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BUYING A SECOND HOME FOR THE AVERAGE JOE

Filed Under: Catskill Real Estate Home Ownership | Old Houses and Catskill Farmhouses | Catskill NY Market Trends | Upstate New York Realtors
Written By: d. biddle

 There comes a time in many people’s lives when they would like to have a second home. We typically tend to think that only the very wealthy can afford to buy a second home; however, there are places in beautiful locations where an average joe like you can afford a second home.

You might be asking yourself: why would anyone need a second home? Well, many people invest in a second home as a financial investment or as a get-a-way vacation home. Think about this: it is the middle of June, there are no long weekends for months to come and work is getting under your skin. Luckily for you, you’ve bought a second home in the Catskill Mountains, so you take a few of your vacations days and escape it all. You wake to glorious misty sunrises in the lush New England landscape and sleep with your windows under a blanket of a million stars! Not to mention, you are only miles away from the fantastic nightlife of New York City.

Perhaps you make enough to consider a second home but you also want to invest in a CD or the stock market. You might want to consider a group-buy of a home. If a few people invest in a vacation home, you can treat it like a personal time share, where each of you pick times that you would like to vacation in your home. Everyone will have an equal chance to relax and blow off some steam.

In an area like the Catskill Mountains, an investment in a second home is a very safe bet. Based on trends of catskills real estate, property value will increase on your investment and while it increases you will have a lovely retreat.

The truth is, the average price of a home in America is 250,000.00, but this average does not include the price of a home in a major city or typical vacation spots, where it can be much, much more. Catskill real estate is relatively inexpensive when compared to most resort areas or even a city like Denver, Colorado. A consumer can buy one of many catskill farmhouses for under 225,000.00 or have a large, beautiful home designed to his or her taste for the high 300’s. When you buy a house in upstate New York, you are in the heart of an historic and lovely part of the country that is close to the prime shopping locations of Buffalo, Erie, and Manhattan. Not to mention that in the winter, you are just a car ride away from some of the East Coast’s best ski areas.

Perhaps the best thing about owning a second home in a breath taking location like the Catskill Mountains is that it can serve as a retirement home when you are ready to quit the rat-race and pass away the evenings in your rocking chair while you read or knit next to a beeswax candle. Can’t you just see yourself doing it now?