Choice between Bangor and Rockland (Portland, Orono: real estate market, 2015, renting)

[New place]

I have been looking in Portland for homes and the real estate market is insane Well-priced homes going under contract in 24 hrs.

That being said - I am opening up my search to include Bangor and Rockland - since I can buy a comparable house for $ 100k less than in Portland.

Can some people share their thoughts on either town and/or both? The good and bad of both? As far as work - I will do freelance writing and look to supplement my income with part-time job. So part-time jobs (economy year round,) friendliness of people, safety, and dog-friendliness! (I know both are safe but Bangor does have a higher-than- U.S. average for personal property crime.) If you were going to move to Bangor or Rockland - which one would you choose and why?

Thanks!

[Brodels]

I wouldn't be worried about safety in either place. There is some crime, but what you experience day-to-day will be about the same in either place.

I think it really comes down to what you value most.

Benefits of Rockland:

- It's on the coast, and if you like to be on or near the water, it can't be beat.
- It's closer to Portland, and a little bit closer to Boston, so if doing city things is important to you, Rockland may be a better choice.
- The downtown isn't huge, but it somewhat interesting without being overrun with touristy-stuff.
- You're close to Camden and Rockport, which can be touristy, but also interesting.
- It's smaller than Bangor, so if you would like to live where there are fewer people, it may be a better option. There are a lot of people passing through in the summer, but there isn't very much traffic in the winter.

Benefits of Bangor:

- It is bigger than Rockland, so if amenities are important, Bangor wins. More food options, more culture options, more event options.
- Bangor punches above its weight to some extent with a D1 university and all that goes along with that, an airport with regular commercial flights, a new arena, a waterfront concert venue, etc.
- If finding part-time, year-round work is important, you will have many more options in Bangor. There won't really be much of a seasonal change in employment and there are just more opportunities.
- While you'll have to drive a bit to get to the coast, the outdoor options are quite diverse: there are many lakes nearby, it is more centrally located for accessing the more spectacular Maine hikes, and you can be in the deep woods pretty quickly.
- Bangor has two hospitals, and one is a major medical center that can meet just about any need you may have except for organ transplantation.

People will probably be equally friendly in both places, and both are dog friendly.

I really like being close to the coast, so that might swing things toward Rockland for me, but what you value may be different. I live close to Bangor and enjoy being in a community that is big enough to have most of what I need, but not so big that traffic and other city problems are much of a concern.

[New place]

Thank you Brodels! That is incredibly good information. I feel better that I could be happy in either from what you've described.

Do you have an opinion on which may be a better investment? I ask because I am buying a house - and if after living there a year or two - I find a town that I like even better - I'd love the option of selling it without losing my shirt. I know you cannot predict the future - but if you were a betting person - would you put your money on Rockland or Bangor in terms of future growth/demand?

Thank you!

[as111]

Originally Posted by New place

I have been looking in Portland for homes and the real estate market is insane Well-priced homes going under contract in 24 hrs.

That being said - I am opening up my search to include Bangor and Rockland - since I can buy a comparable house for $ 100k less than in Portland.

Can some people share their thoughts on either town and/or both? The good and bad of both? As far as work - I will do freelance writing and look to supplement my income with part-time job. So part-time jobs (economy year round,) friendliness of people, safety, and dog-friendliness! (I know both are safe but Bangor does have a higher-than- U.S. average for personal property crime.) If you were going to move to Bangor or Rockland - which one would you choose and why?

Thanks!

If you end up choosing Bangor, I'd recommend looking in Hermon. The real estate market is booming and it's one of the fastest growing towns in Maine. If everything keeps going the way it is, you could buy a home at a reasonable price and resell it 5-10 years later and make a big profit.

The town itself is kind of boring. There's more trees than people but it's 10 minutes away from Bangor.

[Brodels]

I agree about Hermon - that would be a good place to buy. I don't think that Greater Bangor would necessarily be a bad option, but if looking at it from an investment perspective, I might choose the midcoast right now.

[New place]

Thanks AS111 and Brodels - will look around Hermon. Is it booming from people moving in . . and any idea from where?

[as111]

Originally Posted by New place

Thanks AS111 and Brodels - will look around Hermon. Is it booming from people moving in . . and any idea from where?

Yes, it's from more people moving in. As to where they're coming from, I can't say for certain but I think the increasing drug and crime problem in Bangor probably has an influence.

"In the Bangor area, population gains in the suburbs of Hermon, Ellsworth and Orono were largely offset by losses in the cities of Bangor and Brewer, which together lost an estimated 898 residents in the 2010-2015 period"

Interactive: Population change in Maine towns, 2010-2015 - Portland Press Herald

Rent in Bangor has also increased in the last several years. I don't have any data to prove this- just an observation from craigslist ads.

[LordSquidworth]

Originally Posted by New place

Thank you Brodels! That is incredibly good information. I feel better that I could be happy in either from what you've described.

Do you have an opinion on which may be a better investment? I ask because I am buying a house - and if after living there a year or two - I find a town that I like even better - I'd love the option of selling it without losing my shirt. I know you cannot predict the future - but if you were a betting person - would you put your money on Rockland or Bangor in terms of future growth/demand?

Thank you!

If you're looking at a 1-2 year time frame, honestly, rent. I don't think you'll make money on either Bangor or Rockland over such a short period.

[New place]

LordSquidworth - I am not trying to make money on the home - just doing a worst case scenario in which case I do not care for the area. It would be nice to know that the area is healthy/growing so if I had to - I could sell my house and not get clobbered with a big loss. Breaking even would still put me ahead of renting. I also have 6 rescue animals so renting is difficult at best and not what I want to do.

[WhoFanMe]

Originally Posted by New place

LordSquidworth - I am not trying to make money on the home - just doing a worst case scenario in which case I do not care for the area. It would be nice to know that the area is healthy/growing so if I had to - I could sell my house and not get clobbered with a big loss. Breaking even would still put me ahead of renting. I also have 6 rescue animals so renting is difficult at best and not what I want to do.

Your selling expenses are much higher than your buying expenses, I always recommend that a buyer not buy anything if they can't stay for at least 5 years and even then you have to time it right and buy in an area of rapid appreciation. Todays' HGTV-watching buyer expects the house they buy to be in top condition, which will add to your selling expenses if you buy a property that needs cosmetics or structural repairs.