Summer days are dropping like the gold, brown and red leaves of fall. School has started for students across the nation, and vacation days are becoming few and far between. But why not plan ahead and think about investing in a property that could bring both memories and lucrative situations?
While it might be almost autumn, winter is also not too far off. It might be the best time to buy an investment property, in fact.
It doesn’t hurt to do a little research if the idea of buying vacation home is tickling your brain. Just to get you started, and without recommendation, here are some of the best recent tips on buying a vacation home from top publications:
- Investopedia: In an article dated on June 25, Investopedia's rundown of top ten features of a profitable rental property include criteria such as neighborhood vacancy rate, property taxes, crime, natural disasters, and future development. This can be applied to vacation and general rental properties.
- AIRDNA: In January, this publication took into account rental demand, revenue growth, seasonality, regulation and investability when picking out the best places to buy vacation rental property in the U.S. They listed the absolute best places to buy a vacation home in 24 states, and in Washington D.C.
- USA Today: Need a top 50 list of best places overall? USA Today Travel published a compiled list from Rented.com of which cities provide the best ROI (return on investment) for vacation rental properties.
- Evolve Vacation Rental: Median annual rental revenue, median home price and cap rate were taken into account in this list of top places to invest. One part of list even mentions: “Our data also shows that homes with hot tubs, fire pits, and decks typically perform better than average.” Their data shows that.