Every week we get calls and emails from folks interested in renovating or building new homes in the Hudson Valley, Catskills, and NJ. They’re often wondering where to start: in their search for a place of their own, what things cost, how the design process works, how and long it takes to build. Our advice is to take a moment and start with this exercise first: write down your intentions, rank them into priorities, determine a budget, and think about your timeframe.
Intentions
What lead you to this moment and why are you considering buying or building a house? Are you looking for a weekend home, a place to disconnect from work and/or technology? A place to relocate and work remotely full-time? To raise a family or start a new business? How much time can you commit to maintaining or developing a property? Do you want to be part of an active community? How many years do you imagine enjoying the property? Make a list of these intentions.
Priorities
Location, location, location No two properties will have the same features (rolling rocks, a stream, full-grown deciduous trees) and not all areas have the same quality or combination of good schools, reliable internet, diverse businesses, and retained property values. This is why you’ll need to rank your intentions: a rugged 40 acres on a wooded hillside may be romantic but if it’s a 30 minute drive to the closest gas station or to get milk and eggs its appeal can wane. Is a sub 2-hour drive to NYC more important than a larger parcel? Do you want to be within walking or biking distance of trails, schools, or other amenities?
Budget
How much are you willing to invest in your property? How much cash do you have on hand? Have you talked to a lender? Have you considered the prospective resale value?
Timeframe
Do you hope to retire in this house? To spend a few years? How soon do you want to be on the property and enjoying it? Can you build it in phases: camping on the land the first year, starting construction the second, and moving in the third year?
In our next post we’ll walk through evaluating your options. In the meantime here are a few great resources on:
While no longer functional: The Catskills4sale.com has a wealth of interesting articles still available on the internet wayback machine