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Wednesday, June 27, 2018

Buying a Second Home in New York

Q: Is buying a vacation home a complicated process?

Whether you are buying a home in New Jersey or need a New York real estate attorney to help you upgrade from a starter home to a larger home on Staten Island, it's hard to resist the appeal of living in or near New York City.

The St. George’s waterfront redevelopment project is transforming Staten Island and with attractions like the New York Wheel, restaurants, shopping, housing, and more, Staten Island has become a destination spot not only for tourists but for residents attracted to its unique vibe. Many people are drawn to Staten Island because housing remains more affordable than it is in Manhattan and some of the other boroughs.

What can some Islanders do with the long-term savings on their Staten Island real estate investment? They can buy a second home as a getaway from city life on the weekends.

Or if they are ready to retire, simultaneously selling a Staten Island home and buying another home in which they can enjoy their “golden years” is an option. Second homes—whether for vacation or retirement-- are often smaller, “down-sized” homes that require less upkeep, so the owners can focus more on experiencing life.

Many people buy vacation homes in upstate towns in New York’s Hudson Valley or even in other New England areas just an extra hour or two away. Some buyers rent them out at times through Airbnb during weeks or seasons they don't plan to visit to help offset the costs of a second home.

Whether you are selling your home and retiring or you’re staying put and purchasing a second home, a skilled New York and New Jersey real estate attorney can help make it a smooth transaction. The real estate attorneys at Merlino & Gonzalez can help you with all of your real estate buying and selling needs. Buying, selling, and moving need not be a stressful experience. Contact us today to schedule a consultation.

From our offices in Staten Island, New York, and East Brunswick, New Jersey, we represent clients throughout New York and New Jersey in real estate as well as estate planning matters.


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