The rise of people working remotely has led to an overwhelming demand for vacation homes in small towns across the country. These communities are also becoming more popular with out-of-towners who are looking to purchase a second home.
According to Philip White, CEO of Sotheby’s International Realty, the low-interest rates are also contributing to the increasing demand for real estate. This has led to record-breaking sales in various regions. But what are people looking for in their vacation homes?
One of the most important factors that people look for when it comes to choosing a vacation home is proximity to water. This is especially true in areas such as Colorado’s Grand Lake or the Gulf Coast. Aside from these, other factors such as the variety of natural attractions and world-class dining are also important. Here are some of the best places to buy a vacation home in the United States.
Bend – Oregon
The beautiful town of Bend is located in Oregon, and it has the state’s highest average sunny days. It is also one of the most sought-after vacation destinations in the country.
This town is known for its variety of outdoor activities, such as its hundreds of miles of biking trails and thousands of miles of snowboarding and skiing trails. It also has several craft breweries and five wineries. If you’re not a fan of the outdoors, but still want to experience some high-end wine, you can also find plenty of these in the town.
If you’re planning on visiting this beautiful town, it’s important to act fast as the real estate market in Bend is currently hot with only eight median days on the market.
St. Augustine – Florida
The city of St. Augustine is known for its unique mix of architectural styles and vibrant arts community. This is one of the main reasons why people flock to this area when it comes to vacation homes.
A rental management company based in Portland, Oregon, named this town as one of the best vacation rental locations in the country. According to Vacasa, the average gross rental revenue of properties in this area is $46,557. This means that even if you don’t plan on using your vacation home much, you can still earn a steady income by renting it out.
Wailea – Hawaii
It’s no secret that people flock to the beautiful town of Wailea when it comes to looking for a permanent vacation spot. With five beaches, a variety of hiking trails, and world-class golf courses, it’s no wonder that this area is an ideal investment.
Unfortunately, the market in this area is currently hot, and it’s important to act fast to get the best deal possible. According to a report by MauiRealEstate.com, the average cost of homes in this area has increased by 55 percent this year. The most popular areas in town are the Wailea Kai and the Wailea Pualani.