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Land buying hints

When you are looking for land to buy, you should know the answers to these basic questions:

  • What is the purpose for the land:
    • primary home site,
    • vacation home,
    • weekend getaway,
    • current recreation to be used for future retirement or . . .
  • Important considerations for finding the right area for you:
    • Waterfront
    • View
    • Distance from stores, hospitals, . . .
    • Activities you want to be near at this location (golf, museums, skiing, lakes, hiking, . . .)
    • How big a lot do you want (more importantly, what do you want to accomplish with the size
  • Important considerations in choose a particular lot:
    • Soils
    • If views are important will you still be able to maintain the view years later
    • What is the cost of bringing utilities to your house site
    • If needed, is owner financing available and what should you look for with owner financing.

In future postings I will attempt to share with you my insights based on dealing with thousands of buyers when they have looked at land with me.  I come to this with my experience as a land developer in Western Maine.

Each post will attempt to cover a finite portion of the decision; thus I will address primary home sites in a separate post from one dealing with land for a vacation home.  Common issues like soils and utilities will be in general topics.

When people come to me to look at land they generally know what their purpose is yet still need to narrow their options down.  Some examples are:

  • Vacation home that will eventually be a retirement home:  The usual two locations that they look at are 
    • Frost Homestead, which is a convenant protected subdivision that is just outside of the village or Norway; thus offering a hospital, chain stores, lakeside park and movie theater. Frost offers beautiful views, a basket ball court and common tennis courts and walking trails.
    • Settler’s Knoll, which is only 8 miles away and is also covenant protected has an entirely different feel.  Located in the quintessential New England town of Waterford, Maine, it feels more remote.
  • If one is looking for a seasonal home the might choose Settler’s Knoll with its access to the water, White Mountain National Forest,  and 3 ski areas (Sunday River, Shawnee Peak and Mount Abram Ski Resort) or our Spruce Mountain lot that has seasonally access but feels VERY remote.

 

New home sales hit five-and-a-half year high in January

According to major publications there has been a major improvement in new home sales.  Click here to see the Reuters article.

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