Posted by Buying a vacation home has become all the rage these days. Work-from-home policies have left many people eager to leave the hustle and bustle of urban areas, resulting in an overwhelming increase in the demand for second homes.
If you’re looking for a second home or a vacation rental property, keep reading to find out the five best cities for a vacation home:
1. Gatlinburg, Tennessee
With an 8.6% cap rate and a median price of approximately $320,000, Gatlinburg is one of the best cities for a vacation home. The city has several attractions, including the renowned Skylift Park, where you can walk the longest suspension bridge in North America.
At the center of the bridge, 30 feet of see-through glass panels make up the floor, offering you an exhilarating view of the world below. But don’t worry if you’re not fond of heights, as you can still enjoy the breathtaking views from the SkyDeck.
Anakeesta adventure park is another big attraction that offers everything from exhilarating zip lines to cozy fire pits.
2. Scottsdale, Arizona
Located just outside Phoenix, Scottsdale offers desert-style homes with a median sale price of $513,301. The lush Sonoran Desert and sunny skies make it the perfect city for outdoor adventures like horseback riding, river rafting, hot air ballooning, off-road tours, and more. It also offers great shopping opportunities, when you need a break from the great outdoors. In Oldtown Scottdale, you can find it all: from local sweets and souvenirs to the top estate jewelry shop. Even if it’s just for window shopping, this activity can be an awesome part of a great holiday.
Whether you decide to buy a vacation home in Scottsdale for its Old Town quaint streets or its breathtaking Sonoran Desert, make sure you contact the best hard money lenders in Arizona before making your purchase.
3. St. Augustine, Florida
While most people visit St. Augustine for its wonderful beaches, some flock to the city for the European flavor and history it has to offer. Visit the Castillo de San Marcos to take a look at the oldest fort in the US or take a leisurely walk down the historic district.
This destination is also one of the best cities for a relaxing trip. Unwind on a sunset cruise or plan a trip to the St. Augustine Distillery if you want to see the best whiskey tour in Northern America.
4. Gulf Shores, Alabama
Along with being famous for almost every water sport, Gulf Shores also houses some of the most famous restaurants and bars that provide the perfect backdrop for your selfies.
Enjoy dinner at The Hangout Restaurant in Gulf Shores (the inspiration behind The Hangout Festival), and then hop over to Lulu’s, which is operated and owned by Jimmy Buffet’s sister, Lucy. Dance to live music and make unforgettable memories on the sprawling sandy beaches.
Although a vacation home in this city costs around $400,000, the 7.1% cap rate will help you offset costs.
5. Blue Ridge, Georgia
Any place that allows you to be in two different states at the same time is always a big plus, and Blue Ridge enables you to do just that. Have some fun with a photo op with one foot in Tennessee and one in Georgia.
After the obligatory photo session, dive into the thrilling activities and the beautiful nature sites the city has to offer. Chase any one of the numerous waterfalls located along famous hiking trails, catch some fresh fish for grilling, or climb on a horse to ride among the rolling hills.
If you’re a fan of apples, make sure you visit the city during the fall, as it hosts all sorts of orchard festivals as well!
Conclusion
With borders now open, the demand for epic, fun-filled vacations has increased significantly. In fact, the vacation rental market is estimated to grow into an approximately $63 billion space over the coming years. All this data indicates that now is the best time to own a vacation home.
Since a vacation home is a long-term investment, make sure that you choose the city that best suits your vacation needs!
