Monday
November 24, 2014

7 Best Places to Buy a Vacation Home

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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.

5. Destin, Fla.
Average rents: $900 to $2,500 for a three-bedroom/two-bathroom home with a private pool and access to a private beach.

6. Myrtle Beach, S.C.
Average rents: $1,200 to $2,650 per week for a five-bedroom/four-and-a-half bath house, located in the family friendly beach area of Surfside.

7. Ocean City, Md.
Average rents: $700 to $3,500 for a three-bedroom/two-bathroom town house with an ocean view.

Source: “Best Places in U.S. to Buy a Vacation Home,” MarketWatch (Aug. 8, 2013)

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