catskills or hudson valley (New York, Warwick: rental, vacation home, to buy)

[tranza]

Hi there,

We are from California and looking to buy small cottage in the upstate NY. We are not very familiar with the area so we need your help. We are looking to rent our future vacation home. So far, we have looked at a lakefront cottage in Millerton, wooded remote cabin in Ellensville, and a small cottage in Woodstock.

We like all three properties, but which area has most potential for growth and appreciation. Lakefront cottage in Millerton is only seasonal. We chose upstate NY because of its relatively close to NYC and its cheaper than CA.

Thanks,

[kathybrj]

I find the Adirondack area to be more picturesque than the Catskills or Hudson valley. But the drive to NYC would be longer.

If you could please explain why you would want a vacation home in an area that has potential for growth? If you are seeking a quiet place I would think you really wouldn't want to have too many people around!

The Woodstock area is nice and it can get busy on nice summer/fall days. It's near to the NYS Thruway for easy access to NYC. They have a cool downtown.

Finding growth in NYS right now can be a difficult endeavor.

[exsci teacher]

My family has had a farm in ellenville area for over 70 years. Since the 60's maybe even the late 50's I have found the area to be very depressed. Aside from the beauty of the area and the talk of casinos that has been going on forever, I do not see much growth for this area. Woodstock is a charming town but not sure about its growth potential. My suggestion is to rent. Tons of places for short term or long term rental. Good luck

[Dreamshot]

Most potential for growth? The Hudson Valley. I have lived in the HV my entire life and can share with you some of the most popular vacation home locations.

My personal favorite:
Cragsmoor, NY - 90 miles N NYC, lots of NYC weekend-escapees ($$$) [Ulster County]

Also:
New Paltz, NY - 80 miles N NYC, gorgeous views of the Catskills to the west [Ulster County]
Northeastern Dutchess County is also worth investigating - Millbrook, Amenia, Wassaic (90 miles N NYC)
Same for western Dutchess County, along the Hudson River - Red Hook, Rhinebeck (90 miles N NYC)

If you prefer a place closer to New York City, check out:
Orange County - Pine Bush, Warwick, Cornwall-on-Hudson, West Point / Storm King
Putnam County - Cold Spring, Garrison
Rockland County - Stony Point

[tranza]

What do you think about margaretville and Millerton. We are looking for vacation property That would be easy rental to weekenders. Thanks

[Dreamshot]

Well, both are WAY out there, so it would certainly be quiet. Probably not a whole heck of a lot to do at either location but the areas (Margaretville - Catskills); (Millerton - Taconics) are both beautiful.

My personal preference would be Millerton as it is in the Taconic Mountains of Northeastern Dutchess County and relatively close to Wassaic and the train service into NYC. You would have to pay the MTA tax as a Dutchess County resident, though.

[tranza]

Thanks. How high is property tax in Dutchess vs Margaretville. We are looking somewhere around 150k. Small cottage 2 bed/2bath under 1500sq ft, but we want at least 1-2 acres of land with a pond or stream. Is this asking too much in those areas mentioned. We can't find anything like this in CA and my wife's family is from LI.

[Dreamshot]

While I don't know the exact numbers, I would guess that Dutchess County carries higher property taxes than that of Margaretville (Delaware County). Don't know if you can find something for that cheap in Dutchess County, but perhaps in Delaware.