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Urban Renters Buying Vacation Homes
The New York Times

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While renting in the city, do you escape to a vacation spot that you own? The New York Times looks at the growing number of first-time home buyers who rent in New York City and buy a weekend home in the second home markets in the surrounding areas. They're taking advantage of a slow real estate market with significantly less money than it costs to buy an apartment in the city...

 
 

Last week we looked at the weekend home renovation of Williamsburg renters and this article looks at recent buyers in the Catskills, ocean-front Queens, and the Hudson Valley.

Lots of pictures and inspiring first homes: The New Country Squires and the slide show.

(Images: ©2009 Ruby Washington/The New York Times)

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real estate, country house, travel, The New York Times, Catskills

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Comments (10)

I read the Times article a few days ago, and I could only wonder why these people aren't looking for houses in the City of Newburgh.

Granted, I'm biased, but really -- Newburgh has PLENTY of architecturally significant houses for under $200k (many for half that or less, if you're willing to put in a lot of work), all of them within a very large historic district directly on the Hudson River, AND it's just a 5-minute ferry ride from Beacon (70 minutes to Grand Central on Metro North). "Country living" it's not, but it's a pretty amazing small city.

I made the decision to move from Brooklyn to the Hudson Valley FULL TIME 5 years ago (I commute to Manhattan daily), and I can't imagine also keeping an apartment in the city. Too much life division for me -- I'm a homebody. I also don't have that kind of money!

That said, I'd be lying if I didn't confess to wanting a second upstate house in the middle of nowhere -- a getaway from the getaway, if you will.

posted by Anna at D16 on July 8th 2009 at 4:20pm
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This is more and more popular. Having moved to S.F. 3 years ago, I know MANY people that rent an apartment in the city or share with a roommate or two and then own a house in the foothills. Its cheaper, makes for fabulous weekends, every weekend and is a great solution if you don't want to commute everyday but want to own something other than a shoebox down a sketchy alleyway.

The only drawback is that its hard to come back Monday morning and leave it.....

posted by bagelpower on July 8th 2009 at 4:53pm
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I did the same thing. My little farm in Medusa, NY is where my heart soars. I just wish I had done it sooner.

posted by medusa12120 on July 8th 2009 at 5:12pm
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I covet the 1790 house in the first picture. Sadly I'm pretty sure that the photo, and the attached article, will soon be appearing on stuffwhitepeoplelike.com.

Also someone needs to tell the gay boys that, when it comes to taxidermed deer heads, "less is more". Really, dudes... FOUR of them?

posted by Blandwagon on July 8th 2009 at 10:52pm
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Must be nice to be able to afford rent and a mortgage. Yes, I am jealous.

posted by zach_f on July 9th 2009 at 12:30am
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"Also someone needs to tell the gay boys..." Seriously, Blandwagon.

posted by Vincent B. on July 9th 2009 at 12:34am
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My mortgage is less than my rent. Viva la Upstate.

posted by I Love Upstate on July 9th 2009 at 8:44am
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But...how do you get there?

posted by kiljoywashere on July 9th 2009 at 9:43am
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I think that it's important to carefully research what one is buying, especially when considering the purchase of property well away from the city. The $300,000 spent on the profiled house in Kingston seems pretty steep for a home on the cheaper western side of the Hudson in an economically stagnant area, during a poor national economy. Real estate agents desperate for a sale, the comparative cheapness of property 100 or more miles from the city, and greedy sellers waiting to snare the well-heeled, sometimes impatient, and often less knowledgable city buyer, can result in overpaying for a property.

posted by John H on July 9th 2009 at 11:40am
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"The $300,000 spent on the profiled house in Kingston seems pretty steep for a home on the cheaper western side of the Hudson in an economically stagnant area, during a poor national economy."

I agree completely, John H. That price tag just seems absolutely absurd to me.

posted by Anna at D16 on July 10th 2009 at 11:36am
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