Submitted by ChefOk8428 t3_z3jf4i in vermont
No-Ganache7168 t1_ixo5slx wrote
No. I live in a small town that wasn’t discovered by second homeowner wannabes until Covid-19. 10 years ago one of my mom friends bought a 100-year-old fixer upper here for $200,000. Now, people are snatching up fixer uppers half the size with no charm for over $300,000 and paying with cash.
According to the local paper 1/3 of the Hines sold last year we’re bought with cash as investment properties or second homes. There’s even an LLC from NJ that has bought a few homes recently to tear them down and build townhomes or apartment buildings. I think it would be very hard to move here without a large amount of cash.
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