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Home Buying in Hanover : Real Estate Advice

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Activity 4
Thu Jun 26, 2014
Bill Eckler answered:
Our market has bounced back big the point there is a shortage of resale property in most locations. New construction is taking off as well and we find many buyers resorting to this option because of resale availability. ... more
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Thu Mar 10, 2011
Celina Barton answered:
Hi Robert,
My colleagues have done well answering your question. We have some lovely rustic properties in Norwich VT, which is in the highly sought after Dresden school district. 37 Campbell Flats is a rustic River retreat only 5 miles to town. It has its own 4 acre peninsula of land with a grandfathered footprint so you can fish out your kitchen window. I would be happy to send you more information on this one. The Seller welcomes offers on it. I also have a lovely home overlooking a spring fed pond, but it is in move-in condition (feels brand new) so the only thing rustic about it is the setting! We have many more and you will find if you speak to one of us you will get to know the ins and outs of the towns. We have a lot of good inventory right now so I hope you will find what you are after. Please let me know if you have any questions and like my colleagues posting here, I would be happy to help you secure this property for you. ... more
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Tue Jan 4, 2011
Celina Barton answered:
Hi Deb,

I have just signed on to Trulia and read your question. I also read some of the answers and am amazed at the number of agents NOT from Hanover whom jumped on this question and are trying to convince you to look in other areas.

We moved from DC to the Hanover area because of the schools and quality of life. You can absolutely find a wonderful new(ish)/renovated home for $750k in the Hanover school district. I have a listing in Norwich VT in the Hanover school district , built in 2003 and "lightly" lived in (feels new) listed for $449k. The MLS number is: 4030247 (I am new to Trulia so please excuse me if I am supposed to give you a Trulia number). It has 4 bedrooms although it has a septic permit for only 3 (please let me know if you have questions about this topic, which is very important to understand when buying VT and NH properties). We have other properties as well that come to mind. Please let me know if you would like any more information.

I have 2 kids in the Hanover/Norwich/Lyme school system (shared) and am an active volunteer/coach in the community. My husband and I still feel we are living "the dream"/"a second honeymoon" up here in the Upper Valley. I have lived around the world and I must admit that the Upper Valley is best community I have experienced to raise a family. Money magazine rated Hanover NH as one of the top US cities in which to live. Come see for yourself - it is has the intellectual crackle of Dartmouth, a world renown medical facility/community, a promising entrepreneurial/start-up sector fostered by Tuck, one of the top business schools in the country, and is the cultural hub of our area - not bad combined with the quality of country living.

Here is a live example of our quality of life: We just enjoyed 2 feet of powder in the mountains for skiing with bright blue skies and sunshine over the Holidays. My friends called it "Bain de Soleil" skiing!

My Best,
... more
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Thu Jun 11, 2009
Dane Hahn answered:
Hi Annemarie,

This is not an unusual situation for residents of the US, often parents buy a house as an investment and have their child/student manage the rental of the property. I can't see why it would be any different for an F-1 Visa holder. So it is not legally complicated.

Real estate is probably the best use of funds right now, saving you the cost of a dorm or apartment, and generating income from other students.

Just a couple of suggestions, when you rent to the other students (tenants) set up an account with your bank or Paypal so you can accept a credit card, VISA is the cheapest and most common. Take their parents card as a deposit, then if their rent is late or there are physical damages, you will have recourse, and can charge the credit card.

Buy a property with multiple bedrooms, (3 or 4) but don't rent to more than one person per bedroom. I have had issues with students saying that they were sharing a room and paying their half, but their roommate moved out, so they thought they only owed 1/2 the room rate. This is always an issue. Rent each bedroom to one person.

Don't let them rent just for the school year, make your tenants sign a 12 month lease and pay you even through the summer, but let them sublet the unit to a summer school student if they are not going to be in residence. The primary tenant will be responsible to you for the rent, the sub-let tenant will pay them.

Good luck,

Dane Hahn
... more
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