If you are considering buying a property as an investment and income source as a vacation rental, you might be wondering where the best place is to buy one. In fact, there are areas across the entire United States which are suitable for vacation rental property purchases, so a few things to keep in mind when making your choice are:
- Double check that vacation rental is permitted in the area where you buy the property – some local regions don’t allow it.
- Consider buying a vacation rental property that is within easy driving distance of where you live – if there are problems that need to be sorted out, it is a whole lot easier (and often cheaper) if you are not too far away.
- Think about whether or not you, or people you know, would enjoy vacationing in the area. If you would like it, the chances are good that there are plenty of other people out there who would also like to vacation there.
- Think about the seasonal aspects of the destination – if it is a winter destination, for example near a ski resort, is it also popular in summer or might it be difficult to rent off-season? Even if it is, consider if the higher rental income during the peak season compensates for this.
- Check the visitor statistics at the local tourist bureau or chamber of commerce to be sure that plenty of tourists visit the area.