Pocono Mountain Vacation Home-Buying TipsAs with just about any subject, if you ask ten people for their opinion on finding and buying a Pocono Mountain Vacation home, you'll get ten different opinions. Most of this information is purely the author's opinion based on feedback from home maintenance customers. After serving the area's home owners for several years, this general guide was created simply to provide some non-biased information for finding the best vacation home for your family. As you consider this information, remember to always consider the source of any advice before acting upon it. Remember, suggestions presented here are purely the opinion of this author. Now on to the first hot subject of the day. Should I Buy a Foreclosure?While many so called experts will advise you to search out foreclosures, I've learned that it has been a very rare thing when someone actually gets a great deal with a foreclosed home. I'm not discussing the question of waiting on banks and mortgage companies to respond to offers or such but there are some simple points that surprise many buyers. It is a very rare thing that a home that has been foreclosed is in good shape. I've been called into to estimate repairs ranging from simple holes in sheetrock to cases where walls and kitchen cabinets have been torn out. In the Pocono area there is a constant threat of finding mold in damp and unheated homes. Anyone familiar with the problems of mold knows that even a simple mold problem can cost thousands of dollars for remediation. The problem with this is it is often missed with typical home inspections. Regardless of an inspection, another point of a foreclosure is that home is sold "as-is" with no recourse possible on the part of the buyer. In most cases homes in foreclosure are simply "beat up" at best and "destroyed" at worse. Usually they feature no upgrades at all and seldom have improved properties. Now having said all that, I do know of some who have gotten exceptional buys and then had the cash to repair and update the properties to a livable condition. But in most cases, the cost of repairs and replacement of appliances and such run the cost of the home up to almost the average price point in an area. Those who normally do well in this are those who are in the trades and realize what they face. So personally speaking, I suggest not even wasting time on foreclosed homes. But a smart shopper will note the price of foreclosures in an area and use that information to help them in the price negotiation process. Remember the Purpose of Your Home PurchaseIt is no secret that emotions are involved when shopping for a home. It is best to keep the purpose of your home in mind at all times. Lets consider some facts that many do not want to discuss during the home buying procedure. First: Do not expect to buy an old Pocono Mountain Vacation home as a financial investment for the future. Notice I said an "old" home and I'm referring to the typical T-111 wood sided home types mentioned in the construction section of this subject. I can state with complete honesty that most people haven't a clue concerning the cost of having contractors work on older homes. From my customers I've seen that unless you are in the building trades, there is no way you will pay for workers and materials to upgrade one of these older homes to a significant point of selling it for a profit. I know that everyone knows someone who made a "killing" but I can show you ten people for each one of those that lost their shirts on repairs and upgrades. Remember the point that there was no building code until fairly recently. Common sense dictates that you will pay for this when obtaining building permits to upgrade a home to current specs. You would be surprised at what I've found in some of these old vacation homes. Remember the point that they were built cheaply in their day since they were only to serve as vacation homes. What was generally acceptable as a vacation home in the 70's and 80's simply does not measure up to our needs today. I've seen people buy these old homes and reside them with vinyl siding and think they'll flip them for a profit. Guess what, most home shoppers easily identify them for what they are and move on to newer homes. Remember that you and your family want to use this new home as a vacation get-away or a new year-around home, you don't want to spend your time repairing it or maintaining the old home. Second: Decide upon your location before looking at any homes. As stated in the " Location" section of this report, if you like town and city life, I'd suggest looking only in the Stroudsburg or East Stroudsburg area of the Pocono's. If you like the idea of rural living then search out the eastern area going north from Marshalls Creek on route 209. I suggest the eastern area due to it's proximity to NJ and NY. Home values have tended to remain fairly stable in this area due to regular demand of new buyers. I suggest looking at private communities for several reasons shown on the mentioned "location" report. But don't let others tell you that living in the mountain communities will cost you too much time in traveling. That is what some lazy real estate agents will say so they don't have to spend any extra time outside their comfort zone when showing homes. The bulk of their home inventory will be in the city areas which shouldn't be surprising. The majority of the population in the area lives there so the turnover of homes is the highest. Believe me when I say there is a world of difference in communities even though they might only be a couple miles apart. I know since I've worked in all of them. You do well for yourself by visiting several and doing your research. Third: In recent years, larger homes have become the norm. While in some areas this might be questioned, I'd always recommend buying a three or four bedroom home with at least two or three bath rooms. This is a prime vacation area and has been for decades. You will have friends and relatives coming to visit and you want to be able to provide hospitality. Lets face it, that's part of the beauty of living in a mountain resort area. Plus you will find the cost per square foot of existing homes in the region a steal when compared to similar size homes in New Jersey or New York. Where Do I Go for Home Sales?Real Estate Agents: I've worked for and around real estate agents all my adult life. So at my age I've met all types and have several long time friends still in the field. I say this because in no way do I mean this to insult those working hard to serve their customers. But I do have a different perspective on home buying and selling then most agents. Most people shopping for a home from out of the area will automatically call a large real estate company that they might be familiar with. The agent will do his/her job by checking the online listings of the MLS for any homes in your price range and location of choice. Then you have to sign the legal agreement that the agent is representing you in the possible purchase of any of the homes they show you. How Do I Shop For A Home?Suggestion: Do your homework BEFORE setting foot in any real estate office. Realize that today you have access to the very same homes for sale as the realtors do. If you visit Weichert.com, bhgrealestate.com, remax.com and realtor.com you will have access to most if not all they have access to. Go to these sites and do your homework. This will enable you to compare listed prices in various areas and get a feel for what you can expect for your price point. Then I suggest you do what agents will never suggest. Start searching classified ads from poconorecord.com, ebay.com, poconos.craigslist.org and forsalebyowner.com and owners.com But you are searching only homes "for sale by owner" Why do I suggest this? The first reason is you can miss out on some great homes for sale and never know about them if you depend upon the real estate agent. You must understand that most homes sold by owner will not pay agents to show their properties. Although some private sellers will invite agents, they (agents) still are reluctant to go to private sellers for other reasons and its all about their income and not you. If you are already qualified for a loan and have written proof, a private seller will be more then happy to show you their home. As mentioned, since the private sellers are not locked into paying a real estate agent 6-7% of the price, they are more inclined to give the buyer a better deal. Use this to your advantage. As with any home purchase, I'd recommend securing the services of a real estate attorney to review any contracts. Popular areas Narrow your targeted area. Realize that homes available outside a private community will mean you need a private well and septic tank, private trash pickup and be fully dependent upon local police and municipal departments for all services and none of these services are free. Generally speaking, your property taxes will be a bit higher also. In contrast, many (but not all) private communities will provide these services as part of their amenities. I suggest narrowing down your search to ONLY private communities offering central water and sewer along with the standard benefits.
I strongly suggest considering driving time instead of miles from favorite areas when you are considering a location. I'll give you an example of why I mention this. I lived in a coastal town in NJ for years. The closest grocery store was less then 7 miles from my home. The traffic lights and traffic turned that 7 mile trip into a 20 minute drive. I now live in the Glen at Tamiment* and the trip to the local grocery store is exactly 10 miles from my door. This trip takes 15 minutes. *Obviously I'm biased since I'm very familiar with this community. But I took the suggested steps shown above when selecting our home several years ago. After doing so, the fact that my decision was correct was backed by the feedback received from my customers throughout the area. Quick Tips:
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Author of this section is
Dennis Estelle, owner of A-Plus Home Care |
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