It Takes TWO!
View from the terrace of 46 Mercer Street, SOHO

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!

Must have at least two: Manhattan and Fire Island.

回复
Marco A. Botarelli

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.

Duncan Schieb (GAICD)

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/

Laura Meehan-Agasian

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:)

要查看或添加评论,请登录

Leonard Steinberg的更多文章

  • The 0.1%, The 1%, The 3%, The 5%, The 10%.....

    The 0.1%, The 1%, The 3%, The 5%, The 10%.....

    The 10% wealthiest people/households in the US account for the vast majority of the people we cater to at COMPASS…

  • Facts And Figures Deliver Insights

    Facts And Figures Deliver Insights

    Yesterday's Earnings report on COMPASS spewed many outstanding facts and figures. Yes, facts and figures matter as they…

  • There May Be One Thing Worse Than Higher Mortgage Rates: LOWER Mortgage Rates?

    There May Be One Thing Worse Than Higher Mortgage Rates: LOWER Mortgage Rates?

    Consumers have taken quite a while to adjust to higher - not high - mortgage interest rates. (PS: High is 15-18%!) Most…

    3 条评论
  • While It Snows Outside.....Swim INDOORS!

    While It Snows Outside.....Swim INDOORS!

    Want to spare that flight to the Carribean or Florida as snow and ice cover the land? There is a growing trend amongst…

    1 条评论
  • DeepSeek Shocks and Surprises

    DeepSeek Shocks and Surprises

    Every year we make plans and set goals, but one element we often forget to factor in - even if it's a subtle reminder…

    2 条评论
  • NEW! NEW! NEW! Build LOTS!

    NEW! NEW! NEW! Build LOTS!

    BUILD LOTS, they said..

  • Living With Fires

    Living With Fires

    While Los Angeles painfully emerges from the devastation of the recent wildfires, this might be a good time to look at…

    2 条评论
  • SILVER TSUNAMI HOUSING OPPORTUNITY

    SILVER TSUNAMI HOUSING OPPORTUNITY

    You will die! Sorry, I know that's a bit morbid, but it is one of many things we all have in common. No-one lives…

    1 条评论
  • Dear Los Angeles.....

    Dear Los Angeles.....

    Dear Los Angeles..

    4 条评论
  • The Cost Of Housing

    The Cost Of Housing

    Re-read the above headline twice. The cost of renting or buying goes well beyond a rent or mortgage payment, and these…

    3 条评论

社区洞察