Are these single-family homes, or are they condos?
The homes at Ridgewood offer the benefits of both. Structurally, most designs are stand-alone homes. But the legal structure is a condominium where common-area services and upkeep costs are shared among community members. Ridgewood’s covenants are designed to ensure the property and homes are well maintained and Ridgewood remains a quiet, safe, and enjoyable place to live. At the same time, the stand-alone homes offer privacy, and the covenants allow enough flexibility to accommodate your individual lifestyle — whether it’s maintaining a private yard or taking advantage of full-service grounds maintenance.
Ridgewood is a large project. How can I be sure it will be completed?
Ridgewood’s developers have the financial resources to complete the project and are fully committed to its success. All the major infrastructure has now been completed with financial guarantees in place for the final touches, and over 30+ homes have been completed and sold. All remaining home sites are ready for construction.
How much are condominium fees, and what do they include?
Condominium fees are $189/month and include grounds maintenance; road plowing and maintenance; shoveling and sanding walkways; common insurance; common utilities; management; and capital reserves.
The homes are beautiful — are they expensive?
Starting at $399,000, Ridgewood home prices are very competitive, considering their high-quality construction and low cost of ownership. Falmouth also has one of the lowest property tax rates in Greater Portland, and when combined with low condo fees, the Ridgewood cost of ownership compares very favorably with other high-end communities.
What am I buying — what exactly does my home include?
Unlike many condominiums, where your unit includes only the space inside your walls, at Ridgewood you own the entire home, from foundation to roof, to provide you with the ownership and privacy of a stand-alone home, but with the convenience of shared grounds maintenance.
Can I have a yard?
Yes. While you may opt to take full advantage of grounds maintenance services, you can also choose to have a private yard in which you maintain your own gardens and plantings.
Can I have pets?
Yes. You may keep pets, as long as you follow the rules and regulations designed to respect the neighborhood’s other residents. Because Ridgewood is surrounded by conservation land with a diverse ecology, cats must be kept as indoor pets to protect critical habitats.
I hear you can’t get financing for condos — is that true?
That is not true in the case of Ridgewood. While many condominiums do not qualify for conventional mortgages or require special project approvals, Ridgewood is different because it’s classified as a “site condominium” with homes that are stand-alone structures. This means you can obtain a government-insured, fixed-rate or floating-rate conventional loan to pay for a Ridgewood home, just like you can with a single-family home. Ridgewood also has relationships with several local banks that will provide mortgages to qualified buyers, or you can work through any lender you prefer. For more information on financing options, please contact Ridgewood’s listing broker.
Can I buy a home anywhere on the property?
Yes, and with Phase 2 now complete you have a wide selection of options to meet your needs, whether it is the privacy of a wooded back yard or the tranquility of a pond-side home. Please see Site Map & Lot Selection for the latest availability.
What maintenance is included in my condominium dues?
Your condominium dues cover all the maintenance costs of the road, grounds, and common systems, as well as common insurance and management and replacement reserves. Owners are responsible for the maintenance of their own homes. As a service to residents, the Association through its management company, will arrange for qualified contractors to perform maintenance for your home — from window washing to roof repairs — at your request. You will be charged for any maintenance on your own home, but you will not be responsible for maintenance of other homes, as is often the case with condominium associations.
Is Ridgewood an age-restricted community?
Ridgewood is not age-restricted. The project is designed to meet the needs of buyers who want privacy but appreciate the convenience of condominium living. The condominium association has established rules and regulations to ensure that Ridgewood is a peaceful and relaxing community with ample opportunity for neighborly exchange while allowing for personal privacy and freedom.