Wed 23 Jan 2008
Posted by Meg under Vacation , Vacation House
Before getting into the reasons to buy a second home in the Hamptons, let’s first address the housing crisis that’s been all over the news for the last year. Now is a miserable time to sell a house. That’s making a mess for owners and developers, but this is good news for people looking to buy property — if you have stable enough finances to comfortably take on a new mortgage. Assuming you can handle the finances, the ball is completely in your court as a buyer. With more and more homes for sale flooding the market (there are over 5,000 properties for sale in the Hamptons right now), you as the buyer have the freedom to take your time, negotiate your own terms, and walk away from a deal that doesn’t meet your expectations. As sellers get impatient and desperate, the housing market begins to look like a giant clearance sale. So don’t let the news about the housing crisis scare you out of looking for a vacation home now. It’s not a bad market for everyone.
So why do you want a house in the Hamptons?
Everything about the Hamptons exudes style — especially the houses. This is a great place to host a party, or to escape for a quiet weekend of R&R. Every home is near a beach, and outside of the peak summer season, you can practically have the beaches all to yourself.
Even in the popular summer months, you won’t find the beaches nearly as crowded as some other major tourist destinations. This is largely due to the residential nature of the Hamptons — no skyrise hotels line the shores like other east coast beaches.
Some homeowners live in the Hamptons year round. It’s a much quieter place outside the peak season, but there are enough people around to keep the area alive and businesses open. For shopping and dining, you’ll find strip malls with luxury boutiques and cafes in the downtown areas, mostly away from the beaches, designed in ways that give the area a quaint-but-sophisticated small town feeling.
The climate in the Hamptons is generally comfortable. You’ll have four seasons a year, with cold (but not too snowy) winters and hot summers that will make your backyard pool your favorite hangout.
Owning your own vacation home means pets are always welcome, and dogs will love having the run of the beaches in your neighborhood.
Whether you’re looking to buy a getaway cottage or a sprawling mansion of a second home, the Hamptons are a great place to start your real estate search. With all the rich and famous that you’ll have for neighbors, your housewarming party could be the next hot item on Page Six.
