting pre-approved for a mortgage signals to sellers that you are serious about finding a home. It also gives you a clearer understanding of your budget range and what you’re able to afford comfortably.

Step Two: The Value of a Local REALTOR®

A REALTOR® is the key to unlocking the best opportunities. The housing market varies by location, so having a local expert with you from start to finish makes all the difference.

• Neighborhood Insights: Your REALTOR® understands market trends at a hyper-local level, helping you to find hidden gems or avoid overpriced areas. They know the ins and outs of every neighborhood, from the up-and-coming areas to the more established communities that will match your lifestyle and can provide you with invaluable insights into what it is like to live there – schools, amenities, traffic, and even the overall vibe.

• Tailored Recommendations: Everyone’s dream home looks different. Think about your priorities: school districts, walkability, commuting distance, or proximity to parks and shopping centers. Your REALTOR® can help you evaluate all your options and match you to an area that aligns with your priorities.

• Networks and Resources: Your REALTOR® often has a robust network of contacts, from home inspectors to contractors, they can help connect you to the right people through every step of the buying process.

Step Three: Partner with the Right REALTOR®

Buying your first home is easier with the right team by your side. A great REALTOR® is more than a guide – they’re your advocate throughout the entire home buying process. They can provide you with:

• Local Expertise: Our Realtors® know the market inside and out, which is a necessity for helping to find you the best neighborhoods and homes within your budget. Here are some questions you might want to ask when buying your first home.

• Negotiation Skills: From opening the front door the first time to closing, your REALTOR® ensures you’re getting the best value for your budget range.

• Reduces Stress: This is not a relaxing process, but an experienced REALTOR® can help streamline everything. Let them guide you home by handling all the details for a stress-free experience.

Step Four: Leverage First-Time Buyer Resources

There are so many resources designed specifically for the first-time buyer, and knowing how to take advantage of them will save you time and money.

• Grants and Assistance Programs: There are programs available that provide down payment assistance, low-interest loans, or tax benefits.

• Local Lenders: Working with your Realtors® preferred lenders ensures you’re getting the best and most competitive financing and personalized advice.

• Educational Tools: Many programs offer workshops or consultations to help you better understand the buying process.

Step Five: Let Us Guide You Home

When you’ve found the perfect home, it’s time to move forward with confidence. This is where all your research and preparation pays off! From making an offer to closing, your REALTOR® will guide you home.

That first moment you walk into your new home isn’t just about unlocking a door – it’s about starting your next chapter.

Why is 2025 the perfect time to buy?

House hunting is exciting, but it can also be overwhelming and with the ever-evolving housing market, first-time home buyers have more resources and tools than ever before. Whether it’s securing favorable financing to finding the absolute right neighborhood that complements your lifestyle, 2025 is the year to take the leap into homeownership.

As I have said before, please call a local REALTOR® for all your real estate needs no matter how big or small. We are trained professionals here to make your life easier. It›s best to surround yourself with the right team of professionals that can continuously give you the right advice for all your circumstances.

This article was brought to you by Lisa DiBiase, the Broker/Owner for Landing Real Estate. She and her company represent buyers and sellers in the Greater Portland area and surrounding areas. For all your real estate needs contact Lisa at lisa@landinghomesmaine.com or call 207-775-SOLD. <

Smart Home Tech You Can Expect in 2025

By Carrie Colby

Artificial Intelligence (AI) is revolutionizing everyday household tasks, seamlessly integrating into our most common tools and appliances. Through small yet powerful updates, AI enhances convenience, prevents potential disasters, and optimizes home efficiency. Here’s how AI is set to transform home living in 2025.

AI is Making Laundry Day Smarter

AI-powered washing machines and dryers are already making a significant impact. Modern washing machines now use advanced sensors to detect fabric types and load sizes, automatically selecting the optimal cycle and adjusting water usage accordingly. This ensures efficiency, conserves water and minimizes the need for excessive hot water.

Similarly, AI-enabled dryers detect the weight and moisture level of clothes, adjusting drying times and heat settings to prevent over-drying and fabric damage. These intelligent adjustments help save energy and extend the lifespan of clothing, making laundry day more efficient and cost-effective.

AI Can Prevent Costly Home Disasters

One of the most valuable AI-powered smart home innovations is the water flow detector. This device attaches to a home’s main water supply, learning unique water usage patterns and monitoring for anomalies. If it detects unusual flow – often a sign of a leak – it automatically alerts the homeowner and can even shut off the main water supply to prevent damage.

When paired with smart faucets, these systems can also purge pipes to relieve pressure or prevent freezing during cold weather. Given that water damage accounts for roughly a quarter of all homeowner insurance claims, this AI-driven prevention can save thousands of dollars in repairs.

AI Advances in Home Security

AI is revolutionizing home security, offering smarter, more efficient monitoring. Modern smart home cameras now feature object detection and recognition, helping homeowners stay informed about relevant activity while filtering out routine movements, such as a passing pet or family member.

Smart locks are becoming more sophisticated, incorporating tracking technology and built-in screens that function as digital peepholes. Video doorbells are also advancing, with dedicated displays providing instant visual access to visitors, enhancing security and convenience.

AI is Making Homes More Energy-Efficient

Smart thermostats have evolved far beyond simple programmability. Devices like the Google Nest Learning Thermostat now analyze daily habits and automatically adjust temperatures based on user preferences. For instance, if you prefer cooler temperatures at night and warmer conditions during the day while working from home, AI adapts to maintain optimal comfort.

Using geofencing technology, these thermostats can detect when residents leave the house—either through smartphone location tracking or motion sensors—and adjust the temperature accordingly. Additionally, AI-powered thermostats can connect to other smart devices, including HVAC systems, air purifiers, smart fans, and even solar panels, further optimizing energy usage.

Many smart thermostats are also compatible with utility companies’ virtual power plant programs, helping homeowners contribute to energy conservation efforts while lowering electricity costs. Though not the flashiest gadget, a smart thermostat is one of the most impactful AI innovations, reducing energy consumption, cutting utility bills, and shrinking a home’s carbon footprint.

The Future of Smart Homes

AI-powered home technology is making everyday life more convenient, efficient, and secure. From optimizing laundry routines and preventing costly water damage to enhancing security and reducing energy waste, these innovations are shaping the future of smart homes. As AI continues to evolve, we can expect even more intelligent integrations that further streamline household management and improve overall quality of life.

Carrie Colby is a Broker with Allied Real Estate, 909 Roosevelt Trail in Windham. She can be reached at 207-232-5497. <

2025 looks like another solid year for real estate

By Matt Trudel

I am feeling very optimistic about 2025 being a solid year for the Real Estate Market. Prices are holding steady for the most part and we are seeing a slight drop in interest rates, especially with some of the more common loan programs. Some of those programs are FHA, Rural Development, and your Maine Housing First Time Home Buyer programs. 

There are lots of new loan programs out there, so make sure you know what your options are. Hopefully you have an experienced team working with you if you are in the market to purchase a new home. That team should include a REALTOR® with plenty of experience in your area and hopefully years of negotiation strategy. Another important piece is having an experienced mortgage broker who not only knows the different programs available, but more important is being able to put you in the right program to save you as much as possible.

So, if you are thinking about buying a house in 2025, now is really a good time to purchase or should you wait until we get closer to springtime to make that purchase? That is a good question and not always an easy one to answer. Everyone is different and has different goals and motivational factors that need to be considered. Some people really don’t like their current living situation and want to move as soon as possible. Other people may not want to move in the middle of February in zero-degree weather, with ice and snow all around. There are those who also know almost exactly what they are looking for in a house that fits their specific needs.

All the above should probably be looking now and not wait until April to start looking. The reason for looking now is that you just don’t know when that property you are looking for will come on the market for sale. Even the person that doesn’t want to move in the winter should be looking. You can always negotiate out a 90-day closing so you are not moving in the cold and snow, problem solved.

Here is another tip for buyers that might help them when selecting a REALTOR® to be their buyer’s agent. We already know you should have a REALTOR® with a lot of experience and years of working as a real estate agent. When you sit down to talk with your prospective buyer’s agent, they should explain how they plan to be compensated for working for you, and more importantly how much they expect to be compensated.

How much they want to be compensated is where you might find some very big differences. I am not just talking about whether they want 2 percent, 2.5 percent, or 3 percent. Those differences are obvious. The real difference is when you are looking at homes, and the seller is offering out compensation to buyer agents that is greater than what you and your buyer agent agreed that they would work for.

As an example, you decide to hire my agency Five Star Realty to be your buyer’s agent. We both agree that I will work for 2 percent commission on the purchase and hopefully we can get the seller to pay that. We find your house, and the seller is offering out 3 percent commission to buyer agents. That extra 1 percent should go back to you the buyer in the form of a credit toward your closing cost or just a check directly to you. That 1 percent should not go to me or my agency because we agreed I would work for 2 percent, not 2 percent or however much more I can get. Not all real estate companies handle this the same way. I feel if we agreed to a price or percentage then that is what we should stick to.

Sellers should know that scenario very much applies to them as well. When it comes to listing your house for sale you are very much in the driver’s seat. There are vast differences now between agencies and their compensation policies. Sellers can decide how much the listing agency is going to be compensated.

This would generally be the percentage they are going to charge you for listing your home for sale. Then the seller can also decide if they want to offer out any compensation to other agencies who are representing a buyer who wants to purchase the home. That amount or percentage does not have to be the same as the listing percentage. They can also decide not to offer out any compensation. This all plays into the marketing of your home and there are a lot of factors to consider.

My point is to explain that there are a lot of options out there for both buyers and sellers, and you should know what those options are before making any decisions.

This article was written by Matt Trudel, Broker/Owner of Five Star Realty in Windham. For all your buying and selling needs, call him at 207-939-6971or email: matt@fivestarrealtymaine.com <

What Is Home Equity?

By The Libby Starnes Team, Signature Homes Real Estate Group

Home equity is one of the most valuable assets a homeowner can have, yet it’s often misunderstood. Simply put, home equity is the portion of your home that you truly “own”—it’s the difference between the current market value of your home and the balance remaining on your mortgage.

For example, if your home is worth $300,000 and you still owe $200,000 on your mortgage, your home equity is $100,000. This figure represents a powerful financial tool that can grow over time and provide benefits in the future.

How Home Equity Builds

There are two primary ways to build equity in your home:

Paying Down Your Mortgage

Every mortgage payment includes a portion that goes toward the loan’s principal (the amount you originally borrowed). Over time, as you reduce your loan balance, your equity grows. Early on, a larger portion of your payment covers interest, but as your loan progresses, more of each payment goes toward the principal. This gradual shift accelerates equity growth in the later years of your mortgage.

Appreciation (Increasing Property Value)

When your home’s market value increases, so does your equity. Factors such as a strong housing market, local developments, and strategic home renovations can boost your home’s value. For example, if your home appreciates by $50,000 over five years, that increase directly adds to your equity, assuming your mortgage balance remains the same or decreases.

How to Build Home Equity Faster

While equity naturally grows as you pay down your mortgage, there are strategies to speed up the process:

1. Make Extra Mortgage Payments:

By making additional payments toward your loan’s principal, you can reduce the balance faster and build equity more quickly. Even a single extra payment each year can make a significant impact over time. Be sure to specify that any extra payments go toward the principal, not interest.

2. Increase Your Property Value with Renovations:

Strategic home improvements can increase your property’s market value, which, in turn, boosts your equity. Focus on upgrades with high return on investment (ROI), such as updating kitchens or bathrooms, enhancing energy efficiency, or improving curb appeal. Not only do these changes add value to your home, but they also make it more enjoyable to live in.

3. Avoid Tapping Into Your Equity Prematurely:

Taking out home equity loans or lines of credit can reduce the equity you’ve built. Use these options sparingly and only for worthwhile investments, like renovations that further increase your home’s value.

Why Home Equity Matters

Building equity in your home is more than a financial milestone; it’s a foundation for long-term wealth and security. Here’s why it’s essential:

1. Financial Security:

Home equity serves as a safety net. Whether you face unexpected expenses or need to fund a significant project, equity can be a valuable resource, often at lower interest rates than other borrowing options.

2. Leverage for Loans:

Home equity can be used as collateral for a home equity loan or line of credit (HELOC). These tools are ideal for financing home improvements, consolidating high-interest debt, or covering other major expenses.

3. Higher Returns When Selling:

The more equity you have, the larger your profit when selling your home. For instance, if you sell your home for $350,000 and owe $150,000 on your mortgage, the remaining

$200,000—minus selling costs—is yours to reinvest or use as you see fit. Tapping Into Your Home Equity

Once you’ve built a significant amount of equity, you can access it in a few ways:

Home Equity Loans: Borrow a lump sum using your home’s equity as collateral. This option is great for predictable, one-time expenses.

Home Equity Line of Credit (HELOC): A HELOC acts like a credit card, allowing you to borrow as needed up to a set limit. You only pay interest on the amount you use.

Cash-Out Refinancing: Replace your current mortgage with a larger one and pocket the difference, giving you immediate access to your equity while refinancing your loan terms.

The Bottom Line

Building home equity is a powerful way to grow your wealth as a homeowner. Whether you choose to accelerate your equity growth through extra payments and renovations or let it build naturally over time, equity is a financial asset that opens doors to future opportunities.

When managed wisely, home equity can provide financial security, serve as a tool for investment, and help you achieve significant milestones. If you’re interested in learning more about how to maximize your home’s value or build equity faster, the Libby Starnes Team at Signature Homes Real Estate Group is here to guide you every step of the way.

Let us help you make the most of your investment and secure your financial future through smart real estate decisions.

Pamela Starnes and Tiffany Libby are the Libby Starnes Team with Signature Homes Real Estate Group. Call them at 207-838-8051 or 207-712-2424 or visit them online at www.libbystarnesteamhomes.com. <

Winter Blues and How Decorating Your Home Can Help

By Theresa Bouchard

The cold and dark days of winter are here, and many people find themselves feeling a bit down or lacking energy. The phenomenon known as the “winter blues” is a real issue, affecting individuals emotionally, mentally, and even physically. Shorter daylight hours, colder weather, and isolation can lead to feelings of sadness, fatigue, and a general sense of being less motivated.

While there are many ways to address these challenges, one effective and surprisingly accessible way to improve mood during the winter months is through decorating your home. Research has shown that our environment plays a significant role in shaping our emotions, and creating a warm, welcoming, and aesthetically pleasing space can be a powerful tool for combating the winter blues. Here’s why decorating your home can make a big difference in how you feel, and some practical tips for making your home a winter sanctuary.

Your home is your sanctuary, and its appearance can directly affect your mental and emotional state. The science of environmental psychology suggests that we are strongly influenced by the spaces we inhabit. When you spend most of your time in a dreary or cluttered space, it can contribute to feelings of stress, discomfort, and even sadness. On the other hand, decorating with intention can elevate your mood, create a sense of calm, and promote well-being.

During winter, the lack of sunlight and outdoor time can leave you feeling disconnected. But incorporating bright, warm colors and inviting textures into your home can mimic the sun’s positive effects, helping you feel more energized and content. Colors like yellow, orange, and red are known to promote happiness, while calming blues and greens can create a peaceful atmosphere. The key is to design your environment in a way that supports the mood you want to cultivate, whether that’s comfort, joy, or peace.

Here are some tips to help you combat the winter blues:

 Maximize Light
During winter, natural light is limited, so use mirrors and light-colored decor to reflect and amplify available light. Supplement with warm artificial lighting like daylight bulbs or string lights for a cozy atmosphere.

 Add Warm Textures
Incorporate soft, plush items like blankets, pillows, and rugs to make your home feel warm and inviting. Layering textiles adds both comfort and visual interest.

 Use Uplifting Colors
Bright colors like mustard, burnt orange, or soft pink can add warmth and cheer to your space. Earthy tones like green and brown also help bring nature indoors.

 Create a Cozy Atmosphere
Incorporate candles, soft lighting, and cozy blankets into your space. A relaxed, peaceful environment can help you unwind and enjoy winter more.

 Bring Nature Indoors
Indoor plants, pinecones, or branches can add life to your home. Connecting with nature indoors reduces stress and lifts your spirits.

 Infuse Pleasant Scents
Scent plays a big role in mood. Light candles or use essential oils like lavender for calm or citrus for energy. Scents like cinnamon and clove can also create a cozy, wintery atmosphere.

Conclusion

Winter doesn’t have to mean a season of sadness or immobility. By focusing on home decor and creating a space that reflects warmth, comfort, and positivity, you can turn your home into a refuge that helps combat the winter blues. Whether it’s adding a splash of color, surrounding yourself in soft textures, or bringing in the beauty of nature, the act of decorating with intention can profoundly influence how you feel during the colder months. With a little creativity and thoughtful design, your home can become an uplifting retreat where the winter blues have little chance of taking hold.

If you're unsure where to begin with the tips provided, contact TS Staging and Design to help transform your home into a comfy, cozy, and uplifting space that will chase away the winter blues! Their expert team can guide you in creating a warm, inviting environment that reflects your personal style and boosts your mood all season long.

Theresa Bouchard is the owner and designer of TS Staging and Design. If you would like more information regarding staging services, please contact TS Staging and Design at 207-400-9393 or by email at tsstaginganddesign@gmail.com or check us out on Facebook, Instagram or our website at www.tsstaginganddesign.com. We are an award-winning professional home staging company that provides superior customer service and beautiful designs that attract buyers to your home. <

Facts about 1031 Like-Kind Exchanges for Commercial Real Estate

By Larry Eliason

A 1031 like-kind exchange is a tax planning tool for deferring tax on capital gains. You can sell an investment property and reinvest the proceeds in a new property. This essentially postpones the tax liability from the sale.

The term “like-kind” refers to the nature or character of the property. There is a wide variety of property types that you could consider to be like-kind, as long as they qualify as investment type properties.

A good example is an investor who owns a small shopping center in Windham valued at $1 million. The investor has held this rental property for many years and has accumulated substantial appreciation. Now, the investor wants to diversify his/her portfolio, and they’re eyeing a mobile home park in North Windham for $1.5 million as they see considerable upside potential.

The investor decides to utilize the 1031 like-kind exchange. They sell the small shopping center and use the proceeds to acquire the mobile home park. The 1031 like-kind exchange can help defer paying capital gains tax on the sale of the shopping center.

This transaction should qualify as a like-kind exchange because it involves similar types of real estate assets. The net market value increases from one property to the next. The 1031 like-kind exchange allows the investor to seamlessly transfer their real estate investment while deferring tax liabilities.

If you are considering a sale with the intent to use the 1031 like-kind exchange, identify the property you want to sell. This must be a qualified investment property and not your primary residence. Again, personal residences don’t qualify for a 1031 like-kind exchange. The subject properties must be held for investment or used in a trade or business.

Before you sell your property, hire a Qualified Intermediary. This step is instrumental because the IRS doesn’t allow the seller “you” to touch the money between the sale and the purchase of the new property.

Once your property is sold, the proceeds minus any closing costs and debt pay-off go to the Qualified Intermediary. Again, the sale proceeds cannot go to you. If you were to receive the proceeds directly, this would be the basis for a disqualification and result in a tax event that you wanted to avoid in the first place.

You have 45 days from the date of sale to identify up to three potential replacement properties. To fully avoid paying any tax, the net market value and equity of the property acquired must be the same as, or greater than, the property sold. This is regardless of their total value or as many properties as you want, as long as their combined value doesn’t exceed 200 percent of the sold property’s value. You must document this in writing and deliver it to your Qualified Intermediary.

From the date of sale of your initial property, you have 180 days to complete the purchase of any property or properties identified in the previous step. The Qualified Intermediary then transfers the funds from the initial sale to the seller of the replacement property.

When you file your taxes for the year the 1031 like-kind exchange took place, include Form 8824 in your tax return, notifying the IRS of the exchange and informing them what property you sold and what property you purchased as part of the exchange.

The IRS rules for 1031 exchanges are very strict, so be sure to follow them closely. If done correctly, a 1031 like-kind exchange can be a powerful tool for deferring tax and building wealth through additional real estate investment.

The tax return and name appearing on the title of the property being sold must be the same as the tax return and title holder that buys the new property. Today, many properties are bought and sold using LLC’s or Trusts so keep this in mind and be consistent.

No additional value received in an exchange can be allowed that isn’t like-kind property, such as cash, property improvements or debt relief.

When you sell a property as part of a 1031 like-kind exchange, all of the equity you receive from the sold property must be reinvested into the replacement property.

When you sell and buy property as part of a 1031 like-kind exchange, both the sale and purchase need to be arm’s length transactions. Family related transfers can certainly come under a lot of scrutiny by the IRS so consult with your advisors.

A Reverse 1031 like-kind exchange is another option that allows you to purchase your replacement property before selling the property you intend to replace. This has many of the same rules and requirements as a normal exchange.

As always, consult with your professional team such as your Lawyer, Accountant, Banker, Qualified Intermediary and Commercial Broker early in the process so that you may take full advantage of this very useful tax planning and real estate investment tool.

Larry Eliason is a Commercial Broker with Butts Commercial Brokers, 1265 Roosevelt Trail, Raymond. He can be reached at 207-415-2112 or by email at LarryEliasonBCB@gmail.com. Visit www.ButtsCommercialBrokers.com <

Finding Your Maine Paradise: A guide to choosing the perfect recreational land

By Richie Vraux

Maine is a recreational paradise and buying and selling a property can be a complex process, but with the right strategies, you can enhance your property's market potential and achieve a successful sale.

Price it Right

Setting the right price is crucial for attracting buyers. Work with a real estate professional to conduct a comparative market analysis and determine a competitive price based on recent sales of similar properties in your area.

Enhance Curb Appeal

First impressions matter. Maintain the lawn, add fresh plants, and ensure pathways are clear and clean. A well-kept exterior can entice buyers to see what’s inside.

Stage for Success

Staging your home can make a significant difference. Arrange furniture to highlight the best features of each room, remove personal items, and declutter to create a neutral and welcoming environment.

Leverage Online Marketing

Utilize high-quality photos, virtual tours, and detailed descriptions to showcase your home on real estate websites and social media platforms. Engaging content can attract more buyers and generate interest.

Choose the perfect recreational land when buying

When selecting recreational land in Maine, several key factors will influence your decision when buying property.

Here are some handy tips to guide you along the way and assist in avoiding pitfalls.

Recreational Interests

Hunting and Fishing – Identify areas with abundant wildlife populations and suitable habitats. Research local regulations and hunting/fishing seasons.

Boating and Kayaking – Consider access to lakes, rivers, or the coast. Check water depths, navigation hazards, and boating regulations.

Swimming – Look for properties near beaches, ponds, or lakes with safe swimming areas and clean water quality.

Skiing and Snowmobiling – Choose locations with proximity to ski resorts or groomed snowmobile trails. Consider snow accumulation and trail maintenance.

Hiking and Biking – Select properties with access to hiking trails, nature preserves, or scenic bike paths. Evaluate terrain, elevation, and trail conditions.

Land Rights and Access

Public Land Rights – Maine's strong public land rights offer excellent access to recreational areas. Research specific land management policies and regulations.

Easements and Rights of Way – Ensure the property has adequate access for vehicles, boats, or other recreational equipment. Verify any easements or restrictions.

Local Amenities

Convenience – Consider proximity to local amenities like grocery stores, gas stations, restaurants, and medical facilities.

Community – Evaluate the local community's character, amenities, and social activities.

Schools – If you have children, research the quality and accessibility of local schools.

Location

Climate – Consider your preferred climate and weather conditions. Maine offers diverse climates, from coastal to inland.

Privacy – Determine your desired level of privacy and seclusion. Consider factors like neighboring properties and road traffic.

Accessibility – Evaluate access to major highways, airports, and other transportation options.

Commute Time

Work – If you have a daily commute, consider the distance and travel time to your workplace.

Factor in commute times to other important destinations like family, friends, or entertainment venues.

Investment

Budget – Determine your budget for land purchase and ongoing expenses like property taxes, maintenance, and insurance.

Potential Returns – Research property values and market trends in the area. Consider factors like land appreciation potential and future development plans.

Resale Value – Evaluate the property's resale potential, especially if you plan to sell it in the future.

Additional Tips

Consult with Local Experts – Seek advice from real estate agents, land surveyors, and local recreational enthusiasts who are familiar with the area.

Visit the Property – Spend time on the property to assess its suitability for your recreational activities and lifestyle. Consider factors like views, wildlife, and overall atmosphere.

Consider Long-Term Goals – Think about your long-term plans for the property. Will you build a cabin, use it for seasonal recreation, or simply hold it as an investment?

If a property is priced appropriately, it won’t be on the open market for very long. As a result, be very prepared. Unless you are making a cash offer – always, always, always have a pre-qualification letter in hand so it can be presented to the seller’s agent, at the time of the offer. Be aware that if there has been a lot of activity on a property, it has become commonplace that agents are submitting offers well above asking price.

Also, other things you should know about houses and properties include if they are: occupied, vacant, in foreclosure, short-sale or bank owned. You should know as much information as possible about each property before making an appointment. Make sure you tell your real estate professional about your timeframe for buying or selling. If you need advice about choosing which way you should go, feel free to contact me. Richie Vraux is a Real Estate Broker/Realtor with Pine Tree Realty of Maine, 76 Tandberg Trail, Windham. Call him at 207-317-1297 or reach him by email at richardjvraux@gmail.com <