Hannacroix is a small town near Ravena/Coeymans/Selkirk. About 30 minutes south of Albany. Pretty surrounding countryside. Working-class mostly, salt-of-the-earth types (in other words, good folk!)....it tends to get snubbed a bit when house-hunting w/ some local real estate agents. (now, I only said 'some'...not all RE agents!
)
If you had, say, 10 years or better to watch your investment grow, I think buying in Hannacroix would be a good move. Prices in that area are still very cheap relative to areas 30-45 minutes away in any direction; ie: Slingerlands, New Scotland, Columbia County...even the hilltowns sw of Albany are more expensive. Which leads me to believe the Hannacroix property values can only go up.
NYC people have consistently been migrating further north bit by bit. When I first moved to NYS in 1980, I lived in Dutchess Co. & Westchester Co. had hit it's peak for NYC bedroom commuters/weekend homes. It was starting to spill over into places like Carmel, Putnam, Brewster; and Orange Co. across the river. Then I started selling real estate ( never again, thank you
) & noticed Dutchess was filling up & prices sky-rocketed w/ NYC investors & second-home buyers.
Fast forward since 9/11 and Columbia Co. has just about priced itself out of any market except the uber-rich NYC buyer. There are still bargains, but you pretty much have to know someone or be in the right place at the right time to jump the opportunity. Which brings us to south Albany Co. & Green Co. on the west of the Hudson & Renns. Co. on the east. Which is why I think your purchase in Hannacroix would probably be a wise one. NYC buyers will, IMO, keep looking for their spot in the country; and keep coming further north to find it.
Very important tho: where will your water source come from, and how old is the house? Both those issues could turn your great investment into a huge $$$ loss. Best of luck to you wherever you wind up! Me? I'm in an emotional tug-of-war with wanting to stay in NY for friends, family, & scenery, but wanting to leave because the taxes are draining me. NYS is the WORST state for taxes.
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Hannacroix, NY
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