{"id":8492,"date":"2021-03-27T06:05:02","date_gmt":"2021-03-27T06:05:02","guid":{"rendered":"https:\/\/www.piczasso.com\/?p=8492"},"modified":"2021-03-27T06:05:02","modified_gmt":"2021-03-27T06:05:02","slug":"what-is-the-best-place-to-buy-a-vacation-rental","status":"publish","type":"post","link":"https:\/\/www.piczasso.com\/what-is-the-best-place-to-buy-a-vacation-rental\/","title":{"rendered":"What Is the Best Place to Buy a Vacation Rental?"},"content":{"rendered":"

Over the past handful of years, the vacation rental industry has thrived. And experts believe this trend won’t slow anytime soon. By 2024, many think the vacation rental industry will top $62.7 billion.\u00a0<\/span><\/p>\n

Of course, the coronavirus has impacted many areas of travel and hospitality. Yet, rental properties have rebounded rapidly.<\/span><\/p>\n

Why? Because of <\/span>shifting vacation behaviors in 2020<\/span><\/a>. Today, short-term rental property investment has never looked more lucrative.\u00a0<\/span><\/p>\n

After all, cabin fever has reached an all-time high. And travelers want to hit the open road.<\/span><\/p>\n

Where’s the best place to buy a vacation rental? Keep reading for our comprehensive guide to buying a vacation rental.\u00a0<\/span><\/p>\n

The Best Place to Buy a Vacation Rental<\/b><\/p>\n

The American road trip is back in full force. While people are jonesing for a vacation, avoiding crowds remains a top priority. Travelers nationwide remain in hot pursuit of the stress-free beauty and fresh air only Nature can offer.\u00a0<\/span><\/p>\n

There’s never been more demand for “hidden gem” properties and locations. Travelers are after small-town experiences. As a result, there’s never been a better time to invest in some of the country’s quaintest vacation rental destinations.\u00a0<\/span><\/p>\n

What criteria should you consider when looking for the best place to purchase a vacation rental property? Consider factors such as:<\/span><\/p>\n

\n
Estimated annual expense to run a vacation rental<\/span><\/li>\n
2020 median home values<\/span><\/li>\n
Vacation rental performance metrics<\/span><\/li>\n<\/ul>\n
You should also pay attention to a property’s ability to outperform market expectations. In other words, find a property that maximizes income. Choose wisely, and you stand to surpass even the market’s projected revenue.<\/span><\/p>\n
Let’s take a closer look at top picks for investment properties in 2021 and beyond. Each of these properties performs well in the areas outlined above.\u00a0<\/span><\/p>\n
The Catskills, New York<\/b><\/p>\n
Located a few hours north of New York City, you’ll find the Catskills. A lush mountain range, the Catskills are punctuated by idyllic small towns.<\/span><\/p>\n
Scenic natural landscapes prove plentiful. But travelers also come in droves to visit area restaurants, distilleries, and even cider orchards.\u00a0<\/span><\/p>\n
Guests will enjoy endless outdoor recreational options. They can also take advantage of family-friendly activities and romantic getaways. There’s something for travelers of every stripe and age.\u00a0<\/span><\/p>\n
From eclectic Woodstock to pastoral Margaretville and the “gem of the Catskills,” Windham, the perfect investment community awaits. But if you’re considering real estate in this market, you should act fast. Over the past two years, the area has witnessed 40 percent growth.<\/span><\/p>\n
Cape Coral, Florida<\/b><\/p>\n
Are you interested in a beach vacation rental? If so, check out Cape Coral. Located on the Gulf of Mexico, you’ll fall head over heels with this quaint coastal haven, renowned for its sandy coves and ocean views.<\/span><\/p>\n
Nearby aquatic and ecological preserves provide chances to experience Florida’s rich biodiversity. From kayaking to bird watching and fishing, outdoor activities prove plentiful.\u00a0<\/span><\/p>