Vacation home purchases may have declined a bit in recent years, but there are still plenty of Americans who are looking for another place to call home.
If you’re interested in purchasing a vacation home, start your search by figuring out where in the country (or the world) you want to spend your vacations. Not sure where your vacation home should be? Keep reading.
Listed below are nine of the best places for vacation homes. No matter if you are a veteran world traveler, trying out AirBnB for the first time, or even a travel blogger, you should definitely keep these places in mind when considering where to take your next trip.
1. Palm Springs, California
Palm Springs regularly ranks as one of the best places to invest in a vacation home. There are tons of properties available, and the beautiful California weather makes it the perfect place for year-round outdoor fun.
As with most places in California, it’s definitely not cheap to live in Palm Springs. But, many homeowners find that they can easily cover the cost of the home by renting it out when they’re not staying there.
2. Puerto Vallarta, Mexico
If you live on the west coast, it only takes a few hours to fly down to Puerto Vallarta. You can take a trip to your vacation home and spend a weekend (or longer) on the beach whenever you want without a lot of extra planning or travel time.
Since Mexico is such a hot vacation destination, it’s easy to rent out your vacation home when you’re not there.
Before purchasing a home in Mexico, keep in mind that the property will be placed in a special bank trust known as a fideicomiso. This allows non-nationals to both use and have control of a property.
3. Panama City Beach, Florida
The state of Florida is a great place to visit, and Panama City Beach is one of the best places in the state to purchase your vacation home.
Not only will you be right by the beach when you stay here, but you’ll also get to enjoy low real estate costs.
Keep in mind that prices are expected to rise in the near future, though. If you’re considering purchasing a home here, now is the time to act!
4. Brittany, France
Who doesn’t want to be able to say they have a vacation home in France?
Brittany, located in the northwest region of the country, is known for its cozy cottages, lush forests, and picturesque coastline.
Brittany is also located about four hours away from Paris, so you can still take in some of the tourist attractions before returning to relax at your vacation property.
5. Myrtle Beach, South Carolina
When most people think of vacation homes, they think of Florida or California. There are plenty of locations where you can consider purchasing a home, though.
Homes in Myrtle Beach are incredibly affordable. When you live here, you get to enjoy some southern charm, a beautiful beachfront home, and access to several incredible celebrity-designed golf courses.
6. Samana Peninsula, Dominican Republic
The Dominican Republic is a fun and economical place to live if you want to vacation in the Caribbean on a regular basis.
The Dominican Republic typically appeals to expats and retirees, but anyone who wants to enjoy paradise will love living in here in a beautiful, postcard-worthy vacation home.
7. Killington, Vermont
Beach vacations are nice, but it can also be great to get out of the city and away to the mountains.
If you’re looking for a quiet vacation home that allows you to enjoy some peace and quiet, commune with nature, or hit the slopes, a home in Killington, Vermont is a wonderful choice.
Homes in Killington are incredibly affordable, too. If you’re on a tight budget and aren’t too concerned with a beachfront property, a home here is a good alternative.
8. Cape Cod, Massachusetts
A vacation home in Cape Cod might seem a bit cliche, but it’s a favorite getaway for New Englanders for a reason.
Cape Cod gives you an opportunity to spend time by the beach and relax in a beautiful cottage or historic home.
There are also plenty of other indoor attractions to take in — including museums and the wildlife refuge — for days when the beach doesn’t call to you.
9. Algarve, Portugal
Finally, another great foreign location for a vacation home is Algarve, Portugal.
Located on the edge of some of the most incredible beaches you’ve ever seen, Algarve is the perfect place to retreat to when you want to enjoy year-round sun and warmth.
You might even bump into celebrities like Madonna while you’re here!
Tips for Finding the Best Vacation Homes
These are all great places to consider purchasing a vacation home. But, choosing the location is only half the battle.
Keep these additional tips in mind to simplify the process of purchasing your dream vacation home:
- Rent before you buy: Consider renting a vacation home for a trip or two before your purchase so you can make sure you really like the location.
- Buy under budget: Remember, you’re buying a vacation home to relax, not to get another stressful, expensive mortgage.
- Work with a realtor: A realtor can tell you more about the location and help you find the best home for your budget.
Finally, remember that there are some very specific tax implications associated with owning a vacation home.
If you rent it out during the year, you’ll have to pay taxes on that income. Your property taxes might also be higher than the property taxes for your other home, depending on the location in which you choose to buy.
Want to Learn about More of the Best Places for Vacation Homes?
As you can see, there are plenty of great places all over the world that would make a great location for your vacation home. And, this list just scratches the surfaces.
Do you want to learn about more of the best places for vacation homes? If so, check out the travel section of our site today.
You’ll find tons of great inspiration for your next vacation. You’ll also find lots of helpful travel tips and tricks that will ensure your vacation goes as smoothly as possible.