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Northeastern Pennsylvania Scranton, Wilkes-Barre, Pocono area
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Old 04-01-2014, 08:53 AM
 
11 posts, read 53,770 times
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Hi all,

My husband and I are looking into investing in a vacation rental home in the Poconos. I am a NYer with a newborn and are hoping a house in the Poconos could be a future get away spot for summer vacations with the baby and produce residual income for years to come. We vacationed at the Hideout in Lake Ariel before and loved it. Can anyone recommend good communities to invest in? Also, opinions on whether the investment would be profitable is welcomed!
Thanks,
Shay
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Old 04-01-2014, 08:56 AM
 
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if you want a 2nd home to enjoy fine but as an investment, I would not do it for a number of different reasons . Pocono appreciation has been slim at best. .
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Old 04-01-2014, 08:59 AM
 
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^^Ditto. Buy the 2nd home because you want to enjoy it, and hopefully you'll get a return on your investment years from now. I don't think it's going to happen anytime soon, though. The market is just bottoming out here and the recovery is going to be long and slow.

Lake Naomi sounds perfect for what you're looking for in terms of amenities and rental income.
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Old 04-01-2014, 09:02 AM
 
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Thanks for your quick response! My husband seems determined to get a house there. However, I'm very skeptical. I've done some research and found that crime is up in many areas, foreclosures are on the rise and rentals may pose to be a problem. Even with this knowledge, my husband is on the search. Could you share some of your reasons with me?
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Old 04-01-2014, 09:05 AM
 
11 posts, read 53,770 times
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Realistically, I'm okay with buying it as a second home. Right now houses are reasonably priced. I don't know much about how these communities operate. Would I have to hire a management company to maintain the home while we are not vacationing there?
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Old 04-01-2014, 10:38 AM
m61
 
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If you are going to buy close to ski resorts and water parks- those are the good rentals. My neighbors rent their house out in winter- they are always busy. Granted- newer house in good shape. Summers on the lakes are busy too. Just look at appropriate location. We are on the outskirts of condemned here Monroe, next to Big Boulder- excellent location for weekenders from Phillies. Close to roads, Wawa, amish market and very safe. You will not be able to buy a house there for 55 K though- good developments still cost money and nobody is going to rent the ruins. Don''t forget that the nicest Poconos areas like Naomi, Timber Trails, Wagner forest are all in horrifying Tobyhanna township, Monroe county. Sometimes this forum can be extremely misleading. We own vacation house in Camelot Forest, got it last year for less money then it cost 15 years ago to build. Have no regrets so far, think it was the good time to buy.
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Old 04-01-2014, 11:58 AM
 
Location: Swiftwater, PA
13,130 posts, read 10,560,296 times
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Quote:
Originally Posted by Shay11 View Post
Thanks for your quick response! My husband seems determined to get a house there. However, I'm very skeptical. I've done some research and found that crime is up in many areas, foreclosures are on the rise and rentals may pose to be a problem. Even with this knowledge, my husband is on the search. Could you share some of your reasons with me?
The only thing that would bother me is if the home would sit unoccupied for long periods of time and without security. Copper/metal theft has been on the rise in our area. Of course some of the better developments do have security. Also there are good and bad areas in our County. You want piece of mind with your investment. Do your research and good luck!
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Old 04-01-2014, 12:21 PM
 
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If you really mean 'investment' be sure you are realistic (conservative) about cost of ownership, revenue, prospects for appreciation etc. Try to find an owner or two nearby who will discuss/help...maybe engage a local PA accountant or find one near you familiar with this.

The more you will use and enjoy the place the better...
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Old 04-01-2014, 04:18 PM
 
11 posts, read 53,770 times
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Yes, I've read a lot of responses to various topics on here relating to investing or moving to this area. I see crime is up in various areas due to copper theft and break ins are likely with an unguarded house. I intend on having additional survelliance and security. Any thoughts about Pinecrest Lake Community in the Pocono Pines area?
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Old 04-01-2014, 04:23 PM
 
64,529 posts, read 66,075,955 times
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i would stay in pike or wayne county and not bother with monroe county. we had a home in the lake wallenpaupack area.
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