This Is The Number One Place To Buy A Vacation Home In America
Thinking about turning that nest egg into a weekend retreat or investing in some beachy real estate? Turns out the smartest place to buy a vacation home in America is pretty much where you expected.
Rented.com has just revealed the best and worst spots to purchase vacation property, and the top spot isn’t terribly shocking. Panama City, Florida is the best place to invest in a holiday home. Affordable cost of living, low taxes and cheaper maintenance costs combined to secure this Sunshine State city the win.
However, the top five places did include some surprises. Chicago, Illinois came in second, followed by Napa, California and Tulsa, Oklahoma. Memphis, Tennessee rounded out the best of the best.
The report also highlighted the fact that buying vacation homes in the southern U.S. is usually a smart move. However, tried-and-true resort areas like Palo Alto and Martha’s Vineyard have become so pricy and rental-regulated that Rented.com doesn’t suggest buying a vacation home in these spots.
For more ways to maximize your travel dollars, check out the best and worst days to fly this spring.