Author Topic: Relatively "cheap" oceanfront land in Maine?  (Read 1220 times)

Captain Cactus

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Relatively "cheap" oceanfront land in Maine?
« on: August 17, 2016, 07:25:43 PM »
Any Mainers in here?  I'm a native Mainer.  Originally from Damariscotta but now living out of state.  One day I will move home and live in a tiny house near the ocean.  I figure that it's better to purchase the land now (when it's cheaper than 20 years from now) and then move there later. 

Any recommendations for nice places along the coast with relatively cheap oceanfront property?  If so, why do you recommend this place?

Thanks!

bobechs

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Re: Relatively "cheap" oceanfront land in Maine?
« Reply #1 on: August 17, 2016, 08:27:12 PM »
Why are you so sure that land will no longer be sold at comparable prices in the future?

The fact of the matter is that most real estate keeps pace with but does not exceed the general rate of consumer price inflation.  This is especially evident over the decades, rather than looking to the short term volatility of local boom and bust cycles. Also, even unoccupied land will have significant ongoing costs to be paid

Put the money to work in the market now and use it later buy the land you may or may not wind up needing when you actually have an immediate use for it.


waltworks

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Re: Relatively "cheap" oceanfront land in Maine?
« Reply #2 on: August 17, 2016, 09:09:40 PM »
Owning land you don't use is a great way to tie up capital and pay a load of property taxes while you hold onto it. You might luck out and have it worth a fortune, but most likely you'll just match inflation - minus those property taxes and whatever other costs come up.

So basically, don't buy land you won't need for 20 years.

-W

PFHC

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Re: Relatively "cheap" oceanfront land in Maine?
« Reply #3 on: August 17, 2016, 09:34:56 PM »
Mainer here. In fact, I live 1.5 miles from downtown Damariscotta. Small world! Seeing your name makes me wonder if you're mariner?

So, here's my take. It doesn't exist. At least not anywhere that's nice to be. You can get waterfront land for $500/acre WAY downeast. My wife's family is from Addison, and you can find land down in South Addison for a song. Downside is it is 3.78 trillion miles from anywhere. You have to drive an hour just to hit the tiny grocery store in Columbia Falls. That and the road is 3 season. So, unless you drive a tank, you can forget getting to your tiny house in the winter.

That said, you can find lovely houses for great prices in the Newcastle/Damariscotta region. Ours was a deal for $150k in an awesome neighborhood and only a mile from town and a mile from water. There is a bit of land for sale around here, so you could snap up something and build your tiny house there. If you find something, let me know, because I want more than is reasonable to build a tiny house!   Or, just be patient and find something awesome that is already built. Either way is a win.

Next time you come to Damariscotta, PM me. Maybe we can have a mini-MMM meeting over a beer at Schooner Landing. :)


Captain Cactus

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Re: Relatively "cheap" oceanfront land in Maine?
« Reply #4 on: August 19, 2016, 07:11:11 AM »
PFHC, are you from Damariscotta originally?