I would say nearly all of the privately owned vacant lots in subdivisions - do not have a building restriction on time. There are however - with Home Owner Associations By-Laws that will contain the requirements for building a home requires approval of the homes exterior plan, material list. By-Laws may also require certain square footage to be built - attached garage, etc. Before you Buy - make sure your Agent has a copy of the By-Laws for your review. Some are more lenient than others, i.e. planting of trees a certain distance from the road, fences, etc.
If you plan on retirement or a second home in the future - this is a good time to select the property you would like to build on. There are several Lenders / Banks that will also finance vacant property.
I specialize in second home, residential and vacant properties in the Saugatuck, Douglas, Fennville area. There is a good selection of vacant properties currently on the market.... more
First of all.......who said it is a 239,000 home? Did someone just buy it for that amount?
Let's assume it is a recent sale price.
Maple Green is in Saugatuck Township. They have two millage rates: one for primary residence (homestead: approximately 27 mills ) and one for second home and/or investment property (non-homestead: approximately 44 mills). Taxes for primary residence are less than non-homestead. The general rule of thumb is that taxable value is one half the sales price. The taxable value is then multiplied by either the homestead or non-homestead millage rate and this should give you an approximate idea of the current annual tax bill. Just in approximate numbers, you have 3240.00 for homestead and 5280 for non-homestead.
Don't be mislead into thinking that the taxes being paid by a previous owner will be the same if you were to buy it. Also, check with a reliable source to find millage rate for each category. Even within Saugatuck Township there may be a difference depending on the school district.... more
Check with your agent to see a trending analysis of the sold price for homes in the neighborhood where your investment home is located. You need to determine--just as Jeremy alluded to earlier (with his "1% per month" comment)--whether the prices are continuing to march downward and by how much. You also need to be strategic about ordering appraisals--especially as more time passes, because you may have to disclose the results of the latest appraisal.
Keep in mind that the longer you wait--especially in a market where the current market value is declining steadily--the less you'll receive (if you opt to sell in this market). Instead of flipping that property to a retail buyer, as an investor myself I think it might be better for you to rent the property, and hold it or flip that rental to another investor. The property probably will sell for a higher price if it were flipped as a rental.... more
We have a preforming arts center downtown and all summer long we privledged to enjoy broadway productions at a fair price. On summer Fridays the front patio of the center is the home of an organic green market complete with artisan breads, cheeses, fresh produce and flowers. The restaurants in town are fun and electrifying. Some are younger crowds and others are middle aged people. Some local and many from all over the country. In the winter months the locals enjoy a quieter Saugatuck and a beautifully lit for Christmas town with Wow and Sparkle lighting.... more
Mom and pop businesses within the business district. No chain restaurants, several parks, waterfront city, performing arts theatre, historic district, summer green market, casual lifestyle and small town charm.... more
Saugatuck/Douglas has begun the rebound. The bottom was last winter and the spring always brings the buyers who are ready for summer. Rates are great. If you are not buying now you are missing the bottom.... more
People picnic at our three waterfront parks and watch the fireworks on several holiday occasions there. We have art shows throughout the summer months and music every wednesday at the gazebo. You may walk by the dock and come upon a bride and groom stating their vows. We also have two parks in the shopping district. One offers a playground and the other is a sculpture park and shady garden.... more