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My husband and I, Manhattanites, are looking into purchasing a small weekend getaway (or perhaps permanent home) within 2 hours of NYC. We'd love to be near a charming town with a good local restaurant and bar or two (local spots being key...not full of chains and walmart!), but would love to have a little bit of land too. Since we can't really afford to buy in the city, this will be an investment, but we are open to spending more and commuting to work in NYC for the right place. We don't want to spend more than 125K (if we are going to keep a place in NYC), because we'd really love to hook a good deal and spruce the place up over time. I know some people hate that, but it's something we'd love to do. With that said, it needs to be in living condition. Anyone have any thoughts on towns/areas we might be interested in? Places we should AVOID would also be useful.
The farther you get from NYC, the cheaper it becomes. In Rhinebeck, it's not clear how good a place with acreage you could get for only $125K. However, as you get to the northern and western Catskills (Stamford, Walton, Delhi area, etc.), you might find an acceptable place with some acreage, since land is much cheaper out there. Of course, it'll take 3-4 hours to get there from NYC, so it might be more of a weekend place.
If a couple of acres is enough, maybe you can find something decent in the Margaretville, or the eastern Catskills area for $125K, which might be only 3 hours (or less) from NYC.
BTW, there's definitely no Walmart, Home Depot, etc. anywhere near Maragretville, although there is a True Value hardware store nearby (10 miles).
When we were looking for something similar several years ago it seemed one had to get at least 2.5 hours from the city to find the kind of affordability and space you're looking for. And at $125k you're looking at a place that will need lots of work, though may be 'habitable' in the meantime.
A couple things to consider- the area to the west and somewhat to the north of the Catskills is targeted for natural gas 'development.' Personally I think it is an inevitability, and will mean long-term damage for some short term financial gain to the area. I think in most cases it is only parcels of 10+ acres that get offered leases, but if you start looking be certain a lease has not already been signed on a property you are interested in.
If you work a regular 9-5, Monday through Friday job in the city carefully think about how much time you're really willing to spend in the car. A '2.5 hour drive' can very easily become a 4.5 hour drive out on a Friday night or in on a Sunday night.
This is the time of year to do some looking, as you will see the area at its ugliest- wet, muddy, brown and grey. The roads are at their worst, having endured the plowing and the salt of the winter. Water problems (wet basements, seasonal springs, etc.) will be most apparent.
obviously having a little land (and by 'little' i mean just a couple of acres vs. a standard subdivision lot) is not necessary, but would be a positive to any place we consider. especially if, due to budget, we buy smaller than we'd like and want to add on in the future. and if we chose to make it our full-time place, we'd have a larger budget and would want to be closer to NYC because of commute times. I'm a city girl (although raised in small towns), so I don't really WANT to commute daily. I'd much rather purchase for a weekend retreat.
from preliminary online searches, there seems to be certain areas where houses under $150k are focused (i.e. kingston in ulster co. and livingston manor in sullivan co.). it seems best to invest in more typically expensive areas and put some work into the property, just because of the value of the area, especially for resale down the road. anyone have thoughts on this?
If you would consider a longer drive from New York City, say 2 1/2 hours, you might consider Livingston Manor in Sullivan County. It has a nice restaurant, a sporting goods shop, and the ONLY bookstore in Sullivan County, and it's not a chain bookstore to boot. Livingston Manor is straight up Route 17. There are a number of New York people who have relocated there and they are quite friendly.
The area is well-known for fly fishing and is quite near the Catskill Park. The air quality and water quality are excellent. I believe you could find a fixer upper for $125,000, especially with the housing market right now. It's a great time to buy: low interest rates and a lot of inventory. Good luck with you search.
If you would consider a longer drive from New York City, say 2 1/2 hours, you might consider Livingston Manor in Sullivan County. It has a nice restaurant, a sporting goods shop, and the ONLY bookstore in Sullivan County, and it's not a chain bookstore to boot. Livingston Manor is straight up Route 17. There are a number of New York people who have relocated there and they are quite friendly.
The area is well-known for fly fishing and is quite near the Catskill Park. The air quality and water quality are excellent. I believe you could find a fixer upper for $125,000, especially with the housing market right now. It's a great time to buy: low interest rates and a lot of inventory. Good luck with you search.
Galee
thank you so much! we've actually seen a few online in that area. we love the idea of a non-chain bookstore and friendly neighbors. Thanks for the advice. hope to make it to the area to browse in the coming weeks.
2 hours and 125k... you will be sort of on the edge one way. either you need to go a little further or come up a little in price...... this is not to say you can't find ANYTHING but they will be bottom pickings.
you might try looking at stone ridge,ny.. and surrounding areas. accord,ny, etc. theres a few 150-170k houses 2 bedroom that look OK but taxes will be high.
the problem with these areas is you have to drive everywhere. in new paltz you can walk once you are in town.
Last edited by joe moving; 03-25-2010 at 11:44 AM..
I too came from NYC 22 yrs. ago and I like to be able to visit it once in a blue moon as an energizer. I normally take the bus or if I if I have a group of people I can drive it within about an hour and a half. The area is rural and artsy and I'm talking about New Paltz. Most of the bars are patronized by the college kids and the wineries by NYC weekend people.Having said that the taxes here are high. I'm talking about $12,000 for a smaller colonial of two acres. I've had many clients from NYC and I seem to be able to find what they are looking for, but it's about 15 minutes more travel time in the price range that would make you confortable and the tax that won't break the bank.Moderator cut: realtor soliciting
Last edited by bellafinzi; 03-26-2010 at 12:40 PM..
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