Buying a home can be an exciting and challenging experience, emotionally and financially. To maximize your chances of finding the perfect home at a price that works for you, you just have to determine your priorities, then find a real estate agent with the knowledge and experience to make it all happen. Keep the following tips in mind when you are looking at buying a home in Yarmouth.
Why buy a house in Yarmouth?
Natural beauty and outdoor activities
Yarmouth, Maine, and the surrounding area are home to some of New England’s best scenery and excursions. The area offers some of the state’s most stunning landscapes, from Acadia National Park to the Moody Gulf Islands. Residents love boating, swimming, golfing, and fishing.
Yarmouth also has plenty of hiking trails and local nature preserves, and the region is home to some of New England’s most spectacular beaches. This gorgeous scenery is part of what makes Yarmouth an irresistible place to call home.
Vibrant local community
Yarmouth and the surrounding area also have an amazing local community. From the arts scene to the town’s business community, Yarmouth is a great place to meet new people. At the same time, you can always vacate the premises for a day trip someplace else in New England.
Proximity to Portland and other destinations
Yarmouth is only a short drive from the state capital or Portland, a relatively small city with many things to do. Yarmouth is also only a short drive from the mountains and other recreational opportunities, including the many lakes and forests in the area. Some other close-by destinations include the Canadian border, ski resorts, and plenty of small coastal towns (like Belfast and Freeport) full of character and idyllic scenery.
Best neighborhoods in Yarmouth
What to know about buying a house in Yarmouth
Median house prices
Yarmouth belongs to Cumberland County, where median home prices nearly reached $500,000, comfortably above the state average in 2022. However, Yarmouth is a niche market, making up only about 3% of the population of Cumberland County. Homes here regularly sell for north of $1 million.
A significant advantage to purchasing a more expensive home in the Yarmouth area is what you get for your money. You can expect plenty of acreage, wooded neighborhoods, and even waterfront access in the form of docks when buying a home in Yarmouth.
Closing costs vary depending on the house’s location and your final negotiations with the seller. If you take out a mortgage, you may incur additional costs associated with the application and appraisal. To navigate all financial aspects of your purchase, your best resource is a professional real estate agent you trust. They can ensure you never overpay and always avoid missteps.
Yarmouth has relatively high property taxes compared to other communities in Maine, with a rate of $21.62 per thousand dollars of assessed value. Cumberland County has the highest property taxes in the state. At the same time, Yarmouth homeowners may be eligible for several different exemptions, including homestead, veterans, and blind exemptions. Residents living outside of Yarmouth proper can expect marginally lower taxes.
Find the right agent
*Header photo courtesy of Shutterstock