Buying a home on the North Fork?

Here are the things you need to know: The North Fork has always been a refuge, a place to recharge and relax, and during the pandemic, this has never been more true. The recent exodus from New York City has generated a record number of sales and year-round rentals. Potential buyers, often frustrated by the sellers market, need professional help navigating the myriad issues involved in home ownership in this rural community. From septic systems to development rights, it’s important to be informed about home ownership.

Let’s not forget what the North Fork does and does not offer. Not only is there no municipal sewer service but there are strict laws governing septic systems, especially now with the current research on the harmful effects of nitrogen overload on our bays. Homes in the villages can offer water hookups but outlying areas are dependent on wells which require maintenance and often filtration systems. Is the oil tank buried or can you access street gas for home heating? What are the required setbacks for a home addition? Do you have a legal Right of Way for beach access? Do you need to join a home owners association? What, if any, are the covenants and restrictions in your property deed? If you buy adjacent to farmland, are the development rights intact or might that land be subdivided in the future? What are the seasonal rental laws? Additionally, buyers might need to become familiar with local zoning laws, flood zones, waterfront property legalities, historical designation, and potential boundary issues before engaging in a real estate transaction.

This is why it is important that potential sellers and buyers work with a local real estate agent and a local attorney who can make them aware of the particulars of each hamlet to make an informed decision. On your own, you can visit various neighborhoods, talk to potential neighbors, ask questions, and even check out the local public and private schools. Perhaps you need help computing the costs of maintaining a second home year round. No one likes the surprize of unforeseen expenses—all easily avoided by working with local real estate professionals.

Yes, houses are now shown virtually, with beautiful virtual staging, and closings are being accommodated remotely, but this should not stop you from making the effort to safely visit the home in person, get an inspection or attend a closing. Remote closings are not fully operational in NY State or Suffolk County yet, original wet signatures are still required. While lenders, attorneys and title companies are finding creative ways to accommodate the needs of their clients, sellers and buyers should not make rush decisions and consult with their attorneys before making an important decision such as buying a home.