US: Vacation rental management platform Vacasa has published its second annual Top 25 Best Places to Buy a Vacation Home report, highlighting the best U.S. destinations to invest in a rental property.
According to a 2019 study conducted by Vacasa, 65 per cent of people actively in the market to purchase a vacation home have yet to decide exactly where to buy. Vacasa’s Top 25 Best Places to Buy a Vacation Home report is designed to help buyers seeking to invest in a vacation home by providing useful data, including cap rate, net operating income and median home cost.
Senior director of real estate, Shaun Greer, said: “Buying a vacation rental property requires more consideration than simply where you’d enjoy owning a vacation home that you could visit a few times a year. If you are seeking to maximise your investment, you’ll need to familiarise yourself with markets that have a strong rate of return, consistently high occupancy rates and local regulations.”
To determine its ranking of top markets, Vacasa analysed home sales data in vacation destinations throughout the country, and overlaid it with actual performance data for thousands of U.S. vacation rental properties.
The top ranking markets included vacation destinations in popular regions around the country.
Seiverville in Tennessee and Whittier in North Carolina represented the Smoky Mountains, while Florida destinations took three of the top ten spots. The top ten list rounded out with West Coast towns Fort Bragg in California, and Big Sky in Montana.
1. Sevierville, Tennessee
2. Killington, Vermont
3. Davenport, Florida
4. Whittier, North Carolina
5. Kissimmee, Florida
6. Dauphin Island, Alabama
7. Myrtle Beach, South Carolina
8. Key West, Florida
9. Fort Bragg, California
10. Big Sky, Montana
Launched in July 2018, Vacasa Real Estate claims to provide unbeatable service for buyers and sellers of vacation homes.
Within seven months, Vacasa Real Estate opened brokerages in 11 key vacation rental markets including Key West, Florida, Lincoln City, Oregon, McCall, Idaho and Scottsdale, Arizona, among others. By the end of this year, Vacasa Real Estate expects to have a total of 200 agents covering 25 key markets, in addition to the 1,400 agents in its Expert Agent Network.
Buyers who are interested in determining vacation rental earning potential for a specific property can utilise Vacasa’s Vestimator tool, and can also access several resources on buying a vacation home.