Thinking of Moving to Augusta Area - Questions (Winthrop, China: for sale, real estate market)

[chesapeakesim]

Hi everyone,

My wife and I are thinking of moving to the Augusta area. I am originally from around there so know what we are getting into. My dream has always been to live on one of the lakes around there or at least a community near a lake. I was thinking about buying some land and building a house. However, I wanted to get people's thoughts and/or experiences.

I am thinking that we would want to be in one of the surrounding towns like Belgrade (Great Pond) or Manchester/Winthrop (Cobbossee). Being on the lake is probably not an option due to cost, but being in a lake subdivision would probably be our best bet. I found the following piece of land on one of the realtor sites:

0 Loon Call, Belgrade, ME - MLS# 904039 - Land - NewEnglandMoves.com

We live out of state so have not seen it yet or really know what is around there. So here are some of my questions:

1. Does anyone live in or know of this subdivision? If so, what is it like? A pretty broad question I know, but any thoughts are welcome.

2. Any special considerations with building? The thought of building scares me, but then on the other hand being able to get exactly what you want would be ideal.

3. Are there many of these subdivision type places on the lakes? And when I say subdivision, I really mean places that have community land on the lake, not the subdivisions we are used to down here where the lots are a quarter of an acre and all of the houses are the same ).

4. Any thoughts on what the real estate market will be doing in the next year or two? Thoughts on whether this is a fair price?

We will definitely be planning a trip up to look at places in person and get a feel for the areas, but just wanted to get any advice or thoughts from people on the questions above. Thanks in advance for any help you may be able to provide!

[BACClark]

Not a lot of "subdivisions" here in maine. Also check out China Lake and Sheepscott lake, all 15-20 minute easy commute to augusta

[chesapeakesim]

Thanks BACClark, I will check those areas out as well. Am trying to get up there to see places in person in about a month (hopefully there won't be any snow yet ). Am really looking forward to it, Maine is such a beautiful state. It is funny how you don't appreciate it as much growing up, then you move away and it really hits you what you had there.

[wags1970]

I have actually looked at this Loon Call lot. It's a very nice area, quite private and well kept. There are a few houses up for sale in this subdivision, all around the 500k range. So depending on your budget, by the time you had your home built, you'd be right up there as I imagine there are restrictions on the quality of home and size. I didn't look into it any deeper as I couldn't afford to build by the time I bought the land. All the homes in there seems to be on 10 acre lots, so that was the way it was divided, apparently. There aren't a lot of homes in here, leaving plenty of privacy. We drove all the way in and there is a tennis court, and a big lodge that sits right on Great Pond. That would be the shared frontage. I can't imagine it would ever be too crowded if its restricted to the few residents that live in there.

I can't comment on the price, but it has been on the market for a long time. There is not much land for sale up that way for shared waterfront access. The one's that are have ridiculous small lot sizes at ridiculous high prices. I too, cannot afford to live directly on the lake and enjoy acreage at the same time, and there is no way I'd be content if I have to stretch my budget to live on a 1/4 acre lot just to see the lake. Not worth it to me. Real estate seems to be at a standstill up here from the realtors I have spoken with. Even lakefront properties are sitting unsold.

[chesapeakesim]

Thanks so much for that great info! I know what you mean about the prices of lake front real estate for such a small piece of land. It seems that anything on a good sized lake runs $400K+ and is usually a dump, or has virtually no land. That is why this type of land seems so appealing, you get the acreage while at the same time being so close to the water.

It is hard to price Maine real estate, especially on/near the water as there aren't many comps to compare. I have seen some houses on the real estate sites that have sat for over a year. Another place on Great Pond I watched drop about $750K in price, so you really never know.

I looked on Google maps and you are right too, there aren't that many houses on that road. I wonder if the shared area is just for those few houses, or if it is for other roads as well. Guess I need to call the realtor to be sure.

Thanks again for the reply!

[wags1970]

You are welcome. And I am quite sure that the Loon Call area would be restricted to just it's residents. I drove down there on a nice day and there was not a soul in site down by the water. It's quite likely an association where the waterfront property is open only to residents and invited guests and family. good luck on your search. feel free to post again if you have any other questions about the Belgrade area, as that is where I am currently living.

[Maineah]

Try Maranacook Lake.
It's a nice area close to Augusta and the houses in that area seem fairly rerasonable for water front.