LOCATION, LOCATION, LOCATION

It's fun to look and to dream. Coast or mountain? Ocean or lake? Maine has it all.

Location will be key whether you're looking to get away from it all or longing to be part of a community, whether buying a home or a seasonal camp

Your location considerations should include:

Work And School

Consider how far you are willing to drive to work in fair weather and in foul. If teleworking is an option, consider internet availability. Look into local school districts: public, private. and homeschooling options.

Extracurriculars

Do you or others in your family have hobbies, activities, or sports you'd like to continue: hiking, skiing, kayaking, sailing? Are you active in the visual, musical, or theatrical arts? Consider what's important to you, and be sure to incorporate proximity to what makes you and yours happy into your search you need or want to be to grocery stores, the dentist, the veterinarian's office, shopping, and other amenities.

WANTS VS. NEEDS

Allow everyone involved in or affected by the home purchasing decision to make a "wish list," and then compare notes Rank your needs and nonnegotiables against the "nice to haves." This becomes your shopping list for your new home

The way real estate "works" in each state varies, and you may not be familiar with or used to Maine's real property laws and conventions versus those in your own state

Disclosures

Nearly all states require that sellers provide information about the conditions of the property being sold in particular, conditions that can affect health and safety but laws vary from state to state with regard to what must legally be disclosed and to what extent. If you are browsing listings and a property catches your eye, reach out to request the disclosures, which will provide more information about the property's condition.

SEASONAL HOMES, OR "CAMPS"

Maine camps can vary in style and appearance from rustic hunting or fishing cabins to resort-style homes. If a property is listed as "seasonal," it is typically not insulated or adequately heated for the winter; the water supply may be limited to warmer months (for example, if it is lake drawn); the septic system may not have been designed or approved for year-round use; and access roads may not be plowed. It may be possible to convert a camp to your forever home with needed updates and code enforcement approval

Scheduling Showings

Not all listings may be immediately available to see Some sellers will ask for 24 hours notice before showings or restrict showings to certain days due to tenants being in place It may be possible to get in to see a property with less notice, but that is not guaranteed

Unorganized Territories

About half of Maine falls under the regulatory authority of the Maine Land Use Planning Commission (LUPC) with regard to zoning and planning. Any home and camp construction or renovation in the unorganized territories falls under LUPC's jurisdiction.

Yes, it's a lot more fun to dive right into looking at properties, but it is to your advantage to begin with a lender, even if you might be a bit intimidated to do so. Your lender — like your Realtor® — is your ally: we are here to help you find your just right home under terms that work for you.

Determine how much house you can afford

Educate you about different kinds of loan options (including a Maine first-time buyer program, which can add $5,000 to your down payment and closing costs, and special programs for teachers, nurses, and first responders)

Advise you on how to repair any errors or issues in your credit reports

Guide you with strategies to increase your credit score before you buy

Work with you and your Realtor® to review information for a home you are considering purchasing to identify and resolve potential issues

Enable you to move quickly to submit your home offer

Know the neighborhood in which you plan to buy and likely also know your Realtor®

Have an understanding of the local market, which means they are more likely to make a loan work for you, especially if you are considering a land purchase or a seasonal property ("camp")

Likely have lower fees, lower rates, and more types of loan products to offer, including programs specific to Maine

More likely to add your loan to its portfolio rather than sell it — along with hundreds of others — to a servicer

Reinvesting your money in the community it serves, the one you are moving to

Likely to become the source for all of your banking needs

PLEASE REACH OUT IF YOU'D LIKE REFERRALS TO SOME LOCAL LENDERS IN MAINE.