#2. Surprising Affordability
One might expect buying property on a Maine island is an expensive investment. Diamond Cove, however, is surprisingly affordable – recent sales include a 1064 sqft 3-bedroom, 2 bath home which sold for $259k, while a 2300 sqft 3-bedroom, 2 1/2 bath townhome with finished attic recently sold for $280k. Currently, you can buy a 1350 sqft 3 bedroom, 1 1/2 bath home with patio for $225,000, while a waterfront home is available under $1 million. Monthly association fees run $465-$510/month and include many services and appealing amenities.
Although Diamond Cove has predominately been known as a second home community, the year round population is growing steadily. The Portland market is extending beyond many buyers price range, and for these and other home shoppers, the idea of living on an island only 2 miles from Portland is an enticing alternative to living out in the burbs. Wake to a breathtaking ocean view, enjoy historic charm, and commute by ferry? Sounds like a great, affordable, way of life.
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