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Lakefront Property: Tips for Second and Vacation Home Buyers

Posted by Veronica On April - 2 - 2014

Relazing on lakefront property If you’re looking for a property on Sebago Lake to use as a second home or a vacation home, you’re not alone. It’s a popular area of the Sebago Lakes Region, and many people flock to it – either for permanent homes or vacation options. Before you decide to buy your dream home there, though, there are a few things you should consider. Making an informed decision is a big part of buying real estate, no matter where you decide to purchase your next place.

First, you need the right Realtor. If you hire someone who doesn’t really know the area, you might miss out on a great deal. You could also end up paying too much, or getting a house that isn’t right for you. There are no guarantees of avoiding any of these things even with the best Realtor on your side, but your risk goes down and your chances of a great outcome go up when you use an agent with experience in the area.

To learn more about buying and selling homes in Maine’s Lake Region area…

 

Second, you’ll want to consider your financing. Unless you’re paying cash, you’ll need a mortgage. Interest rates for second and vacation homes are often different from rates for primary homes, so you’ll want to find out what you really qualify for and how much you’ll have to pay. If you’re not sure which lender to work with, your real estate agent can offer suggestions of lenders in the area who specialize in second and vacation homes.

Third, consider the size and style of the Sebago Lake home you’re thinking of buying. Is it big enough for the family and friends you’ll have visiting you? Is it close enough to the things you’ll need, like the grocery store? Even if you’re a retiree and it’s just going to be you and your spouse using the home, you want to have access to amenities and a little extra space in case you have a guest or want to take up a hobby that requires a little bit of room.

Next, visit the home during different times of the day or night, and on different days of the week. Just because you’re buying your home as a second home or for vacations doesn’t mean all homeowners in the area have done that. You’ll want to know how close your neighbors are, how often they’re there, and how much noise they make, so you can make a good decision about whether the house you’re looking at is the right one for you.

Last, don’t forget to ask questions about things like taxes, insurance, and any other fees that might come with owning the house. If you’re right on the lake, for example, you may need flood insurance. That can be costly, so it’s something you’ll want to know about before you consider buying a particular home. When you work with a good Realtor who knows the Sebago Lakes Region, you’ll get your questions answered and be able to make an informed decision about your second or vacation home.

Contact me, Veronica Schneider, today to learn more about buying and selling homes in Sebago’s Lake Region area.

About the Author

As a broker specializing in multi-units and single family homes in Southern Maine, Veronica Schneider joined the real estate industry in August of 2004 bringing with her over eight years of experience in real estate management. You can find Veronica and Green Tree Realty on Facebook, Twitter, Google+, Pinterest, and LinkedIn.

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As a Portland Maine real estate agency Green Tree Realty specializes in Residential and Investment real estate for southern Maine buyers, sellers and investors looking in the Androscoggin, Cumberland and York counties residential and investment markets.


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Portland, ME 04103
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