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Luxury second homes: striking styles with all the amenities of the first.

Publication: Westchester County Business Journal
Publication Date: 26-SEP-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
As sales of luxury second homes continue to make major gains in the national and local real estate market, that rustic "cottage at the lake" can now just as easily be a large luxury dwelling with all of the amenities of year-round living, from a stainless steel kitchen to a master suite with a Jacuzzi.

Across the country, 36 percent of all homes sold last year were purchased as second homes or as an investment and many of them fell into the luxury category.

Communities are being transformed by a boom in second-home purchases and new construction is fueled by affluent couples of all ages, many still in their 30s.

EAST COAST PREFERRED

Experts say that there are several factors driving the market, including aging, wealthy baby boomers approaching retirement age, heightened interest in real estate investing and the psychological boost of...

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