Now Is The Time To Buy Your Lake Front Home In The Finger Lakes !
Why is now a great time to buy your vacation home in the Finger Lakes ?
- Interest rates are still at record lows for those not purchasing with cash. Many buyers also utilize home equity loans against their primary residence to leverage as cash for their purchases. Rates started to climb upwards this summer and then reverted back into record lows. How long will this trend last? The crystal ball is not saying. I am assuming it can not last forever.
- Because this is a buyers market, buyers have a huge advantage on price negotiations for their lake front property purchase. With the summer season winding down, sellers are more anxious than ever to turn the keys over. Many sellers pull their listings off the market during the slow winter months. Homes are harder to sell when everything has been winterized, the heat turned off and the decks pulled up onto the lawns. It just seems to lose so much curb appeal during this time period. So take advantage of the sellers situation when you can.
- There are many projects in the works that could cause an uptick in prices on the Finger Lakes.
- For example: 1. The City of Canandaigua and some major developers are working on a project that will attract International attention. The process has started already with the removal of old buildings and mobile homes. The ground has been cleared. Artistic renderings have been submitted and financing is being worked out. This will take place at the North end of Canandaigua Lake by Kershaw Park. 2. On Keuka Lake, plans are in the works to construct The Finger Lakes Museum. It is a multi million dollar plan that will house both indoor and outdoor displays showcasing local vegetation and wildlife as well as the cultural aspects that have helped to create this unique and beautiful pocket of diversity.
- Purchasing a lake front home in the Finger Lakes now will allow you to enjoy your new vacation home during the holidays. You can take in some skiing at some of the local resorts, enjoy the beauty of the winter scenery, visit some of the many wineries around the lakes and become familiar with the area.
- What a perfect time to put into place any modifications you would like on your new vacation home. Many contractors will be looking for indoor work and the place will be complete for your summertime enjoyment.
- Renting vacation homes is becoming increasingly more popular every year. If you are considering offering up your vacation home for rental purposes for some additional income while not in your personal use, this is a great time to plan for needed items and amenities in the house in preparation to the rental season. It will also allow you some time to interview various rental management companies in the area to determine your best options.
- Last but not least; That is to enjoy a special place,, your second home to create strong and wonderful memories for families and children. And to use as a place of retreat, as a way to renew, revitalize and recharge our faculties for however we spend our time back in our primary and world of work. We are especially blessed in that Vacation Homes in the Finger Lakes Region of New York State means world class natural beauty along with world class wine and wineries.The Wall Street Journal put together an article on various reasons to purchase vacation home properties now. The article talks about other areas of the country, but the same reasons hold true for the Finger Lakes. You can read that article in this link.
Vacation Homes: Why It May Be Time to Buy
So as you can see, there are many great reasons to purchase your lakefront home in the Finger Lakes now. Real Estate in the Finger Lakes Region has proven to be a very compelling investment over the years. However, the most important dividend has always been the “experience.” Check us out. Test it for yourself. You will not regret it!
You will be ready for next season, you can start shopping for a new boat to park at your dock ( maybe Santa can help in that department ) and you can enjoy the great Fall scenery as it puts on its annual display of yellows, oranges and reds. Call me to get the ball rolling!
This article brought to you by your favorite lakefront realtor, Mary St. George, Your Personal Connection to Lakefront Living in the Finger Lakes. 315-719-8377