The real estate crash in 2008 scared many away from investing in the real estate sector. However, the industry is slowly regaining its lost glory, and the banks, too, are becoming less cautious about providing the average American with loans for investing in real estate. This makes it a good time to make an investment.
One of the ways that you can invest in this industry is by renting out vacation homes. Many people prefer to stay in their own vacation homes rather than hotel rooms. It offers people more flexibility and lets them enjoy their vacations better. This is why it such a venture would be a good investment. Here are some of the most popular places to invest in vacation rental homes:
Lake Arrowhead, California
This particular spot is a haven for those who want to escape from the busy city life. There are many outdoor activities for those who enjoy some fresh air, and the scenery is also simply breathtaking. The average price of a home in Lake Arrowhead is almost $400,000 – it has seen a 13.2 percent change since 2012. In addition to the views and the plethora of activities, the weather in this region is also guaranteed. There is a total of 310 days in the year where the sun shines on Arrowhead.
Park City, Utah
One of the reasons why this destination is such a hotspot is because of the snowfall during the wintertime. Park City turns into a hot ski resort during the winter and is a popular location for many winter sports enthusiasts who descend upon the area, hoping to catch some powder. The picturesque mountains and scenery also add to the idyllic imagery of Park City. During the warmer months there is still plenty to do with many outdoor activities available. It is also a cultural epicenter, home to the Sundance Film Festival. The median price of a home in this city is a little over $500,000. There are several peak months when people decide to visit Park City. The Lange Group, in particular, have experienced a great level of success with real estate in this region.
Panama City Beach, Florida
One of the reasons that Panama City Beach is a great investment is because there is no shortage of people who vacation in this area. The cooperating weather and a myriad of things to do ensure that there is a steady stream of people trickling into the town. In addition, it is also one of the most popular spring break destinations in the world. You can always ensure that there will be great demand for rental spots at this time of the year. Families and individuals alike are inevitably drawn to this sunny stretch of beach in Florida. The median price of a house in Panama City Beach is a little over $240,000.
These areas are just 3 locales in the States that are bound to give you the greatest return on your investment. They are popular throughout the year and also highly prized locations due to the variety of events that occur.