This area does very well with vacation rentals. The rental rate is determined primarily by the number of people the house can sleep i.e. 3 bedrooms VS. 4 bedrooms. The other factor is the age of the home and condition along with any amenities you have (outdoor shower, deck/patio, air conditioning, premium cable TV etc.).
Using the assumption that you have an average home in this location, with 3 bedrooms & 2 full baths, basic amenities and parking for 3 cars, I would estimate a ball park weekly rate of $1,750 - $2,400 if you're on the east side of Ridge Road and $1,400 - $1,950 if you're on the west side of Ridge Road. With these rates, I would expect you to book all of July & August and then if you drop the rate for the "shoulder" seasons (May, June and September, October) I would expect you'll rent a fair number of those weeks too.
If you hire a rental manager, you can expect to pay 20% +/- depending on whether they include cleaning, repair services, linens etc.
Hi Maureen, I don't think you need to be worried that there are a number of these cottages currently for sale. Cautious yes, but worried no. This is a fairly large seasonal community (which always means a certain amount of turnover) and it's summer -- a great time of year to be selling a beach area cottage and certainly to purchase one too. The pricing varies because the year these cottages were built varies: some are older, some are newer and also the amenities such as countertops, flooring, number of bedrooms or baths may vary from cottage to cottage. The best thing to do is to contact a real estate professional, set up an appointment to see the cottages first-person and chat with some of the owners in the community. They will give you good feedback about whether they are enjoying living in or owning their cottages. I'm a real estate broker with Coast & Dream Properties located in Wells and I'm available to meet with you and show you these or any other properties in the area. Please give me a call at 207-251-4566.... more
Here in Maine, an owner can ask you for 1 or 2 months security deposit plus 1st month rent. Or some combination of the above such as first, last and one month security.........in other words, three months rent to move in. That is the legal maximum.... more
Find a realtor who has experience with these types of properties. The banks will not sell them directly to a buyer, they always list them with a realtor and since the seller, in this case the bank, pays the realtors' fee you would be well advised to use their services. After all free is good, right?... more
John, are you asking how far to a grocery store if you live in West Bath? If so, that is an "it depends" answer. Parts of West Bath are 3 minutes from the Shaw's in Bath, but there are peninsula's where you could be 20 minutes from the grocery store and WalMart or Merrymeeting Plaza in Brunswick may be closer . Are you looking at a particular home?... more
There are quite a few newer homes in the Bangor area that would suit your needs. If you could give me a few more "must haves" I could narrow it down a bit for you. Please feel free to contact me.
Diana Downs, RealtorÂ®
ERA Dawson Bradford
417 Main St., Bangor, ME 04401
C - 207-735-6988 F - 207-941-9866
If the agent told you it could be rolled into the loan it doesnâ€™t sound like they are qualified to be called a buyerâ€™s rep. Okay, if you get past that issue, you could make payments to the agent but it canâ€™t be secured by the house. Hope this helps, good luck,
NMLS # 6395
Financing Kentucky One Home at a Time... more
Hi Dyzart - To answer that question, you have to put it in context. If you mean assessed value, it would mean that market value matches assessed value on average. Hard to do since the market is constantly fluctuating.
But if you expand the question a bit, I will try to give a more thorough answer. Happy 4th!
Coldwell Banker Yorke Realty
529 US Route 1, Suite 101
York, ME 03909
Office: 207-363-4300 X107 Cell: 207-752-3489
EMail: Margaret@MargaretMitchellRE.com... more