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Old 07-03-2008, 03:07 PM
 
1,932 posts, read 4,614,065 times
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Quote:
Originally Posted by forest beekeeper View Post
Really?

Around here apartments go for $300 [without landlord provided heat], and $400 [with provided heat], to as high as $700.

Whereas trailer pads go for $50 to $200.

Though realistically owning your own land is far cheaper. Property taxes on an acre can be as low as $1.05 per acre, depending on the township and their mil rate.


So owning your own pad, or your own house for that matter, on 10 qcres of land might cost you $11 annually.
Where in Maine are the rents for an apartment $400 including heat? Can you tell me what towns these are in and if they are safe apartments (not run down or in bad areas)? PM me if you want to.
Thanks!
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Old 07-03-2008, 03:54 PM
 
Location: Forests of Maine
30,687 posts, read 49,469,539 times
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I moved to Maine in 2005, I rented a 2bdrm apartment in Bradley, that included heat and hot water. The rent was $400.

About three weeks ago, my Dw got onto a kick that we should buy another apartment building, so we have been going through the MLS, meeting Realtors and inspecting properties. We went through two apartment buildings this past weekend, that are on the market [filled with tenants].

Current rent levels in the buildings that we have been looking at are $400 to $550.

Due to the climbing oil prices many landlords are in the process of raising rent levels, so I have seen just this summer rents being raised to as high as $700 for 2bdrms that include heat and hot water.

As far as I know all towns around here rent levels are in this range. An hour North? Yeah. An hour East? Yeah. An hour South? Yeah. We have not really looked to the West much.

I don't know about the Southern half of Maine though.

Now Connecticut is very expensive. Our units there are filled and they are renting for $500 [2bdrm], to $650 [3bdrm], each unit has a one car garage. The renters pay for their own heat.
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Old 07-03-2008, 11:14 PM
 
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$700 for a 2bdrm that includes heat and hot water???? Holy cow, that's cheap!!! More like $900 to 1,200 around here (Portland, Oregon), and heat and water are never included! I'm burning up savings just to keep this place heated (no pun~
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Old 07-04-2008, 05:40 AM
 
1,219 posts, read 3,828,101 times
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Quote:
Originally Posted by forest beekeeper View Post
Now Connecticut is very expensive. Our units there are filled and they are renting for $500 [2bdrm], to $650 [3bdrm], each unit has a one car garage. The renters pay for their own heat.
I'm not sure why you're claiming this-NO WHERE in Connecticut has 3bdrm apts for $650 (unless it is a housing project). Try double that! The 2bdrms are generally over $700, also.

You're misleading other posters.
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Old 07-04-2008, 08:41 AM
 
Location: Forests of Maine
30,687 posts, read 49,469,539 times
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Quote:
Originally Posted by wanderintonc View Post
I'm not sure why you're claiming this-NO WHERE in Connecticut has 3bdrm apts for $650 (unless it is a housing project). Try double that! The 2bdrms are generally over $700, also.

You're misleading other posters.
I have an apartment building in Norwich Ct.

I am a landlord.

I have no 'title 9' renters, I have no renters on any form of rent subsidy.

Currently each my renters are working at either Mohegan Sun/Moon, or at Foxwoods.

Please do not put out such dis-information.
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Old 07-04-2008, 08:50 AM
 
Location: Forests of Maine
30,687 posts, read 49,469,539 times
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Quote:
Originally Posted by SeeBee View Post
$700 for a 2bdrm that includes heat and hot water???? Holy cow, that's cheap!!! More like $900 to 1,200 around here (Portland, Oregon), and heat and water are never included! I'm burning up savings just to keep this place heated (no pun~

Yes, a thriving economy leads to higher wages and higher prices.

A 'depressed' economy leads to lower wages and lower prices.

When comparing Portland Oregon to most anywhere in Maine, this is the biggest difference.

When deciding on where to retire to, we focused on areas with long term depressed economies. Which makes my lower fixed-income to appear as a much larger income.

Any area of cheap housing and low taxes, is better for retirement.
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Old 07-04-2008, 10:37 AM
 
Location: too far from the sea
19,848 posts, read 18,874,270 times
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Now Connecticut is very expensive. Our units there are filled and they are renting for $500 [2bdrm], to $650 [3bdrm], each unit has a one car garage. The renters pay for their own heat.

I almost fell off my chair reading that. More like $1000 + utilities for a one bedroom. If I remember, Norwich is a depressed area so I guess you are right in that case.

For the record, anyone who truly is low income should investigate state subsidized housing for those over age 60 or for HUD, 62, USDA, 62. (I think). The state apartments are run by the local housing authorities in the towns and I know of a few that are very nice. Stay away from the cities. In the small towns you can get a small but nice and safe place for 1/3 of your income and that includes snow removal, lawn mowing, heat and electricity. Often you can walk into town. Vans take people to grocery stores although there are some places that are located right near a grocery store and you can walk there! The only negatives are that you are not allowed to have much money in the bank -- less than $2000 per person, I think, and if you work, your rent goes UP based upon your total earnings BEFORE any deductions. You can own a car but that's about all, no investments or anything.

I was interested in the mobile home parks but after reading this thread I can see that there are problems with the leased land. Also the rules and regulations as well as the monthly fees you are required to pay. More well managed mobile home parks would be a great option for seniors who don't want a house anymore, don't want to live in an apartment, and still want a small yard to call their own. Unfortunately they often have really high lot fees and you can never be sure if your lot won't be sold out from under you. Around here there is a stigma attached to "trailer parks" as well -- such a shame.
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Old 07-04-2008, 11:11 AM
 
4,628 posts, read 9,277,164 times
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Quote:
Originally Posted by in_newengland View Post
Now Connecticut is very expensive. Our units there are filled and they are renting for $500 [2bdrm], to $650 [3bdrm], each unit has a one car garage. The renters pay for their own heat.

For the record, anyone who truly is low income should investigate state subsidized housing for those over age 60 or for HUD, 62, USDA, 62. (I think). The state apartments are run by the local housing authorities in the towns and I know of a few that are very nice. Stay away from the cities. In the small towns you can get a small but nice and safe place for 1/3 of your income and that includes snow removal, lawn mowing, heat and electricity. Often you can walk into town. Vans take people to grocery stores although there are some places that are located right near a grocery store and you can walk there! The only negatives are that you are not allowed to have much money in the bank -- less than $2000 per person, I think, and if you work, your rent goes UP based upon your total earnings BEFORE any deductions. You can own a car but that's about all, no investments or anything.

I was interested in the mobile home parks but after reading this thread I can see that there are problems with the leased land. Also the rules and regulations as well as the monthly fees you are required to pay. More well managed mobile home parks would be a great option for seniors who don't want a house anymore, don't want to live in an apartment, and still want a small yard to call their own. Unfortunately they often have really high lot fees and you can never be sure if your lot won't be sold out from under you. Around here there is a stigma attached to "trailer parks" as well -- such a shame.
After seeing the senior mobile home debacle here in Oregon, I would never, ever suggest to anyone to rent a lot. Yes, it's different in other states, but overall it's a tremendously bad idea.

Here, even in the 'upscale' manufactured home parks, most of the people were/are on fixed incomes, and had spent well over $100,000 for their home. I checked into these places before I retired. Several parks were sold off to developers of single family homes, leaving the seniors nowhere to go. Oh, after much bad press, an owner of several parks in the metro area (West Linn and Beaverton), generously gave the residents 60 days to move and $5,000.00 each.

If people can possibly manage, buy dirt (as a friend put it!) and put up a tent. I know that's not feasible for a lot of folks, but to me that seems like a better option than renting land for a mobile home.
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Old 07-04-2008, 12:00 PM
 
Location: Forests of Maine
30,687 posts, read 49,469,539 times
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We bought that property in Norwich in 1991, we did have state subsidized renters.

But then a few years later, I transferred away and let a manager make those decisions.

We returned stateside in 2001, when I went on pension, and we lived in the building for a few years. We fixed a bunch of things that the former manager had not fixed, and we raised the rent levels a bit.

Our current rent levels for our rentals in Norwich are set at about 80% of the city average. Rent set at just a tad lower then neighborhood average, gets us long-term renters. So we experience a lower vacancy rate, then do the neighboring rentals.

There certainly are apartments renting for higher levels then mine, in Norwich. There are also other apartments that rent for less. As I said our rent levels are set as a comparison to the neighborhood average.

Each apartment has it's own one car garage, and they pay for their own heat.

I pay for water / sewer, they pay for their electric and natural gas.
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Old 07-04-2008, 05:07 PM
 
26,591 posts, read 52,323,935 times
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Lower Rents are always around... many Mom and Pop owners will accept less than market rent for someone they can work with and stays long term.

I have residents that have been with me for more than 18 years... to me that is long term...

My least expensive home is a 2 bedroom house for $725 and haven't raised the rent in 5 years because the tenant is wonderful...

I figure a property manager could easily add a couple of hundred dollars of overhead for management and paying for repairs that I don't have to deal with...

By the Way, the house is in the SF Bay Area...
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