May 27, 2022

Jalopy properties offer you dogged purchasers a less expensive way into Maine’s scorching current market

Their listings often lack indoor shots and use optimistic descriptions such as “needs finishing touches” or “land for sale with reward dwelling,” but Maine households priced at $50,000 or a lot less can give a offer to the enterprising consumer.

There are about 30 households in that vary throughout the point out, with some starting off as low as $10,000. These properties are most often neglected, with some needing to be torn down alternatively than remodeled. The increased-priced types usually want perform, but it could not be as substantial.

Some of these houses are in desirable neighborhoods. With the median revenue cost for an present single household house in Maine increasing 22 percent more than the past calendar year to $297,500 in February, these jalopies of the market place may supply a toe into homeownership. But they aren’t for the faint of heart.