Let’s get one thing clear from the start. Nothing is more critical to your future success with an STR in Upstate New York than having a handle on each town’s current regulations. They aren’t all the same. Actually, none of them are the same. They run the gamut from friendly to downright apoplectic, and every emotion in between. Buckle up.
Read MoreIf you’re purchasing a home in the Hudson Valley, you should be aware that there are a handful of towns that charge a one-time tax at the closing table, called a “community preservation” tax. The rates vary between towns, range between 1-2%, and are levied on the amount over the median sale price in that county. This new tax aims to fund critical projects like open space preservation, affordable housing, and historic preservation.
Read MoreGetting the keys to your dream home involves more than just coming up with the down payment. Here are the most common costs home buyers in The Catskills and Hudson Valley will encounter, including specific dollar amounts. These reflect actual expenses from recent transactions, but please note, each deal is different and your experience may vary. I’ve excluded mortgage-related fees which we’ll cover in a separate post.
Read More
