Many Maine land buyers seek a secluded lot or a parcel of acreage to call their own. This is a place to relax and enjoy nature at its best without the noise, traffic and stress of daily life in the big city. Some want to hunt, fish or hike their way through the rugged beauty of Maine’s wilderness. Others may wish to grow their own food and raise what they eat. If a rural location with a homestead is what you are looking for, it’s important to understand the laws regarding property ownership in the state of Maine and what that means for your specific needs.
The cost of a Maine land parcel is usually based on its location and its size. Some areas of the state are more remote and therefore tend to be cheaper in price, while others are more urbanized and expensive. The type of soil and water quality are also important factors to consider when buying Maine land. For example, a well drained parcel is less likely to experience soil erosion that can reduce its value over time.
A lot of Maine land is owner financed, and that makes it more affordable for the buyer. The mortgage or promissory note that is attached to the Maine land sale will usually have some rules in it about what the borrower can do on the property. This will usually include a rule that states the property can not be sold off before the land is fully paid for and free of any lien.
If a buyer is planning on living on the Maine land they are purchasing, they should look for an area with good Internet broadband connectivity. This will be important for telecommuting or working from the Maine land.
Another factor to keep in mind when buying Maine land is zoning regulations. It’s important to know what you can do on the property and if there are any restrictions in place that will prevent you from building your dream home on that Maine piece of land. If you are planning on using the Maine land for recreational purposes, make sure to check the local laws regarding hunting and fishing.
Many people that purchase Maine land for sale use it as their vacation retreat, a spot to camp or take long weekend getaways to escape the stress of daily living. Some of these folks have the intention of eventually retiring or relocating from out of state to their piece of paradise in Maine. Other people are simply savvy investors that want to purchase Maine land that is going to appreciate in value over time so they can later sell it.
A lot of Maine land buyers buy land thinking that they will build a home on it at some point in the future, and if they don’t, they can always resell it for more money. Other land buyers are simply looking for a low cost vacation spot to visit and get away from the noise of the big cities.