Why (And Why Not) to Buy a House in Upstate NY

  |  January 28, 2013

Truth be told, we are officially on the fence, just like thousands of our readers, about whether or not to buy a house upstate. We want a place to get away to, a place that meets our needs (views, land, place for kids and visiting pals, outdoor shower, outdoor fireplace, maybe a bit of water–oh, and about $300,000) and that we can rent out when we’re not around. But we have many fears, including what happens if it doesn’t work out, and we need to unload it?

That’s happened to several families we’ve met: they bought a place, used it for a few years, and then realized that their lives weren’t unfolding as they’d previously envisioned, and they needed to say goodbye to it.

And this is the most important criterion if you’re considering purchasing a house upstate (one that you’re planning to occupy only part-time, that is): are you willing to take a loss on it, however small? Because there is no guarantee that you’ll sell it for more than you paid a few years earlier, and no way to tell how long it will languish on the market. We’ve seen some incredible properties with for sale signs attached for years.

On the other hand, we’ve also seen things go so fast it surprised us. These are turnkey places, often modernized on the insides so that they still feel like old houses but don’t behave like them. Places with good light, views, modern kitchens and easy access to outdoor space: those ones seem to go fast. But even if you snatch up a great mid-century modern with mountain views, our advice is to think less about the investment of money, and more about the investment of time. That’s something you’ll get a return on, in the form of countless hours relaxing by the fire, and in good old fashioned clean air.

P.S. Here’s a house we’re fantasizing about this week.

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