Mooers Realty Maine Real Estate Blog
Maine Real Estate Property Tipping Point, It Happens.
Maine is rural and the property listings that are off grid, lacking year round access can develop an illness.
For real estate resale, the mostly recreational properties that are for getaway fun have a distinct role or purpose.
But when the Maine real estate owner starts to add more and more improvements, a tipping point can happen in the resale value.
The lack of juice wired to the place, easy or year round access missing can come with the territory.
When attracting a low cost Maine real estate property seeker. Wanting to be unplugged, off the beaten path.
But easy does it. Keep it simple, cheap and don't create a Frankenstein property listing. One that the buyer scratches his head. Beyond the simple cabin in the woods.
Becoming more and more Maine home like.
But still no foundation, property heating, ventilation, etc. Lacking other features the Maine home buyer expects as a given. That a camp property lacks by nature. As the simple camp tries to move up into a home category. If it walks like a duck, well you know. What is it? Or trying to be?
The simple Maine woods or river camp may not gracefully "swan" evolve in to something more. Not going to be a real live Maine home with broad appeal to a major, wider section of the real estate market. Out there circling around the Internet looking for specific property listings to buy.
Because the original use, like an older mobile home with a swanky additon that is not to make the leap.
When the owner tries to make it into something it was not originally designed to be.
Or in a location that offers the other perks, features, conveniences that the real estate buyer expects.
As the Maine real estate property listing price tag increases.
Balance, moderation apply in life. In real estate too so easy does it.
Consideration of if I do this, does it get rewarded in a resale? Unless you the owner of a property in Maine don't care about market resale. And are out to make it a specially feathered nest to meet your own needs, desires. Have not met one of those. Where it's wheel barrows of money to burn, it's not an object.
Folks with money usally have a brain to go with it.
Or possess money it because they don't spend it. Unless holding a lottery ticket, getting an estate windfall inheritance. And it's hang on.
The good fortune quickly cast out into the economy to stimulate it in a myriad of ways and in several directions. When burning a hole in the pocket of the local area's newest celebrity.
Not with any iota of concern on what the real estate market value return is.
Because creature comfort is the key in the customization.
To meet, just be concerned with the owner's needs at the time.
Later on kicking themself could happen.
But for now it is eat, drink and be merry. Good times are here to stay.
Build whatever feels good at the time. Add whatever the wallet or purse strings will allow. Without losing any sleep after Mr Sandman visits about oh oh. Should have done this instead, avoiding doing that expensive project or addtion.
What is that expression about hind sight is 20-20 vision? In life, in real estate should I or wished I didn't.
Tried and tested subdivision plans of housing units that work are used for housing across the nation for a reason too.
That reflect the market needs, buyer preferences. Means build them a certain cookie cutter way. The way a market rewards. Not the personal favorite way a builder would construct his own personal home.
We have to caution new buyers of Maine land to when building to always thinking of property listing resale.
Because someday the property will be on the market for sale. Unless passed on, held by the next level family generation that comes into the picture. As the current owner fades out of it.
The seller of Maine real estate who has a box full of receipts.
Spelling out what every improvement cost and expecting all that money back.
And then some in a resale. Have to point out how the market works and what comes back. That certain, not all improvements add to the greater value of Maine real estate properties.
What was done for the personal enjoyment of the owner. But not a shared improvement that the bulk of the real estate property buying audience peels off more money.
To be in a position to buy what has been created. Or that a bank loan underwriter gives the thumbs up for a mortgage to be bolted on to the property.
With Maine bank loans, there is a check list of must have, don't wants to match up. To check off for the mortgage needed to buy the property for sale in Maine. For the clear to close memo to circulate around to the layers of players.
So the tipping point in a real estate property in Maine. The construction feature improvements, all require thought and understanding of the current market. About what each unique real estate market rewards or discounts. Or considers it a wash in money in but just not causing a profit coming out of the Maine real estate property sale.
MOOERS REALTY 69 North Street Houlton Maine 04730