Looking suggestion on which area to buy a nice property to invest
Hi,
I love Poconos area and we are a super active family of 4. We are looking for a second home to enjoy weekends that can offer summer and winter activities both. We love hiking, golf, running, swimming while winter is for skiing. We found Monroe county can offer something but not sure where to buy our second home. I would really appreciate any suggestions you have - thx Ravi
#2 Starting Out Contributor
- Specialist
- Mendham, NJ
What's your price point? The Poconos can be nice and some areas are STR-friendly if you want to rent it out when you are not there. Catskills in NY is great and most of Greene County is as well. Woodstock too. For PA, near the Delaware Water Gap is an option, East Stroudsburg, Easton, etc.
Not sure if you're looking out of state but Rhode Island can check a bunch of those boxes.
@Tyler Fontaine it does tick the boxes but I don't think the I-95 corridor is the best if he is looking to use it. I've made the NJ to RI trip for several years at least a couple times a year. The 4 hour drive can stretch out some and from Allentown he is better off going up 84 to somewhere north. Also RI misses the skiing if you want the winter snow sports. I love RI though!
@Ravindra Gupta I think around montage mountain would a be a good start if you are looking for a second home for recreational activities such as golf or skiing.
Would the house remain vacant while it isn't in use? Or would you be interested in renting it out for half the year to help with expenses and assist you in building your overall equity in the property. Feel free to reach out, id be more than happy to help you get started in your search.
I am in Colorado so can't speak on the northeast too much, however, are you planning to Short term or mid term rental the property while you're gone?
I have a lot of clients that do that with their second homes. Defining your criteria will help a lot. For example: What activities, what price point, appreciation of the area, investment goals, etc... These will all help to narrow the search. While Colorado is quite a bit a way, reach out with any questions!
I would say your next step would be to Narrow the search to at least a couple towns, figure out price point, then reach out to some of the great agents on here to help.
Good luck!
