The $26,500 Bungalow

Upstate New York bungalow colonies offer some of the most affordable second homes in the Catskills, but this one has got to be the deal of the decade. I first saw it advertised last year for $30,000, when the owners, a Park Slope couple, were relocating to Vermont. It still hasn’t sold, and they’re now far away, so the price for this 700-square-foot one-bedroom is now reduced to $26,500. Taxes are $2400/year, payable in three installments.

It’s part of a community of 12 bungalows called “Fiume Bello”–beautiful river–that began in the 1950s. It was essentially rescued from ruin by a co-op of families in the 70s, and the children of that wave of settlers now inhabit the bungalows, which are spread out over eight acres in Spring Glen, N.Y. They have a pool and a big field and big group dinners and bonfires if you want to participate in the group activity.

The place is not winterized, and thus, as a seasonal home, is not eligible for a mortgage (although it is, they say, winterizable). That means that you need all $26,500 at the time of purchase, though that’s probably half the amount you’d need for a down payment on any other home. Subletting is not allowed, alas. It comes fully furnished, replete with 50’s Formica table. I for one am interested. You?

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