Maine property on breathtaking coastal plot lists for just $300,000 – can you work out what the catch is?
With its breathtaking ocean views and price tag of less than $300,000, this coastal Maine home would normally be considered a steal.
There is one major drawback to the Harspwell advertisement, however: it only concerns a garage.
But since the property is listed for sale at a price well below the $400,000 of a typical Maine home, Red finit could be the perfect project for a creatively minded buyer.
“We do have someone who is interested in it as a garage,” Shirley Wedell, a real estate agent with Coldwell Banker, told Bangor Daily News.
“The location is great. There’s access to water, which is almost priceless here.”
A Maine home on a beautiful stretch of coastal land has hit the market for $300,000
The 576 square foot two-car garage sits on just under an acre of land and offers direct access to scenic Potts Point
The 53m² garage has space for two cars and is situated on a plot of land of just under an acre. From the garage you have direct access to the picturesque Potts Point.
It offers breathtaking views of Merriconeag Sound and the Atlantic Ocean.
However, the realtors acknowledge that some “creative” solutions to the septic system will be needed.
The asking price for the property is a testament to the current high demand for coastal homes in Maine.
According to Redfin, the average home price in the fishing village of Harpswell has risen 12.5 percent over the past year to $776,500.
On nearby Bailey’s Island, a foreclosure home sold for $375,000.
According to Kevin Johnson, chairman of the board, low inventory combined with high demand has driven locals away.
There are currently only seven properties for sale in the area for under $400,000 and only three rentals, starting at $1,250 per month.
The asking price is significantly lower than the average sales price of homes in the area, $776,500
However, the property is only a garage, which currently has no plumbing system
So far the garage has collected over 2,000 views on the Zillow website in just one week.
Coldwell Banker also has some suggestions on how to best utilize this.
They state that the property can be used for ‘parking cars, hobby building, kayak club or storage’.
“Replace a garage door with a wall of windows and turn it into an art studio with a fantastic view,” the ad reads.