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The Time Is Now

By: Mike Olson
Published: 5/24/2013Source: Hamptons Magazine

A Home on Bull Run in East Hampton, which is being represented by Michael Schultz.

The East End’s Premiere Landscapers, Architects, Builders, and Brokers Compare the Amenities that Attract Second-Home Buyers.

The Hamptons experience is different for everyone. Some want to escape the hustle and bustle of the city. Others want to bring a little slice of Manhattan style with them. But each season, a new crop of renters, visitors, and year-round Hamptons lovers find themselves facing the same question: Is now the right time to buy? Thankfully, a panel of experts recently gathered to discuss what attracts second-home buyers to the Hamptons.

“People are looking to escape their lives outside the city and come here relax," notes Claudia LaMere of Hamptons Realty Associates (528 County Road 39A, Southampton, 283-7400; hamptonsrealtyassoc. com), who has helped countless families navigate a second-home purchase. "In terms of lifestyle, they're looking for something that has a laid-back feeling."

The Corcoran Group's Senior Vice President Michael Schultz (57 Main St., East Hampton, 899-0254; corcoran.com) believes anyone looking to buy a second home in the Hamptons should rent first. "It's a good time after people rent because they know they want to be here," he explains. But as the market barrels back to full strength, those who are ready to buy would be wise to do so now. "With interest rates so low, people are finding that it's less expensive," adds Schultz. "Their monthly interest payment is actually less than the rent they are paying."

Indeed, with a second-home purchase seeming less a trophy buy than a wise investment, inventory is being snatched up at a pre-2007 pace. Builder James Zizzi, the founder of the James V. Zizzi Contracting Corporation (6 Old Country Road, Quogue, 653-9676; zizzihomes.com) and a former president of the Long Island Builders Institute, has been working on the East End for 35 years. As such, he has witnessed this boom firsthand. "In the first quarter of 2013, there was a 13 percent increase in the construction of new homes over the preceding year," says Zizzi.

Further down the pipeline, Ken Kelly, the founder of Kitchen Designs by Ken Kelly (77 Bridge St., Sag Harbor, 808-3776; kitchendesigns.com), a company specializing in kitchen and bath remodeling, also has a front-row seat to this wave of buyers. "We've seen a huge increase in activity in our showrooms," he says. "A lot of people who shelved plans a few years ago have started moving forward with their projects. There's been a huge growth spurt-and it's just ramping up."

Tim Barry, landscape design manager at Dodds & Eder (77 Bridge St., Sag Harbor, 725- 7775; doddsandeder.com), agrees. "There's been a big uptick in second-home purchases and landscaping renovations," he adds. "They're drawn to this great environment from the city. The Hamptons resident obviously has a great connection to the outdoor environment."

"Today, most of the house designs are focused toward the outside, with the rooms opening to backyards, gardens, or other outdoor spaces," says architect John Savage (74 Main St., East Hampton, 604-2322; johnsavagearchitect.com).  "People want homes where they can have their family come out to be a part of the experience."

For kitchen designer Kelly, the growth in the outdoor kitchen has been impossib1i to ignore, with clients eschewing basic barbecues for outdoor ice makers, wine coolers, and pizza ovens. Dottie Simons, president of retail operations at Dodds & Eder, has seen the same shift. "Clients are more and more interested in furnishing outdoors,” she says. “I'm going to homes and furnishing outdoor areas before they even have furniture inside."

When buyers do focus on interiors, they face a dilemma: adopt a traditional Hamptons style or bring a New York City aesthetic out East? "People look at their second home as an alternate home, one where they have a chance to do what they can't do in the city because of the limited space," says Savage, who has 32 years experience designing homes and interiors. "That gives them an opportunity to focus on making a personal statement."

Putting a personal stamp on a second home is vital, of course, but builder Zizzi cautions new buyers not to make rash decisions when it comes time to renovate. "In the excitement of buying a home, they want to do something to it, but the suggestion I always make is to live in the house for a season," he explains. "Get a feel for what the house is before you start trying to personalize it."

These days, when buyers do make alterations to their homes they are doing so with all 12 months of the year in mind. "Increasingly, clients are coming to me asking for a home to be designed for year, round use," says Savage. And Simons believes she knows why: Once beach lovers spend one summer in the Hamptons, they're ready to move to the Hamptons full time.

In a ritual that many East Enders can relate to, what starts as a second home often quickly becomes a primary residence. "I've seen it happen all the time," says Schultz. "When my clients first purchase their houses, they're looking at it for summertime. Then they realize the fall is one of the loveliest times to be in the Hamptons. Then they discover spring! All of a sudden they live in the Hamptons and say they keep an apartment in the city."

 

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