It Takes TWO!
There is a famous 1966 song by Marvin Gaye and Kim Weston and the opening lyrics are:
"One can have a dream, baby
Two can make that dream so real"
While the world pontificates over whether there will be a 'mass exodus' from New York City - and other large cities around the world - many have failed to recognize that wealthier people often own two homes.....or more. And while it is certain some are leaving large cities right now, permanently spooked by COVID-19, many are buying that second home they had put off buying for years.
Most people assume a second home is an unattainable luxury, but not everyone has a $25 million second home in Aspen or the Hampton's. Many areas within a 1-3 hour drive of large cities offer options that are much more affordable. Some may choose to buy a second home and rent a primary residence and visa versa. Some may own a small city residence and a larger secondary residence....or visa versa. Some may own a second residence/weekend home and offset its cost by renting parts or all of it. A one-month Summer rental in the Hampton's sometimes has the capacity to pay for ALL your annual ownership expenses.....and then some! Some properties have a secondary structure that produces income to offset expenses. Some homes make a profit when rented for extended periods. AirBNB has introduced other rental income options. No, second homes/weekend homes are not the exclusive domain of billionaires.
For anyone who has been fortunate enough to enjoy both a city and country/seaside/lake/mountain home, they are bound to tell you that experiencing the best of both worlds is truly an incredible quality of life. The stimulation and energy of a city juxtaposed against the calm and restorative qualities of the country/lake/beach/mountain..... can be pure bliss.
Mae West famously said: Too much of a good thing is......wonderful!
Project Manager
4 年Must have at least two: Manhattan and Fire Island.
Managing Partner Landstar Title
4 年Leonard I don't agree people understand that the city and state are broke and after this virus ends the next virus of 2021 THE TAX Man will arrive and they will be looking at all Real Estate Owners as a giant Piggy Bank to help them balance there budgets. The City under this administration is returning to 1970"s happening right before our eyes.
Engagement Fundraising | Fundraising Host | Auctioneer | Emcee | Mediator | I have raised over $200M for non-profits globally
4 年Leonard Steinberg I have 45 people registered to view an apartment on the UWS when we open phase two and I have had 6 offers in two weeks. #newyorkstrong https://kwnyc.com/west-79th-street-10024/upper-west-side/condo/241150/
NYC Real Estate Advisor/Specializes in Luxury Condos under $4M/Global Referral Partner/ Expert in NYC & North West Queens/ Storyteller At Heart
4 年Can I hear an Amen! Thanks for posting an awesome message:)