All Forum Posts by: Nick Hawthorne

Hi - I'm looking into different options to buy or build a luxury vacation home that can be used primarily as an STR to cover the costs and then be a getaway for my family several times per year. One idea we've been discussing is purchasing land by a lake and building a new home on it. How does one even start to calculate the cost of building a home? Talk to a builder and architect? And would a loan work fairly similar to a conventional mortgage, with a down payment and then conventional payback period? Thanks for any thoughts!

@Anthony DiSanzo @Sarah Kensinger Thanks for the replies! Ideal renters for me would multigenerational families of means looking to book full weeks in the summer, have a great vacation without wrecking the place, and come back year after year. That would match my own use of the house, which hopefully would be for 2-3 weeks each summer with family and/or friends. For this reason, I am currently looking at larger properties, ideally 4-5+ BRs, in good shape or able to be renovated into great shape.  Thanks! 

@Ursula Lovings just want to say it sounds like you're off to a great start - congratulations and good luck with the next move! From a fellow NJ condo owner. :-) 

Hi all. I'm looking into purchasing a STR beach house on the Jersey Shore that I can use occasionally and rent at least enough to cover the mortgage. I've come across several new construction houses, presumably teardowns. What are the pros and cons of buying a newly constructed house vs. an older one in this area? Also, are there any good resources for investing in the Jersey Shore? Thanks!!