Here Are 6 Villages In New York To Buy A Vacation Home

A vacation is helpful, whether to unwind after a demanding workweek or to escape reality momentarily. And purchasing a vacation home is a fantastic opportunity to reduce housing costs and provide oneself with a second home in one's preferred vacation destination.

After being in a slump for almost two years, the vacation rental business is on the rise again. Like everywhere else in the US, places like upstate New York have dramatically changed since the pandemic.

The small village has long been a favorite destination for city-dwellers seeking a respite from the hustle and bustle. In recent years, however, the village has become increasingly popular as a second home for city dwellers seeking an escape from the grind. Here are six villages in New York to buy a vacation home.

How To Choose A Village Home

• Pick The Property Carefully: You should know why you want a second home before you start looking. Finding this out will help direct your search. For example, the NAR reports show that 80-90 percent of people who bought second homes intended to use them primarily as a place for family vacations. If having a place for the whole family to get together and relax is essential, the property should be in a convenient area for everyone and has something to do for people of all ages.

• Affordability: A vacation home is a luxury plan that not everyone can afford. Consider your income and financial resources and decide if you can afford a vacation home. When deciding on a vacation site, try to be as practical as possible by asking how much it cost and ensuring you have the money to cover it.
  
  Because as a standard requirement, you must put down at least 20% of the purchase price. Since the price of a vacation home can vary greatly depending on its location, and a 20% down payment might be substantial, it's a good idea to evaluate your financial situation before purchasing a second home.

• Fits Your Lifestyle: If you feel more at home in a cute little cottage than in a luxury high-rise condo with multiple units, you should focus your search on the real estate types most suitable to your preferences.

• Know Your Expenses: Learn the cost of second house ownership, including taxes, insurance, and other fees. Even when empty, you pay for water, gas, electricity, garbage removal, landscaping, and other maintenance. Insufficient funds can destroy a perfect vacation property. 

6 Best Villages In New York To Buy A Home

Hudson Valley

Hudson is a second home or weekend getaway for many New Yorkers. It may not be the best place for people who want to do a lot of sightseeing, but it is an excellent place to sit back and relax.

This town's appeal is no longer a local secret. And it has always been a great place to find antiques, weird architecture, and new ways to eat. It's a 2.5-hour drive from New York City and a great weekend place.

Montauk

Montauk has a beautiful beach, so it's no surprise that it's one of the best places in New York City to buy a vacation home.

This place is a well-known vacation rental area and has only gotten better during the long months of the pandemic. It is a small village at the east end of Long Island that has beautiful access to the water and is excellent for surfing, beach days, and eating outside on the weekends.

Montauk is appealing to investors because it's not just a beach town that shuts down in the winter. It is beautiful in different ways throughout all four seasons, and even though homes in this location can be very expensive, owners are always well-rewarded with high returns and sustained rental demand when the property isn't in use.

Hamptons

The Hamptons, located on Long Island's easternmost tip, have always been a popular vacation spot in the summer. Rental market is quite strong and diverse in the Hamptons. Flexible lease terms include weekly, monthly, seasonal, and annual options.

Your yearly carrying costs can be completely covered by the rental income you receive in just one month! The Hamptons are where everyone wants to go right now.

And there are certainly valid reasons for the Hamptons' enduring popularity. Since Long Island's climate is milder than that of upstate New York or Connecticut, the home can be occupied all through the year, unlike seasonal shore houses like those on Fire Island.

Among the many excellent dining options and pristine beaches, this destination shines. There are a wide variety of places to buy food, from markets selling fresh seafood and local produce to gourmet restaurants.

Lake Placid

Lake Placid in the Adirondacks is a popular vacation spot due to its beautiful setting. The area continues to draw much attention from professional groups looking to stage sporting events.

It is one of the few remaining places in New York where a second house can be purchased at a reasonable price. You can find many stunning residences at moderate price points

An additional plus is that there hasn't been as much development as in other tourist hotspots, so residents can relax peacefully while taking in the beautiful surroundings and unobstructed views. In the summer, visitors can enjoy a variety of water sports and other outdoor pursuits thanks to the destination's many lakes, rivers, and trails.

Sleepy Hollow

Sleepy Hollow in New York is one of the best places to buy a vacation home. The area is full of history and offers a wide range of activities for visitors to enjoy. There are also many options for vacation homes, from small condos to large estates.

The town was founded in 1640 and is home to many historical sites. Visitors can tour the homes of famous authors, including Washington Irving, or visit the site of the Battle of White Plains. There are also many museums and galleries in Sleepy Hollow, making it a great place for history buffs.

Kingston

Kingston, which is only two hours north of Manhattan, is one of the best places to visit in New York state for a vacation because of its beautiful scenery and rich history. It is a fantastic city for families and young professionals because of its rising property values and lively downtown filled with stores, restaurants, and entertainment options. It also has the Hudson River Walkway and other popular public parks.

As a result of rising demand, housing prices in Kingston and the surrounding area's communities are going up by roughly 10-15% over their original asking costs. So you can try it too.

You'll want to consider the home's price and facilities when considering where to buy a house in New York. It's essential to put yourself in the buyer's shoes and consider the type of neighborhood you'd enjoy living in, the features you'd find most valuable, and the kind of neighbors you'd like to have. Make the space fit your style and make your vacation home a place that makes you want to get away.