The Hamptons’ pristine waters, oceanside air, sandy beaches, and rustic charm have been drawing people to the area for decades. Each village in the Hamptons has its own unique features. Southampton is the largest village since it was the first “summer cottage” community in the area. East Hampton has a classic New England village charm with expansive green spaces. Water Mill, aptly named after the only functioning water mill and windmill, has open fields and wooded hills. Amagansett is the home of the Amagansett National Wildlife Refuge
, a 36-acre area of double dune beaches. Although Sagaponack counts among its residents a large number of celebrities, the village remains free of the paparazzi drama. Sag Harbor was originally settled in the 1700s as a whaling village and, thanks to John Steinbeck, is known for its writing and arts community. Montauk is a hot spot for surfers and water sports and is a favorite destination for young people.
No matter what village you want to call home or invest in, real estate in any area in the Hamptons is a great investment. Here is why.
#1 A growing sense of community
The pandemic created a surge of people looking to relocate into a home with ample living space, better views, and larger outdoor areas. Amagansett real estate met those goals. With mortgage rates staying low, the surge continues. What was typically a summer rental in the Hamptons is now a home occupied year-round by the homeowner. In previous winters, the population for the area was around 58,000. Currently, it is up to around 80,000. The Hamptons community
is being transformed into a primary market instead of a second home market. There are more children in the school systems, and local businesses are seeing traffic all-weeklong instead of just on the weekends. The sense of community in the area, which has always been solid, is becoming stronger with more residents living there full time.
#2 Because it is the Hamptons
There is no place like the Hamptons
. It has the perfect mix of the ocean, rural atmosphere, historic charm, and exclusivity all within driving distance of New York City. Thousands of people make the Hamptons their vacation destination every year. People come from all over to experience the famous surfing area on Long Island. Coopers Beach is one of the finest beaches in the region any time of year. Even in the winter, you can enjoy the gorgeous landscape and relax to the sound of waves on the shore. You will find some of the best real estate available in Sag Harbor houses for sale.
#3 It is a hot real estate market
This year started with home sales in the Hamptons up 48% over last year. The inventory of Amagansett real estate and Sag Harbor houses for sale is shrinking and will likely stay low for the foreseeable future. As of September 2021, limited inventory and high demand pushed the median sales price up 15%
over last year. Due to the competition for property in the Hamptons, bidding wars are occurring in about one-quarter of the sales. This is especially true for the popular summer rentals, which means there are fewer rental properties available for summer travelers. This could be the time to invest in rental property in the area. Homes are selling quickly. In previous years, property for sale was on the market for an average of 123 days. Today, they are selling in six weeks.
#4 Rising appreciation
Any time there is strong demand and low inventory, home values increase. In a seaside area like the Hamptons, suitable land for new construction is always an issue. It is one of the factors that drive the appreciation of beachfront homes. The other is the obvious one: living on the beach is a dream for many. Even without those factors, history has proved real estate is a wise investment that appreciates well long term. If that real estate is in the Hamptons, the appreciation is even greater. With the wave of people moving to the area, now is an optimal time to invest in Amagansett real estate. In fact, one investor
has already made a tidy profit from rebuilding a couple of properties and selling them.
#5 Financial benefits
Owning real estate is an excellent way to build wealth, and now is a perfect time to invest in Sag Harbor houses for sale. The low mortgage rates are making it easier for many to invest. The appreciation of home values across the country provides equity you can leverage to invest in a second home or an investment property. Owning real estate also has tax benefits. Be sure to discuss options with your accountant
to learn about tax advantages you may qualify for. Some options to look for are deducting your property taxes and mortgage interest, which may be available to you with a second home. If you have investment property, you may be able to deduct the expenses related to the upkeep and maintenance of the property.
#6 Professionals who understand the market
If you are looking for investment property in the Hamptons or Amagansett real estate, you will benefit from working with knowledgeable realtors in the area. Living and investing in the Hamptons is different from other popular travel destinations. Many sections of the Hamptons have stricter rules
for short-term rentals, such as Airbnb rentals. A local real estate agent familiar with these areas can help you select the area that best accommodates how you want to utilize your property. Negotiating a sale in a seller’s market requires experienced professionals. When homebuyers are competing for the same property, a skilled agent has the tools needed to help you win the bid.The Breitenbach Advisory Team
has the local expertise and knowledge of the region necessary for homeowners and investors to find real estate that meets their needs. Their broad background of experience enables them to help you with any request you may have, and they are happy to assist you.