This is the best place to buy a vacation home
The COVID-19 pandemic has triggered a migration from major cities along the U.S. coast to places inland. One of the reasons is the cost of real estate in places like New York, Los Angeles, San Francisco, and San Jose. Another is that more people can work from home. Many companies now allow either hybrid work systems, in which people can split their time between home and office, or systems in which people do not have to come to the office at all.
Some people are not looking to move out completely, but are looking for a second vacation home where they can spend all or part of their time. Real estate rental company Vacasa has just published its fourth Top 25 Best Places to Buy a Vacation Home report, finding that based on the rate of return on investment, the best place to buy a vacation home is Gatlinburg, Tennessee.
by Vacasa 2021 Vacation Rental Buyer Report also found that nearly 70% of second home buyers made their first purchase this year, and many of those homes will be used as rental properties. More than a third of buyers want to spend less than $ 399,000, which is more than the median price of all homes in the country. Customer demand for rentals has also increased. here is the most expensive countries to rent a one-bedroom apartment.
Gatlinburg, Tennessee, which is near the Great Smoky Mountains National Park and southeast of Knoxville, is the city with the highest return on investment for second homes. The city with the second best performing is St. Augustine, Florida, which is the oldest city in the country, founded in 1565. It lies along the east coast of Florida, south of Jacksonville and north of Palm. Coast.
The third on the list is Gulf Shore, Alabama, which is southwest of Mobile. It is followed by Dauphin Island, Alabama, which is nearby, then Norris Lake, Tennessee, which is east of Nashville, along the Kentucky border. Most of the places on this list tend to be near water bodies or other points of interest. They were the most visited American national parks in 2020.