Who Wants To Share This Place With Me?

Here’s an idea we’ve been batting around: buy a spectacular, slightly unaffordable place in the Catskills with, say, three other families. Each of us gets it for 13 weeks a year, with the option to rent it out any of those weeks to cover the mortgage. Yes, we know it’s rife with possibility for disaster, not to mention surfing the complications of tenancy-in-common. And who gets it for Christmas and Labor Day weekends?

All those details aside, this place is dreamy (sorry you can’t see much of it without registering on the site, but we’ll describe it for you here). It’s right at the bottom of the Shawangunks, south of Ellenville. Seven bedrooms, 7,000 square feet and 28 acres, all for $335,000. Did we mention the part about needing a fairly serious renovation? Well, yes, that complicates things, but even with $165,000 of work, it’s a fairly reasonable deal for four families. I mentioned the idea to several folks who said having it 13 weeks a year meant they wouldn’t feel guilty about occasionally vacationing elsewhere. We’re curious if other folks have tried this, where, and how it’s working out. Let us know.

Oh, and, right: wanna split this place with me?

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Posted on May 17, 2011, in Catskills, Cragsmoor, Second Homes, Ulster County and tagged , , , , , , . Bookmark the permalink. 3 Comments.

  1. I love how this house looks perfect for parties but also like a haunted house from Scooby Doo. Anyone have any experience buying a house with friends?

  2. I had friends who split a weekend house between them (1 single woman and 1 family, one $150k house). It was wonderful and idyllic until the single woman got engaged and was pressured into selling by her husband. Serious bad feelings ensued and the they’re not friends anymore.

    If you do this, create contracts and plan for people leaving or bailing out by perhaps requiring a penalty or continuation of payments until a new tenant is found.

  3. post some pics of the arts and crafts houses in cragsmoor not this big white elephant.

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