This 4-Bedroom Home in Maine Really Costs Less Than $80,000

In 2024, it is really difficult to find an affordable family home in Maine.  We were already dealing with a housing crisis in the state when, in 2020 and 2021, thousands of people from the East Coast’s major cities decided they wanted to move to our peaceful corner of the country.

Overnight, home prices in much of the state skyrocketed to new highs.  Some homes were going for tens of thousands of dollars over the asking price.  In some cases, these sales were made without the buyer even visiting the property.

Even though the market has cooled a little in the last few years, prices have not really come down.

That is one of the reasons we were so shocked by the price of the four-bedroom home recently listed by Laflin Wolfington Realty.

Located on Main Street in Bingham, the home has four bedroom, 1.5 bathrooms, a dining room, living room, and kitchen.  The home encompasses just under 1,400 square feet and sits on a 5,500 square foot lot.

Take a look:

The home could use a little work, but compared to many homes in the same price range, it is in good shape.  It could make a great family home or, because of where it is located, a perfect rental.

As of January 2024, the price is listed as $79,900.  Assuming you put down the requested $16,000, your monthly payment will be just over $450.  Of course, that includes mortgage principal, interest, taxes, and insurance.

Of the town, the listing says:

Maine's beautiful, historic towns along the Kennebec River, this two story farmhouse offers endless possibilities. There's something for everyone here: kayaking, whitewater rafting, atv/snowmobile trails, guided hunts and so much more for an outdoor enthusiast. The intown location provides easy access to town shops for dining out, antiquing, outdoor theater, and miniature golf.

 

Get more details and schedule a showing on the Laflin Wolfington website.