30 EXPERIMENT STATION BULLETIN 344 



state of repair and contained more modern conveniences at the time of 

 purchase than did other rural properties, so they required less improve- 

 ment after purchase. 



Expenditures for Acquisition and Improvement 



Investments in summer homes varied with location, size, state of 

 development, methods of acquisition, and the use of hired labor in im- 

 provement. The apportionment of expenditures between acquisition and 

 improvement likewise differed among individuals and classes of proper- 

 ties. Some persons acquired well preserved and equipped homes, need- 

 ing only minor outlays for improvement. Others preferred neglected 

 and unimproved properties which could be restored to suit personal 

 tastes. Price data were furnished by only one-third of the summer resi- 

 dents interviewed, but these were judged to be representative of the 

 larger sample. 



Prices paid for open country summer homes have been relatively 

 low, because of the neglected condition of rural properties and the ab- 

 sence of strong alternative demands. Nearly half of the open country 

 properties were purchased for $1,000 or less, and only one-quarter for 

 more than $2,500 (Table 10). Price varied directly with size of property 

 and number and condition of buildings. 



Waterfront sites commanded higher land prices per acre, but the 

 absence of improvements and the smaller size resulted in lower original 

 outlays for waterfront properties. Improved sites commanded the higher 

 prices (Table 10) because of the value of buildings and conveniences. 

 Waterfront lots usually are sold at a prevailing price per front foot, plus 

 the value of buildings and other improvements. The depth of lots is a 

 secondary consideration. On Hermit Lake in Sanbornton, properties 

 were reported between one and two dollars per front foot. On better 

 known Winnisquam and Winnepesaukee, purchases ranged from two to 

 ten dollars per front foot. Winnisc]uam lots generally were below $500, 

 while Winnepesaukee lots were above this figure, reflecting both a larger 

 size of lots and a higher frontage value in the latter case. 



