Why people are having trouble turning their second homes into dream homes

This article is reprinted by permission from The Escape Home, a newsletter for second homeowners and those who want to be. Subscribe here. © 2021. All rights reserved.

“People have more time in their house to notice what they don’t like and what they want done differently,” said Jared Loveless, president of Vector East Ltd., a general contractor based in the North Fork of Long Island outside of New York City. “Nothing was much of a problem and now everything is a problem,” he said. “One of the reasons shortages are acute now is that demand is so strong. The supply constraints are really hurting…. People are looking for more spaces and homes that can accommodate more activities.”

In jurisdictions that require permits for certain projects, chaos can often ensue, with limited personnel working limited hours. One upside of the pandemic—if you can dare to say there is one—is that people have saved money from not commuting to work, not dining out as much and not vacationing.The heated market for second homes also created a situation where many properties in neighborhoods that were built in the 1960s or even before were put up for sale, sometimes for the first time since they were built.

“The second home market has been redefined as the primary home market because so many people have had more flexibility with their work,” Petersheim said. “All the things that didn’t matter when you were lightly using your home quickly become annoyances and impediments as you convert it into a vital tool for your live-work experience.”

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