Living along the coast of Maine is a dream come true. The smell of saltwater is in the air, and the pine forests rustle beside the wetland preserves. Birds migrate overhead, and you can hear the soft sound of the waves crashing on the beach. This refreshing scene is the epitome of Maine living. Many people come to the area for rest. There are plenty of ways to connect with nature, and the slower pace of life allows people to appreciate the simple things in life.
One of the best places to live in southern Maine is Wells. Wells is just south of Portland and has some of the best sandy beaches in the area. Residents can enjoy a delicious high-end dinner along the waterfront after spending the day chasing the tide and soaking up the sun.
There’s so much to enjoy in Wells, and there’s more than just the beach. Wells is filled with impressive nature preserves, amazing hiking, mountain biking trails, rock faces for climbing, and luxury lake living. In the winter, the fun continues as Maine hosts some of the best mountain resorts in New England. Wells is a year-round paradise and is filled with beautiful homes and excellent schools. There are many luxury options, including beautiful waterfront homes along the ocean, mountain chalets tucked into the forest, and stunning modern construction with all the amenities you might need.
It’s no wonder so many people are thinking of moving to the coast of Maine with all of its amazing amenities. If you’re considering investing in Wells real estate, you might wonder what the actual cost of living here. Our guide will walk you through everything you need to know.
How much does a home cost in Wells?
In the past ten years, the cost of single-family homes in Maine and Wells specifically has been consistently increasing. The Maine Association of Realtors reports the median sale price
for a single-family home in York County, where Wells is located, was $215,000 in 2012. But as of March 2023, the median sale price
was $439,000. This is up from even a year ago when the median sale price for a single-family home in York County was $425,000. With increased demand and rising home prices, investing in Wells real estate should garner a good return.
Utilities are an important cost of living in Maine, and although summers are warm and pleasant, the winters can be cold. It’s important to have good insulation in your home and updated windows that retain heat well. According to SoFi, the financial lender, the average monthly cost of utilities
in Maine is $387 per month as of 2023. Breaking this cost down, we can examine the price for each individual utility. As of 2023, the average cost per month for electricity was $99, $132 for gas, $134 for cable and internet, and $22 for water.
The cost of food in all of New England can be high, but the cost in Maine lies somewhere in the middle. New England tends to have more expensive groceries than other areas of the continental United States. According to SoFi, the average monthly household cost of groceries
in Maine was $375 as of 2023.
For example, the cost of one gallon of milk
in nearby Portland, Maine, is $4.03, according to Numbeo, which collects data on the average costs of different cities. A loaf of bread is $3.50, and a dozen eggs cost $4.60.
The cost of dining out in Wells depends on the restaurant and also the cuisine. New England seafood is popular along the coast of Maine, and there are many delicious seafood shacks and more upscale restaurants in Wells. For example, Billy’s Chowder House is a relaxed, nautical-themed restaurant along the water where a fried shrimp plate costs $25.89, fish and chips cost $18.99, and there are specials throughout the week as well.
Most people living in Wells own their own car, and thus the price of transportation mainly consists of the costs associated with car travel, including gas, insurance, tolls, and parking. According to a study conducted by the Massachusetts Insitute of Technology, the average yearly transportation cost
for one adult with no children was $4,470 as of 2023. For two working adults with two children, the average yearly cost
rose to $11,821.
Amtrak is a great option for those looking to commute to other cities along the coast. The cost of a round-trip ticket from Wells to Boston is only $42 on Amtrak as of 2023. This affordable option is great for those that want to avoid the traffic on Route 1 and have an easy commute into the city. The train ride only takes two hours from Wells to Boston on average.
The annual average salary in Maine depends on what industry you work in. For example, according to a study conducted by the Massachusetts Insitute of Technology, the average yearly salary
for someone working in management was $104,399 as of 2023. The average yearly salary
for someone working in architecture and engineering was $87,144, and for someone working in business and financial operations, the average yearly salary
Ready to find your next home?
If you’re ready to make a move to Wells and find your next home, you’re going to want to work with an amazing broker. In Maine, there’s no better real estate group than Anchor Real Estate
. Anchor real estate has an incredible team that specializes in luxury homes in Maine. They’re ready to work with you to find the perfect home
that fits not only your budget but your dream of living in Maine. Contact them today
to get started. They are happy to answer your questions.