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Moving Relocation Tools > Real Estate Tips by State > Maine Real Estate
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Search Assistant          Moving? Learn About: Real Estate Advertising Mortgage Calculator |
What is the fastest way to get a building permit?The topic of building permits might not seem like major news at first glance but the permit process impacts everything from real estate development to remodeling Maine homes for sale. Stay up to date on building permit information with these permit innovations. Same Day Building Permits: Portland Maine and other areas around the state have recently established same day building permits designed to decrease the cost and causes of delays especially in relation to affordable housing including Maine new homes for sale. Electronic Building Permits: Depending upon your location, online applications and approvals are also available in as little as 45 minutes. Complete details of the construction type, plans and other pertinent information but be uploaded including permits for single family homes, additions, decks, sheds and other renovations. More Real Estate Tips. What else should I do to protect my credit score?If you are like most people searching for Maine new homes or pre-existing Maine homes for sale then chances are you have taken great pains to keep your credit score looking its best. After all, a solid credit score can reduce interest rates and help you save tens of thousands of dollars over the life of a mortgage as well as helping reduce the cost of insuring the home. In addition to paying your bills on time and keeping a good debt to income ratio, you just might need to change your spending habits to stay on the right side of the credit company. In the brave new world of credit scoring, boring old FICO is giving way to Big Brother. According to a lawsuit filed by the FTC last week, subprime credit card company CompuCredit has been charged with deceptive marketing practices for claiming customers can use their credit cards anywhere when in fact, choosing to use a credit card for some purchases may cost you more than you think. According to the lawsuit filed by the FTC, shopping habits are being used to determine credit worthiness. Certain behaviors are considered higher risk or indicative of future spending or other problems. For example, shoppers purchasing goods or services from any of the following could quickly find themselves the recipient of higher rates or less beneficial credit scores:
More Real Estate Tips. Can my HOA do that?Home owner associations or HOA's are a great way to protect property values and find a community that shares your interests and values. In most cases a HOA is established under a set of guidelines and amended by the majority of votes during routine meetings. Unfortunately, as time goes by different communities can take on a life of their own quite different from the original expectations of some buyers. Before purchasing Maine real estate or condominiums, decide if a HOA is right for you. Remember, you are bound to live by the rules governing the real estate development or community even if you don't agree and while the majority usually has the good sense to represent the normal values of a home owner, every once in awhile reports of HOA's passing some strange amendment surface. Here are a few of the more out of the ordinary examples of HOA's gone wild: According to the Tampa Bay Times, some tenants of The Arbors were surprised to receive notification that residents could now dress as nature intended - nude. Yes, clothing is apparently now optional as the community goes back to basics. A quick visit to the website states "You're going to be very comfortable with our dress code"....unless of course, you don't want to bring Grandma to visit Eden. No Smoking - In Your Own House. In one of the more controversial rulings, a Colorado judge upheld a HOA decision to ban smoking - even by residents in their own homes. The Heritage Hills Condo Association ruled smoke from surrounding neighbors presented a nuisance to non-smokers and voters approved the amendment leaving little room for compromise for smokers who had bought real estate under the old guidelines. Kill the Compost. While many HOA's don't allow pets, others have decided the pets can stay but only if they do their business somewhere other than the lawn or common grounds. Although it is a good way to stay in shape, taking a lot of long walks can get tiresome in the rain, sleet and snow. More Real Estate Tips. How much will utilities cost?With gasoline at $4 a gallon and utility bills reaching new heights, it should come as no surprise that potential Maine new home buyers are more conservative than ever with their budget and financial planning. In fact, it is good advice to use a little more caution when it comes to calculating the cost of home ownership when searching for Maine real estate. Use these quick questions and tips to tally the total cost: 1. Obtain a history of fuel and utility bills for the past year. Be sure to compare seasonal variations to avoid unpleasant surprises. Remember, even houses of roughly the same size and construction type can vary significantly on the cost of utilities due to building materials used, surrounding vegetation and local ordinances or ownership of utilities. 2. Compare Costs. The money you save on the purchase price of a home might be displaced by increased cost of utilities and gasoline/transportation expenses. 3. Distance. Calculate the total driving distance for each home and then use the IRS standard mileage rate to compare the full cost of fuel and maintenance for the excess mileage. If two people drive then be sure to double the numbers. Use an average of 5 to 7 years which is the typical length of time most homeowners reside in a single place. 4. Water. Find out what type of water service and rates are charged for each Maine new home or pre-existing Maine homes for sale. Private wells and septic are typically the least expensive but it is important to factor in the cost of repairs and upgrades as well as electricity to run the pump. Private water and sewage charges can easily run over $100 per month but require zero maintenance. 5. Electric or Gas. Many new Maine homes are completely electric while others still use a combination of electricity and gas. Find out the provider for each area to compare the cost per unit. 6. Cable Television, Internet and Communications. Increasingly cable, Internet and telephone charges are considered essentials. Be sure to add the cost into your total calculations. 7. Trash Disposal. The cost of trash and waste disposal is becoming a significant bill in many areas of the country. 8. Adjust. The cost of fuel, electricity, water and trash are increasing at an average rate of 5 to 10 percent while the cost of cable, Internet and communications tend to remain steady. Add at least 5 percent to your calculations for each year. More Real Estate Tips. What is a Superfund site and how can I locate them?When it comes to purchasing Maine real estate safety is always a top priority. In addition to checking the crime rate, traffic reports and list of predators there is one more thing to add to the list: Super Fund sites. The United States Environmental Protection Agency (EPA) maintains a list of toxic sites that are considered the worst in the nation; from years of chemical spills to polluted water or heavy metal build-up, this is one list everyone dreads. To verify the real estate development or Maine real estate you are interested in purchasing isn't near a Superfund site visit: http://www.epa.gov/superfund/sites/npl/me.htm. More Real Estate Tips. What is a Reverse Mortage Real Estate Loan?A reverse mortgage is a type of real estate loan that doesn't require monthly payments while you live in the home. To qualify you must:
Federally insured reverse mortgage loans - These are insured by HUD. To find a participating lender in your area call the Housing Counseling Clearinghouse at 1-800-569-4287. Proprietary reverse mortgage loans - These tend to be more expensive than other form and are owned by private entities. Be sure to carefully review the terms and conditions before signing. Single-purpose reverse mortgage loans - Often the lowest cost types of reverse mortgage loans, these are commonly managed by state, local or not-for-profit entities and may have many restrictions particularly related to income limits or use. To learn more contact the Area Agencies on Aging (AAAs) online at www.eldercare.gov or call Toll Free 1-800-677-1116. More Real Estate Tips. |
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