Top 6 Benefits of Investing in a New Pocono Home (2024)

FAQs

Is the Poconos a good place to invest in real estate? ›

THE BOTTOM LINE: The bottom line is that a new Pocono home is a strong, stable investment. And while real estate can go down in value at times, it always recovers… always.

The benefits of investing in real estate include passive income, stable cash flow, tax advantages, diversification, and leverage. Real estate investment trusts (REITs) offer a way to invest in real estate without having to own, operate, or finance properties.

#1 - Lake Harmony Estates - Lake Harmony is one of the most sought-after areas in the Poconos because of it's lake (allows motorboats), proximity to skiing, dining and other attractions.

Population growth last decade also played a major role in the state's 30 highest-taxed districts. This includes the Poconos and southeastern Pennsylvania, along the Maryland border.

Geographically, they are a mountainous region on the upland Allegheny Plateau, which runs along the Delaware River and Delaware Water Gap. The Poconos are 2,400 square miles of outdoor recreation space filled with skiing, boating, and sports activities.

Despite what some may think, 2023 is still a good year to invest in real estate, thanks to advantages like long-term appreciation, steady rental income, and the opportunity to hedge against inflation. Mortgage rates are expected to decline, but the housing market is likely to remain competitive due to low supply.

Why is investing important? Investing is an effective way to put your money to work and potentially build wealth. Smart investing may allow your money to outpace inflation and increase in value. The greater growth potential of investing is primarily due to the power of compounding and the risk-return tradeoff.

What are the benefits of investing? ›

Investing can bring you many benefits, such as helping to give you more financial independence. As savings held in cash will tend to lose value because inflation reduces their buying power over time, investing can help to protect the value of your money as the cost of living rises.

According to Murray, there are multiple factors driving the search for high end homes in the Poconos. Remote work, low interest rates, stock market performance, and the area's proximity to New York and Philadelphia are fueling buyers entering the local high end housing market.

Where are the hottest real estate markets in Florida? The three most expensive markets in Florida to buy a house at the end of 2022 were Sarasota, Miami and Fort Lauderdale, according to the Council for Community and Economic Research's Cost of Living Index.

The Safest Place to Own a Home Hasn't Changed in Five Years

Nashua, New Hampshire and Laredo, Texas came close behind Columbia as the safest cities in the U.S.

Age requirements

A person aged 65 years or older, A person who lives in the same household with a spouse who is aged 65 years or older, or. A person aged 50 years or older who is a widow of someone who reached the age of 65 before passing away.

Applicants with an annual income of $108,046 or less are given a presumption of need for the exemption. Applicants whose gross annual income exceeds $108,046 will be considered to have a financial need for the exemption when their allowable monthly expenses exceed monthly household income.

Greene County had the lowest in the country at 0.04%, while Blair County's was third at 0.09%. Susquehanna County boasted a tax rate of just 0.13% in 2021, making it the fifth lowest.

Moving to the Poconos allows commuting workers to say goodbye to the days of exhausting car rides and high gas expenses. On average, Americans are spending anywhere between $2,000 and $5,000 on commuting costs every year. New York ranks among the third highest in the United States for annual commuting costs.

About the Town:

Historic yet hip, Stroudsburg, PA is often known as the "heart of the Poconos." Located right off of I-80, the county seat of Monroe County boasts year-round happenings, but it's also just minutes away from peaceful mountain retreats.

The Poconos Aren't The Suburbs

Moving to the Poconos isn't like moving from the city to the suburbs. It's more serene and peaceful. Frankly, it's more rustic. That doesn't mean it's uncivilized—it's just that there are more open spaces that include wetlands, parks, and natural areas where it's not possible to build.

Is the end of 2023 a good time to buy a house? ›

Experts say hopeful buyers should not expect today's high prices to plummet anytime soon. “Home prices won't drop in 2023,” Evangelou says. “I expect pricing to be relatively flat.”

As inflation starts to come down, mortgage rates will recede somewhat as well. If we experience a recession, rates may drop a little faster. But average 30-year fixed rates will likely remain somewhere in the 6% to 7% range throughout 2023.

Possible Depreciation. Appreciation is an important fact to consider when you're trying to determine whether a home is an investment. If the appreciation rate is high enough, then the added value you'll earn from the home will make the investment worth it within a certain period of time.

These five factors— timing, location, quality, risk, price and deal— are important to understand and plan for.

They evaluate credit and payment history, income and assets available for a down payment and categorize their findings as the Three C's: Capacity, Credit and Collateral.

High Vacancy Rates

Unfortunately, there's always the risk of a high vacancy rate in real estate investing. High vacancies are especially risky if you count on rental income to pay for the property's mortgage, insurance, property taxes, maintenance, and the like.

Buy your own home

It's one of the best ways for you to invest in real estate, offering numerous benefits. The first benefit is building equity in your home from your monthly payments, rather than paying rent which always seems to rise year after year.

The first step is to earn enough money to cover your basic needs, with some left over for saving. The second step is to manage your spending so that you can maximize your savings. The third step is to invest your money in a variety of different assets so that it's properly diversified for the long haul.

Direct equity stocks are one of the best investment options for aggressive investors. Investing in listed equity stocks of companies on the stock exchanges is known as Direct Equity investment. You can get capital gains or dividend returns from the direct stock investments.

What are 10 benefits of owning a home? ›

Invest for the long term

It may be tempting to try and time the market — buy and sell investments based on what you believe the market is going to do in the future — but you risk losing quite a bit of money, over time. During volatility, the worst days in the market are often closely followed by some very good days.

Welcome to Saw Creek Estates.

Saw Creek Estates was voted the #1 gated community for vacation and full-time residents. We are known to have the finest amenities of any community in the Poconos. Amenities that cover the desires of all ages.

Summer and Outdoor Adventures When You Visit the Poconos

The weather is at its best between June and August, which explains why these are the peak months among visitors. Rain is sporadic, and it helps cool down the high temperatures. There's plenty to enjoy here from hiking and mountain biking to horseback riding.

1960s – 80s: Heart-shaped Tubs and Racing Stripes

In the 1980s, the growth of whitewater rafting, golfing, outlet shopping and other attractions further broadened the four-season appeal of the Pocono Mountains.

Overall, the Florida housing market is likely to remain strong in 2023, with continued demand for homes and steady price growth. However, the market may begin to stabilize as the growth rate slows down, which may lead to more balanced conditions between buyers and sellers.

Are home prices in Florida dropping or rising? Over the past few years, home prices in Florida have skyrocketed. Per Redfin data, in the middle of 2020, the median sale price was $275,600 — by April 2023, that figure had jumped to $400,800.

Frisco, Texas

Frisco, Texas, part of the Dallas–Fort Worth metroplex has been ranked the number 1 safest city to live in the U.S. It boasts the fourth-lowest violent crime rate and the sixth-lowest property crime rate.

What state has the best value for property? ›

The area has been experiencing steady growth in recent years, thanks to its proximity to popular tourist destinations like the Delaware Water Gap National Recreation Area and the Pocono Mountains. As a result, short-term rentals have become an increasingly popular option for both tourists and investors.

Pennsylvania housing market predictions

And with its relatively affordable median home sale price of $244,500, Pennsylvania is well positioned to attract prospective buyers from other, more expensive states.

What state has the highest ROI on real estate? The state with the highest one-year ROI on residential single-family homes is Arizona with 27.42 percent, according to iPropertyManagement data. The next two highest states are Utah with 27.05 percent and Idaho with 27.02 percent.

Poconos. The Borough of Mount Pocono recognizes a short term rental as all rentals (Airbnbs and otherwise) that are for less than 30 days. It requires all Airbnbs to be licensed. Each individual short term rental unit requires its own license and licenses are only issued in the name of the owner.

The lowest rental rates are usually found between October and April, particularly right after the December holiday season. Fewer people are interested in moving—the weather's bad, schools are in session, etc. So individuals renting between the months of December and March typically find the best rental bargains.

The region has by some estimates nearly 20,000 vacation homes and 7,500 licensed STRs.

In recent years, however, the Poconos have increasingly become popular as a place for East Coasters to get away and live! Whether they are looking for a vacation home, a primary family home, or a place to which they can retire, people are looking at the Poconos as an ideal place to build a home.

Employment of physician assistants is projected to grow 28 percent from 2021 to 2031, much faster than the average for all occupations. About 12,700 openings for physician assistants are projected each year, on average, over the decade.

How much does a house appreciate in 10 years? ›

A new study shows that home prices in the U.S. have increased by nearly 49% in the past 10 years. If they continue to climb at similar rates over the next decade, U.S. homes could average $382,000 by 2030, according to a new study from Renofi, a home renovation loan resource.

There are two main reasons. One is that cost for equipment, fuel, insurance, labor, management, utilities, etc. have increased significantly. Another reason is that there are fewer taxable properties. For example, over 50% of the properties in one area borough are currently tax-exempt.

In my opinion, real estate is one intelligent option to consider in 2023, as it often has excellent returns, tax advantages and provides diversification even in the face of a challenging economic climate. Real estate also has the potential to compound your investment.