7 Best Places to Buy a Vacation Home
Many buyers are still seeing plenty of opportunities with buying a vacation home, says Tom Gilmore, chief executive and founder of VacationHomeRentals.com. The home can even turn into a money-maker for those who choose to rent them out.
Twenty-three percent of buyers said they plan to rent out their recently purchased second home, according to a National Association of REALTORS® survey on the second home and vacation home market.
MarketWatch reports that the following are some of the best vacation home hot-spots, based on the potential return from renting, provided by VacationHomeRentals.com.
1. Kissimmee, Fla.
Average rents (from VacationHomeRentals.com): $2,800 to $4,100 per week for eight-bedroom home located five miles from Disney World.
2. Cape Cod in Massachusetts
Average rents: $1,200 to $3,500 per week for a three-bedroom/one-bathroom oceanfront house.
3. The Poconos in Pennsylvania
Average rents: $2,100 to $2,450 per week for a three-bedroom/three-and-a-half bathroom house.
4. Outer Banks, N.C.
Average rents: $595 to $3,495 for a four-bedroom/three-bathroom home.