Using an IRA to purchase a home is a great alternative to conventional investments, however you cannot personally use the property or make improvements to it if it remains in your retirement account. There are numerous self directed IRA holding companies who specialize in distributing funds and paying bills associated with your real estate, as you cannot directly do so. I've e found the best source for information is through these different holding firms as it is not an oft used strategy and most accountants are not well versed in this technique. That said make sure you accountant is part of the conversation before you pull the trigger.... more
We have been renting a cottage in Bayside in the summer for four years and love the area. Love the cooler summers and fresh air. We are considering retiring to Belfast. The price of the real estate is so tempting, and the housing stock seems excellent--many Victorian and turn-of-the-century houses, which is what I want. I like the little book shops, the quilting and knitting shops, the galleries, Chase's Daily, the farmers market. I am glad there is the Senior College and the art center--I'm sure I'd partake of both. Also glad there's an Episcopal Church.
What would I miss about Boston? Our fabulous public library in Copley Square. The park system, the Emerald Necklace, Jamaica Pond five minutes from our home. Living a car-free life, using public transportation, walking, and Zipcar. Our beautiful condo in a c.1910 building with beautiful woodwork, tall bow-front windows, two walk-in pantries, and the kitchen, bath, and built-in bookcases I designed. The history and architecture of the city. The Copley Square Farmers Market. Several Whole Foods markets in the area. All the colleges and universities and the vast array of adult education opportunities. World-class hospitals. The proximity to the airport for my trips to England. Train service to Rockport (MA), where I used to live. Great historic towns like Concord and Marblehead in the area. There's a lot that I would miss.
I don't need Starbucks, although I wish Belfast had more little cafes. I don't want the NY Times delivered, but I would miss the easy availability in Boston of English interiors magazines, which I like much better than the American ones. Good take-out would be nice; I do like the Rockport Marketplace. I haven't found a good source of croissants in Belfast. The Coop is nice, but it can't touch Whole Foods.
I am torn between Boston and small town life. I lived for ten years in Rockport, MA, so I know what it's like to live in a peaceful, beautiful, seaside New England town. I think I want this again for my retirement years, but I also think the city is a good place for older people because of not needing a car, good elderly services, and hospitals.
What would make it easier to make the transition to Maine? It would be easier if we could buy a cottage without having to sell our Boston condo, so we could try out Maine living without making a total commitment. I know we should visit Maine in other seasons besides summer before we decide. I love winter, so I'm not put off by the idea of the Maine winter, but I don't know what the mood is like in Belfast in the winter. I probably should go to a service at the Episcopal church and see if I think I'd fit in. That's one of the most important questions and hardest to answer ahead of time: would this town feel like a community I could belong to?
I hope this answer isn't too long. It's a very interesting question that you asked.... more
Have seen a lot of homes on the water for under $300 in the area from Edgecomb to Wiscasset. It is rare to find an owner finance. Is that a must? Send me your email address and what you are looking for as far as bedroom/bath. I can then set you up on an automatic notification so that whenever something comes on the market you will be immediately notified.... more
Camden schools are excellent. The high school encompases five towns: Appleton Linconville, Camden, Rockport, & Hope. The elementary & MS are in one or two town district. My 10yrold is in Camden Rockport middle school and he loves his teachers and going to school. I have been impressed with the quality of his education so far (we moved here 3 years ago.)... more
Why rent make a landlord richer? Lease amounts can change over next 40 years vs. locked in rate for a mortgage with increase in value... I would purchase than lease any time. Besides you receive annual tax benefits.
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Here's the place! If you don't want to carry a taser, don't want traffic and to be peaceful living in a place with 11 people per square mile with fewer but friendlier people, welcome to Maine. Maine..4th lowest crime state!... more
Currrently I don't have any single family homes in that area, but if you would like to send me an email with your min requirements, # bedrooms, ect, I would be happy to let you know if something becomes available. Have a great weekend.
Five Star Realty 207 939-6971 cell... more