Real estate in Southern Maine isn’t just about what exists today. It's about what could be. Whether you are buying a parcel of vacant land, planning a new construction project, or evaluating the value of property held in an estate or trust, an accurate appraisal is one of the most important steps in the process.
At LM Appraisals, we work with landowners, developers, estate planners, and homeowners to provide trustworthy, well-supported appraisals for projects that are still in motion. And in a market like Southern Maine — where development pressure, seasonal demand, and regulatory factors vary town to town — knowing what a property is worth means understanding its future, not just its past.
What Makes Vacant Land Appraisals Different
When you buy or sell a home, appraisers can evaluate square footage, improvements, finishes, and comparable sales. But with vacant land, the value isn’t in what is built — it’s in what could be built. This makes the appraisal process more complex and more nuanced.
Factors like zoning, road frontage, lot configuration, proximity to utilities, and permitting potential all play a role. A five-acre wooded lot in Lebanon may be worth more than a similar parcel in Arundel if the development rules are more favorable, or if it's closer to a town center or public services.
Our job is to look beyond the surface. We assess the parcel’s access, usability, highest and best use, and development potential. If the lot is part of an estate, the appraisal becomes part of the legal and financial record that supports fair distribution and tax reporting.
New Construction: Planning for the Future
Appraising a new build is a different challenge altogether. These properties may be under construction or just a set of architectural plans. In either case, the appraisal must estimate what the finished home will be worth once it is completed — and this involves experience, foresight, and an up-to-date knowledge of building costs in your specific area.
We work with lenders, contractors, and buyers to provide new construction appraisals that support loan approval and protect investments. A builder in Hollis may want to confirm that the planned home will appraise high enough to cover construction costs. A buyer working with a custom home contractor in Cape Elizabeth may need a current market valuation based on the proposed plans.
These appraisals often involve additional documentation, such as building permits, contracts, material estimates, and even soil tests, especially when land conditions may affect foundation or septic placement.
Where Vacant Land and New Construction Intersect
Many people begin by purchasing land with the intent to build, which means both types of appraisals are required at different stages. A vacant land appraisal is usually completed before purchase to determine if the price is fair and if the investment makes sense. Later, a new construction appraisal helps ensure the finished home will appraise in line with the expected cost and market value.
This dual-appraisal path is common in Southern Maine, particularly in areas like Berwick, or Shapleigh, where land is still relatively available and custom builds are a common alternative to buying resale. A well-sequenced pair of appraisals ensures that your investment is sound from the first step to the last.
Local Factors That Influence Value
In Southern Maine, local knowledge goes a long way. Some towns offer waterfront access and year-round tourism, which can significantly affect the land’s desirability and appraisal value. Others have more restrictive building codes or seasonal access that may limit development.
For example, a parcel near Kennebunk Pond might command a higher price due to recreational access and waterfront appeal, but the same parcel could face conservation restrictions or septic challenges that affect buildability. These factors do not always show up in public records, which is why appraisers need to dig deeper.
The Human Side of Property Potential
One thing that sets these appraisals apart is the emotional and strategic investment behind them. Whether you're purchasing land to build your family’s dream home, settling a loved one’s estate, or planning to develop a property as a long-term investment, the decisions you make are deeply personal.
At LM Appraisals, we see beyond the land and lumber. We understand the vision behind these transactions. Our role is to provide the data, context, and expert judgment that helps clients make informed decisions with clarity and confidence.
Why It Pays to Work with a Local Expert
Working with a local appraisal firm matters more than ever when you're dealing with land and construction. We know the zoning boards. We’ve seen how property values shift with infrastructure changes, tourism, and new development. And we bring that insight into every appraisal we deliver.
We proudly serve clients throughout York County, Cumberland County, and surrounding areas — delivering detailed, legally sound reports for vacant land, new construction, estate and trust appraisals, and more.
Let us help you make the right decisions today that will shape the value of tomorrow.