Real estate in Vermont (USA)

Real estate in Vermont (USA)

Vermont is located in the northeastern part of the United States of America. This is one of the smallest states in terms of area. The state is a tourist destination. The main revenues to the budget come from the recreation of citizens of the country and foreign tourists. In winter, holidays at ski resorts are in great demand. Many hotels, restaurants, and resorts attract up to thirteen million tourists a year. The absence of significant industrial facilities has a positive effect on the environmental situation in the state.

Like the rest of the United States, the Vermont real estate market is currently going through difficult times. Supply exceeds demand. It is thanks to the current situation that purchasing housing in Vermont is now more accessible and profitable than ever. By purchasing a home or condo in the Green Mountain State, you will provide yourself with a wonderful vacation spot. The properties presented for sale will satisfy the most demanding requirements. Even if you're strapped for cash, you can find great value for money.

The Vermont real estate market has a number of features that set it apart from markets in other states. Small hunting lodges, consisting of a couple of rooms and equipped with all necessary amenities, are very popular. Usually, a small plot of land of several acres is also sold along with the house. The cost of such miniature hunting grounds usually does not exceed 80 thousand dollars.

Real estate in Vermont (USA)Real estate in Vermont (USA)photo:

The brochures advertising such real estate describe all the advantages of purchasing . Located in picturesque forest or mountainous areas, these dwellings will help you escape from the bustle of big cities, be in solitude, and enjoy communicating with wild nature.

Another type of real estate — apartments — occupy a small part of the supply on the market. Basically, these are apartments from 80 to 120 square meters. The price depends on the locality in which the house is located, and is, for example, for the state capital, the city of Montpelier, about 1-1.5 thousand dollars per square meter.

Dwellings can be roughly classified into houses for one families and for several families.
Single-family houses are usually up to 200 square meters in size, consisting of 3-4 rooms. The average cost per square meter in large populated areas is about 1200-1500 dollars. As a rule, all houses offered for sale come with a land plot of up to 1 acre. Most properties are in “come and live” condition. Possible sale with furnishings.
The cost of one square meter in large houses designed for one large family or joint living, for example, adult children with their parents, is slightly lower than in houses with a smaller area. The generally accepted world practice is that the larger the area, the cheaper the square meter.

Real estate in Vermont (USA)Real estate in Vermont (USA)photo:

So, for a house with two floors and an area of ​​335 square meters, located in Rutland City, they are currently asking 189 thousand dollars, which is equivalent to one square meter will be 565 dollars.
If you want to realize your own architectural fantasies, you should pay attention to the land plots offered for sale.

Depending on the intended purpose, you can choose a plot within the city, or vice versa, purchase a piece of untouched nature with a small pond or at the foot of the mountains. The price of land depends on many factors, such as: location, availability of infrastructure, total area.

To get a general idea of ​​the price order, here are a few examples. Thus, a plot located in a picturesque area in the Rutland City area, with an area of ​​one acre (40 acres), is being sold for 55 thousand dollars. The plot is ready for development. Permits for water and sewer use have been obtained. It is possible to connect electricity. It is also possible to install a telephone line.
Plots located at a considerable distance from populated areas fall sharply in price. Thus, a one-acre plot in the Springfield area can be purchased for only 5 thousand dollars.

When considering the purchase of a particular property, focus on the form of ownership. It is advisable to purchase real estate for which all loan obligations have been fulfilled and there are no mortgages in banks. Despite the crisis in the construction and real estate sector, experts predict a further rise in land and housing prices. Thanks to low interest rates on loans and various federal programs that encourage the purchase of residential real estate, the present moment is the most favorable for making a purchase. The main thing is not to miss your chance.