If you’re looking for a luxurious vacation home near New York City, the Hamptons is definitely worth considering. This exclusive area has long been a favorite of the rich and famous, with its stunning beaches, charming towns, and upscale restaurants and shops.
But just how much does a vacation home in the Hamptons really cost? Let’s take a closer look.
Location Matters
First and foremost, it’s important to note that the price of a vacation home in the Hamptons can vary widely depending on its location. The most desirable areas tend to be closer to the ocean or within walking distance of town centers. Homes in these prime locations can easily fetch millions of dollars.
Oceanfront Properties
For those who want to wake up to stunning views of the Atlantic Ocean each morning, be prepared to pay a premium. Oceanfront properties in the Hamptons can range from $10 million to $50 million or more depending on their size and amenities.
Village Properties
If you prefer being within walking distance of town centers, prices can still be steep but slightly more affordable than oceanfront properties. A four- or five-bedroom home in East Hampton Village can range from $4 million to $10 million.
Size Matters Too
The size of your dream vacation home will also play a significant role in how much you’ll pay. Larger homes with more bedrooms and bathrooms will naturally cost more than smaller ones.
Small Homes
For those who don’t require much space, smaller homes with two or three bedrooms are available for around $1 million to $3 million depending on location.
Medium-Sized Homes
If you need a bit more space but don’t want anything too extravagant, medium-sized homes with four or five bedrooms are available for around $4 million to $6 million.
Large Homes
For those who want a true mansion, large homes with seven or more bedrooms can easily cost $10 million or more.
Additional Costs
It’s important to remember that the purchase price of a vacation home is only part of the total cost. You’ll also need to factor in property taxes, maintenance costs, and potentially even staff salaries if you plan on hiring a housekeeper or groundskeeper.
The Bottom Line
So how much does a vacation home in the Hamptons really cost? The answer is that it depends on various factors such as location, size, and amenities.
However, be prepared to spend several million dollars for a truly luxurious property in this exclusive area. Keep in mind that additional costs such as property taxes and maintenance should also be factored into your budget.