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Buying a Home in Water Mill, NY

May 25, 2023
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Are you considering buying a home in the quaint hamlet of Water Mill, New York? From hiking through enchanting Maze Park to strolling along the sand of W. Scott Cameron Beach, Water Mill offers a luxurious respite from big city life. In the following article, we explore why this charming town is an excellent choice for potential buyers.

Why Water Mill?

Nestled between Southampton and Bridgehampton, Water Mill offers peaceful greenery around every corner and a nearby shoreline teeming with soft sand and diverse marine life. If you are a prospective buyer, let’s delve into three compelling reasons you should seriously consider Watermill, NY, real estate. 

Quiet retreat

Experience an unparalleled atmosphere of calm and peace in Water Mill, a picturesque haven offering a respite from the chaos of city life. Envision yourself waking up to the gentle rustle of leaves, the chirping of birds, and the invigorating scent of nature. The area's picturesque surroundings, including its natural parks and lush landscapes, create an idyllic setting for relaxation and recreation.

Excellent schools

For growing families or those planning to start one, Water Mill's exceptional schools, such as The Hayground School, are a persuasive reason to call this hamlet home. Education is a priority here, with reputable schools delivering academic excellence and a nurturing environment for children. Invest in your children's future by giving them access to Water Mill’s top-quality education.

Beachside bliss

Water Mill's proximity to several terrific beaches sets it apart from other Long Island communities. Imagine the glistening Atlantic Ocean and sandy beaches merely a stone's throw away from your home. Water Mill's beach lifestyle offers fun and tranquility, whether you're a sunbather, a swimming enthusiast, or simply want to enjoy a long walk along the coast. Lounge beside the sea breeze, bask in the sun, and let the rhythm of the waves carry you away. Residing in Water Mill means the freedom to escape to the beach whenever you want.


Though small, Water Mill's neighborhoods contribute to its captivating allure. Each region possesses its unique charm and character. Several highly-desirable neighborhoods include:

Water Mill North

The epitome of luxury living, the Water Mill North district is renowned for its expansive grounds and opulent homes. Vintage Hampton grandeur comes to life in the area’s manicured lawns, grand entrances, and architecture, which exudes an atmosphere of elegance and distinction. Expansive lots are the norm, providing a retreat-like ambiance. For those seeking privacy, sophistication, and ample space, Water Mill North is the ideal neighborhood.

Water Mill South

The elegance continues in Water Mill South, heightened further by its near proximity to the beach. Here, residents can expect to encounter grand, traditional-style homes radiating history and newer constructions with state-of-the-art features. Popular attractions and high-end restaurants like Hampton Coffee Company and Bistro can be seen along Montauk Highway.

Which home will you choose?

A diverse range of real estate is available when buying a home in Water Mill, NY. Whether you prefer a spacious traditional-style home with classic architectural features or a more modern design, Water Mill has something to suit every taste and preference. Let's detail the three distinct types of homes you can find in this peaceful hamlet.

Traditional style homes

Step into the timeless charm of traditional-style homes exuding both warmth and elegance. These homes usually boast luxurious living spaces, high ceilings, well-appointed interiors, and intricate details. Experience the allure of sophisticated architectural elements like crown moldings, hardwood floors, and grand fireplaces. Traditional-style homes offer generous room for living, dining, and entertaining and mix functionality with classic design.

Modern style homes

Indulge in the sleek lines, trendy aesthetics, and innovative design characterizing Water Mill's contemporary homes. These residences often feature clean and minimalist exteriors, complemented by large windows that flood the interiors with natural light. You'll discover open floor plans, state-of-the-art amenities, and the latest modern technology. From chef-inspired kitchens to luxurious master suites, every aspect of these homes serves to provide a stylish and comfortable living experience.

Rustic-style homes

For those who seek a cozy and inviting atmosphere, Water Mill is known for its rustic-style homes embracing natural elements and elemental charm. These dwellings showcase exposed wood beams, stone accents, and earthy color palettes, creating a warm and welcoming ambiance. Imagine relaxing in a cozy living room of a restored farmhouse beside a crackling fireplace. Rustic-style homes offer a unique blend of comfort, character, easy familiarity, and dignity, perfect for those searching for a home with personality.

Housing costs

Because it’s an exclusive neighborhood predominantly consisting of high-end, luxury homes, the average asking prices for homes in Water Mill are usually in the multimillion-dollar range. Those entering the Water Mill real estate market must account for a large down payment and budget for closing costs, which range from 2% to 5% of the home's purchase price. While these percentages seem small, when applied to homes in Water Mill, they can be costly.

Property taxes in Water Mill can also run high. When budgeting for your new home in Water Mill, factor in the cost of homeowners insurance and any HOA fees associated with the property. Incorporating all these factors will help you make an informed decision and ensure you understand the financial aspects of purchasing a home in this desirable location.


If you need to finance your Water Mill home purchase, various types of mortgages are available to suit your specific needs. Traditional loans are a popular choice, offering competitive interest rates and flexible terms. In addition, eligible veterans can opt for veteran loans with attractive interest rates and low-to-no down payment options.

Saving for your dream home

When saving money to buy a home, it's crucial to employ effective, pragmatic strategies. First, devote time to researching mortgage lenders and shopping around for rates. Even minor interest deviations can amount to significant savings over the life of your loan. You should also streamline your search and save valuable time by getting prequalified for a loan. Consider making a higher down payment to lower your monthly payments and reduce long-term interest costs.

When you’re ready to look at Water Mill homes for sale, entrust your home-buying journey to a high-quality realtor with intimate knowledge of the Water Mill market, ensuring you make informed and advantageous decisions at every step of the process.

Finding your home in Water Mill

When entering Water Mill’s luxury real estate market, you’ll want to have an experienced, reputable realtor Christopher Covert at your side. Christopher's expertise and dependability have helped him secure luxury properties for countless Hampton residents. Call Christopher today to guide you through securing your Water Mill dream home.

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His comprehensive knowledge of the town and village codes and regulations, coupled with his ongoing study of market movement at both micro and macro levels enables him to provide the most detailed evaluation.

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