She had immediate sticker shock and decided to rent in the city but invest in more affordable markets.Julia Lemberskiy has always been captivated by home design.
She also would prefer to spend her cash on a bunch of cheaper, fixer-uppers that she could add value to rather than putting all of her money into one or two nicer, more expensive properties. Her strategy has evolved over time. When she first decided to buy property, she figured she'd own where she lived — in New York City — but a couple of Zillow searches"ruined my appetite for buying something in New York for quite a while," she said.the most expensive housing market in the US
Ultimately, Lemberskiy couldn't justify buying anything in New York City, she said:"Thinking about it as an investor, prices are already so high. How much higher can it get?"the priciest rental market in America She decided to buy a home in an area where she could see herself living. In the early pandemic days, that was upstate New York.
That's what led to the idea of only staying in it occasionally and renting it out on Airbnb, which she's been doing since 2022. She closed on the beach house in September 2021. It was already occupied with a tenant and remained a long-term rental until January 2023, when she first started listing it on Airbnb.