As the economy is getting better, people are looking into real estate again. Even though a lot of us are not happy with how slowly its moving, the bottom line is that the U.S. economy is slugging along and incrementally getting there. The National Association of Realtors said that, compared to 2011, the real estate market has grown 10%.
For some of the more affluent investors out there, this is a good opportunity to buy a second home for vacation. If you’re looking to buy a vacation home somewhere, there some great markets emerging right now. Here are six of them.
When you think about Hawaii, you probably think about honeymoons, romantic getaways, or mainly a couples paradise right? Well this isn’t only a nice place for honeymooners, but it’s a very beautiful city for families as well. Buying a vacation home in Oahu will become profitable to the buyer, because the buyer can rent this house out all year long. Use it for tourists and enjoy the benefits of that home when its their time to vacation.
So not only are you investing in the vacation spot, you can guarantee a profit from it. As mentioned earlier, there are things for the family as well; Oahu recently did a survey and it was said that Pearl Harbor is named one of the most visited places by families with children under 18. You probably would have never have guessed that and its good information to know, especially for parents trying to find cool places to take their kids.
Gatlinburg, Tennessee is next on the list. To be quite frank, you may never have heard of this city, but after doing more research, you’ll realize this city provides a beautiful natural feel. Gatlinburg is a city great for people who enjoy the outdoors. This city is right between the border of North Carolina and Tennessee, which is where the Smokey Mountains National Park is located and the #1 visited National Park. The homes there are very reasonable with a median price starting at $180K.
Big Bear Lake, California
If you’re the type of person that loves to spend your vacations in the cold weather Big Bear Lake, California made the cut for best cities to own a vacation home. Big Bear Lake is located near St. Bernardino, the weather is exceptionally gorgeous with clear skies this city offers great winter sports like skiing, snowboarding etc. Homes range from as low as $200k up to more than one million dollars.
Ocean City, Maryland
For vacation home buyers, this city provides different properties, including some with oceanside and bayside locations. Buyers that are looking for investment as well should really look into buying a property here. This city is also family friendly, during the summer they offer a bunch of “free” activities for the family. They have concerts on the beach, laser light shows, and free movies under the stars.
The Poconos in Pennsylvania
This city is well-known for people who live up north and deal with a crazy city life-like Manhattan. This is a nice getaway for them, because it’s so peaceful and provides you with a great outdoor feel. There are many activities to do for all ages: Among the most popular of these is hiking and bike riding but they also have amazing outlets for the shoppers and even theatres and concerts. This vacation area is considered more of a laid back relaxing place for those looking for that feel.
This is one of the most popular cities to buy a vacation home because it is so close to all the theme park in Florida. This city is literally 10 minutes from Disney, which is super busy year around. So if you think about it, not only is this a wonderful place to visit, but your investment can sky-rocket if you were to rent it out during peak season.
On top of this city being one of the most popular for tourists, Kissimmee is also known for its downtown area with crazy sports fan like the Orlando Magics, Miami Heat, and The Miami Dolphins. For viewing these teams comfortably in your own vacation home, you should compare DIRECTV and Dish to choose what’s best for your needs.
So here are the top six best cities to own a vacation home. Some browsers may love the cold weather so Big Bear Lake and the Poconos in Pennsylvania suit them best. Then for those interested in family events, especially for kids under 18, you have the choice of Kissimmee, Oahu, and Ocean City. Whatever city you choose, it’s always best to keep in mind what best suits you or your family.