Introduction to the Hamptons Real Estate Market
The demand for new-construction homes in the Hamptons is on the rise, driven by busy buyers seeking turnkey satisfaction. Brokers report that the desire for hassle-free living is fueling the surge in demand for newly built properties.
Characteristics of New-Construction Homes
Buyers are looking for homes that are ready for immediate occupancy, with all the modern amenities and features. The seven-bedroom new-build at 172 Cranberry Hole Road in Amagansett is a prime example, offering 8,200 square feet of living space, a saltwater pool, hot tub, tennis court, and sun deck, as well as an outdoor kitchen, dining area, bar, and fire pit.
This property, listed for $12.5 million, is a testament to the luxury and convenience that new-construction homes in the Hamptons have to offer.
Target Market for New-Construction Homes
According to brokers, the demand for new construction is coming from families with young children who want to live a healthy, low-key life. These families are looking for homes with minimal maintenance, where they can spend quality time with their loved ones without worrying about renovations or repairs. Additionally, families from California or Florida with kids and grandkids living in New York are also driving the demand for new-construction homes, as they seek a hassle-free vacation spot for family gatherings.
Market Trends and Predictions
The current low inventory and increasing cost of materials are expected to drive up prices for new-construction homes in the Hamptons. Douglas Elliman broker Thomas Cavallo notes that the cost of lumber, which is largely imported from Canada, will increase due to trade wars, making new construction more expensive. As a result, buyers are advised to act quickly to secure their dream home before prices rise further.
Featured Properties
Several new-construction properties are available in the Hamptons, offering a range of amenities and features. The eight-bed, 10-bath home at 5 Widow Coopers Path in North Haven, listed for $11.99 million, boasts a sprawling wellness center, home cinema, and resort-style heated pool. In Westhampton Beach, the six-bed, eight-bath "Nordic Modern Beach Home" at 774 Dune Road, listed for $8.75 million, offers a heated gunite pool, cabana, and chef’s kitchen.
Conclusion
The demand for new-construction homes in the Hamptons is on the rise, driven by the desire for turnkey satisfaction and minimal maintenance. With prices expected to increase due to low inventory and rising material costs, buyers are advised to act quickly to secure their dream home. Whether you’re a family looking for a healthy, low-key lifestyle or a buyer seeking a hassle-free vacation spot, the Hamptons have a range of new-construction properties to suit your needs.
FAQs
Q: What is driving the demand for new-construction homes in the Hamptons?
A: The demand is driven by busy buyers seeking turnkey satisfaction and minimal maintenance.
Q: What types of buyers are driving the demand for new-construction homes?
A: Families with young children and families from California or Florida with kids and grandkids living in New York are driving the demand.
Q: How will trade wars affect the cost of new-construction homes?
A: Trade wars are expected to increase the cost of materials, such as lumber, making new construction more expensive.
Q: What amenities can buyers expect in new-construction homes in the Hamptons?
A: New-construction homes in the Hamptons often feature modern amenities such as saltwater pools, hot tubs, tennis courts, and home cinemas.
