Okay, so maybe not the masses, but at least for those who know they'll most likely
never be able to afford an estate like Three Ponds Farm (in all its golf glory).
So let's begin by saying that "budget" and "affordable" are relative terms. After
all, if you make $5M a year, your definition of affordable and mine are quite different.
So, for the purposes of this article, let's establish a few assumptions:
- Assumption #1: If you're searching for real estate on the East End at all, "affordable"
for you is going to be above average. You understand the area is generally expensive
and you're going to pay more than you would in many other areas of the island (or
most other areas of the country for that matter).
- Assumption #2: Sales of ridiculous mansions most people could never afford skew
the average so we're going to use the median as our high-end of the price scale
(estimates vary but the figure we're using is $900,000).
- Assumption #3: If you're searching for a second (vacation) home on the East End,
you're certainly not struggling financially and you're looking for something in
a similar price range.
- Assumption #4: If you're looking to establish a permanent residence, you're going
to send your children to public school and the quality of the district matters.
The first (and probably most important) decision you need to make is which fork.
Anyone who's spent time on both knows the immediate differences between the two.
Generally speaking, the South Fork means status, ocean beaches, high-end dining,
bar and nightclub scenes, and beautiful villages. On the other side of the coin,
there's traffic, hustle and bustle, limited (if any) waterfront opportunities (in
our price range), and the realization that you're going to get much less for your
money.
The North Fork offers solitude, value, waterfront opportunities, wine country, farm
stands, more convenient travel off Long Island, and more consistent waterfront dining
opportunities. Villages are also fewer and farther between, nightlife is sparse,
and weekend traffic in the fall can be dreadful (think wine harvest and pumpkin
picking).
It's also important not to forget the "diamond in the rough" that is Shelter Island.
Offering a truly unique East End experience that's much more Martha's Vineyard than
it is Hamptons, Shelter Island is an intriguing option for anyone looking to purchase
a home on the East End. The most obvious drawback to life on Shelter Island is also
one of its best assets (depending on personal preference) – lack of access. The
resistance to building a bridge from the mainland means the only way to get to and
from the island is by boat. While ferries run consistently, there is a daily gap
from about midnight until 6AM (depending on ferry and time of the year) where access
to and from the island is non-existent.
So what does all this boil down to? Here are my recommendations for vacation and
permanent homes on both forks (for the purposes of this article, Shelter Island
is being included in the North Fork):
South Fork Permanent Residence
Westhampton / Quogue / Remsenburg Area
Boasting likely the best overall school district in the area (accounting for K-12
teacher ratings, amenities, parent/community involvement, and athletic programs)
there are great options for any type of residence. You can find a place close to
the water or something nice on a couple acres of land. Be a short walk or bike ride
to one of my personal favorite Hamptons villages (and one of the only ones that
boasts some life throughout the entire year), or find a quiet, out-of-the-way home
on a seldom traveled side-street.
Lawrence Citarelli Jr. of First Hampton International Realty in Westhampton Beach
tells NextStop, "The Remsenburg to Quogue Market has shown solid resilience. While
the matrix of inventory is diverse in any specific location, smart buyers have been
and will continue to take advantage of historically low interest rates and current
economic fundamentals. Activity is significantly higher YTD than the same time period
in 2010."
South Fork Vacation Home
Montauk
Montauk is quite possibly the hottest real estate section on the East End right
now. Long beloved by locals, Long Island residents seem to have always loved vacationing
here. Options have always existed for anyone wanting a great summer beach vacation,
from a stay at Gurney's Inn or the Montauk Manor to camping in Hither Hills, and
many Long Island residents have long taken the trip every summer.
However, it seems outsiders are starting to realize what an amazing place this is
and Manhattanites are finding it to be worth the extra 20-30 minutes to get to their
summer getaways. The influx of new residents along with the increasingly popular
ownership of local businesses by "non-locals" (i.e. those who either don't live
year-round in Montauk or have recently transposed themselves) is creating kind of
a "chicken or the egg" scenario. Whichever came first, there are great options still
available for your second home.
As Joan Hegner of The Corcoran Group puts it, "Older and newer homes within the
same area makes for a very diverse price structure in Montauk. Additionally, lots
of adjustments and a competitive market has led to great inventory under the $1M
price point; more so than in many years. Homes available at this price point are
also very spread out. In particular, Ditch Plains, Hither Hills, Culloden Shores,
and Shepherd's Neck all have great properties available, among others."
North Fork Permanent Residence
Cutchogue
Arguably the best school district on the North Fork, a high availability of real
estate in our price range, lots of waterfront (a good percentage of which actually
falls into our target price range), and a central location makes Cutchogue my choice
for those that love the North Fork lifestyle.
The central location can be important on the North Fork where villages full of stores
are few and far between and you often have to travel a bit to find what you need.
Shopping local is very important to us here at NextStop but sometimes it's just
not possible and Cutchogue is close enough to Riverhead to make those trips viable
as regularly as necessary. All in all, Cutchogue is a great choice with plenty to
do for those looking for a low-key East End existence.
North Fork Vacation Home
Shelter Island
As mentioned above, Shelter Island is being lumped in with the North Fork as it
relates much closer to "North Forkers" than "South Forkers". In fact, residents
of Shelter Island go out of their way to dissociate themselves with the Hamptons,
often referring to it as the "un-Hamptons".
Shelter Island boasts all of the amenities that would absolutely have won it my
vote for permanent residence were it not for the lack of access to and from the
island late at night / early in the morning. Late night arrivals (especially as
kids begin traveling to and from college) are sometimes just a part of life, especially
when it comes to dealing with Long Island traffic, so this factor makes it a difficult
recommendation for the average family.
Otherwise, Shelter Island is one of my favorite East End destinations. A strong
sense of community, good dining and entertainment options, affordable golf (an East
End rarity), and easy access to both Forks (including a direct line to my favorite
North Fork town, Greenport) make this a great vacation destination. As if that wasn't
enough, the presence of the Mashomack Preserve – one of the East End's most underrated
crown jewels – puts Shelter Island over the top.
While "inexpensive" real estate on Shelter Island is very much a thing of the past,
homes do exist in our price range. However, Shelter Island real estate is limited
so if you're looking, it's important to keep a continuous watchful eye on what comes
on the market.
Whether you agree with my recommendations or not, the East End is a spectacular
place to live and visit and any location would make an excellent home.
Looking for a new place? Try these:
Westhampton Beach Traditional
$850,000
Enjoy comfort, spaciousness, and proximity to village in this six bedroom, four
bath traditional! Built for entertaining, this spacious home offers meticulous landscaping
- first floor level includes formal living room and dining room, gourmet kitchen
with family room, guest bedroom and bath. Second level offers large master bedroom
suite, and four guest bedrooms. In addition, there is a large, beautifully finished
basement. The yard offers privacy, ample decking, and fenced in-ground pool.
Dee Perfido
First Hampton International Realty
(631) 288-2122
www.firsthamptonrealty.com
Montauk Oasis
$699,000
Move right into this beautiful and fully updated home for the summer. Enjoy the
peace and serenity of the 1/2-acre yard bordering the golf course. The 2 (conv.
3 bedroom) and 1.5 bath home enjoys a renovated kitchen with granite countertops
& stainless steel appliances. The new roof, bamboo floors, outdoor shower, storage
shed, garden, and fireplace makes this a must see. With low taxes and maintenance
costs this home provides an affordable East End escape. Schedule a viewing today.
Janet Weimar, Corcoran
P: (631) 899-0413
C: (631) 875-8449
www.corcoran.com
