Home Buying in Belfast>Question Details

Colin, Home Buyer in Brooklin, ME

I am first time buyer, looking to buy a single family home to be my primary residence but to rent it out most of the time. I am wondering what the

Asked by Colin, Brooklin, ME Sat Dec 5, 2009

summer rental scene and possibly a winter rental scene is like in the Belfast, Maine area. Weekly rates, monthly rates, companys that serve as rental managers, do I need to buy home owners assurance? Thanks,
Colin

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6
Hi Colin, Belfast is indeed a great place for summer rentals and you can check out HomeAway to see some of the examples and the pricing. Most people either rent for the summer or year round not just for the winter. If you purchase a property with either waterviews or intown your chances of renting in the summer are better, Peg Worth
0 votes Thank Flag Link Wed Apr 11, 2012
Hi Colin,,
The Belfast area is a great place to live and offers lots of rental potential. The weekly and monthly rates would vary depending on the location. Waterfront would bring in higher rents especially in the summer months. Let me know what sort of property you are looking for and I can give you a better idea of what it would rent for.
0 votes Thank Flag Link Mon Dec 7, 2009
Al is absolutely correct! A few lenders are offering 2nd homes at the same rate as primary residences today. Let me know Colin...

Blessings!!
Steve Dyer
(207) 975-9330
0 votes Thank Flag Link Sat Dec 5, 2009
It is very possible that it would qualify as a secondary home with the same rates as a primary.
0 votes Thank Flag Link Sat Dec 5, 2009
Hey Colin,

I am an agent here on the MidCoast of Maine! The rental market here is pretty vibrant. There are a lot of Florida residents who maintain a rental unit here on the coast of Maine where they can stay when they are in town. Bill is correct in saying that it could not be considered your primary residence unless you spend a majority of your time in that home. When you are ready for a professional Buyer's Agent up here, give me a call...I would love to work with you to find the perfect property that will be attractive on the rental market. My cell number is (207) 975-9330.

Blessings!!
Steve Dyer
0 votes Thank Flag Link Sat Dec 5, 2009
Colin,

Not sure how one would manage a primary residence that would be rented out most of the time....sounds like it would be a rental or income property not a primary residence.
0 votes Thank Flag Link Sat Dec 5, 2009
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