Jay Fergusonjay@deepcreekvacations.com301-501-0420
Menu

The 10 Best Places To Buy a Vacation Home in 2021

Gabrielle Olya From GOBankingRates

If you’ve thought about buying a second home as a vacation property, now may be a good time to do so. According to a recent report by Redfin, second-home buyer demand is slowing down, which will open up more affordable inventory for those still in the market. And while buyer demand for second homes is decreasing, guest demand is still high, which is great news for those looking to make rental income off their vacation home, Vacasa reported.

According to a recent Vacasa survey, most prospective buyers interested in purchasing a second home are looking to spend under $399,999, and 46% hope to generate rental income ASAP. Fortunately, many of the top places to buy a vacation home in 2021 — as determined by Vacasa based on home sales and vacation rental performance data from the last 12 months — meet these qualifications.

Take a look at the top 10 vacation rental markets.

  1. Ludlow, Vermont
    Median home price: $346,950
    Annual gross rental revenue: $42,638
    Vacation rental market cap rate: 5.2%
    Ludlow appeals to vacationers with a love of the great outdoors, with Okemo Mountain Resort and Buttermilk Falls located nearby. With a relatively high vacation rental market cap rate, this New England locale earned the No. 10 spot on Vacasa’s ranking.

  1. Seaside, Oregon
    Median home price: $466,086
    Annual gross rental revenue: $45,249
    Vacation rental market cap rate: 5.2%
    This coastal town is easily navigated by walking or biking, and is home to a 100-year-old promenade. Water enthusiasts can do plenty of surfing or kayaking here as well.

  1. Deep Creek Lake, Maryland
    Median home price: $439,367
    Annual gross rental revenue: $51,031
    Vacation rental market cap rate: 5.7%
    Deep Creek Lake is home to the state’s largest inland lake for boating, tubing and waterskiing. During the winter months, it’s a great place for skiing, snowboarding, snowshoeing and even going for sleigh rides.
  1. Palm Springs, California
    Median home price: $539,370
    Annual gross rental revenue: $52,784
    Vacation rental market cap rate: 5.9%
    Palm Springs is an ever-popular vacation destination on the West Coast thanks to its mid-century modern homes and thriving downtown restaurant scene.

  1. Blue Ridge, Georgia
    Median home price: $290,934
    Annual gross rental revenue: $38,266
    Vacation rental market cap rate: 6.1%
    Located on the border of Georgia and Tennessee, Blue Ridge offers a number of outdoor activities for vacationers, from hiking to see one of its 16 waterfalls, going for horseback rides or attending one of its numerous fall orchard festivals.

  1. Norris Lake, Tennessee
    Median home price: $343,907
    Annual gross rental revenue: $42,450
    Vacation rental market cap rate: 6.2%
    Norris Lake boasts 52 square miles of fresh water, ideal for activities like stand-up paddleboarding, kayaking and wakeboarding. Plus, it’s a short drive from Knoxville and all the attractions and amenities there.
  1. Dauphin Island, Alabama
    Median home price: $382,699
    Annual gross rental revenue: $43,371
    Vacation rental market cap rate: 6.8%
    Dauphin Island is a family-friendly beach destination. It’s home to the Dauphin Island Sea Lab and the Audubon Bird Sanctuary, as well as uncrowded white sandy beaches.

  1. Gulf Shores, Alabama
    Median home price: $402,905
    Annual gross rental revenue: $46,107
    Vacation rental market cap rate: 7.1%
    Plenty of opportunities for water sports and a plethora of bars and restaurants make Gulf Shores an ideal vacation destination.

  1. St. Augustine, Florida
    Median home price: $365,576
    Annual gross rental revenue: $46,557
    Vacation rental market cap rate: 7.4%
    Beautiful beaches and a downtown historic district attract many visitors to St. Augustine. It’s also home to the No. 1 whiskey tour in America at the St. Augustine Distillery.
  1. Gatlinburg, Tennessee
    Median home price: $320,111
    Annual gross rental revenue: $47,328
    Vacation rental market cap rate: 8.6%
    With a median sale price of around $320,000 and a cap rate of 8.6%, Gatlinburg easily took the top spot on Vacasa’s ranking. The Southern destination is home to Skylift Park — North America’s longest pedestrian suspension bridge — and Anakeesta adventure park.

Comments

comments

Published by

Jay Ferguson

Who I Am My name is Jay Ferguson, and I am a lifelong resident of the Deep Creek Lake area. I am also co-owner of the real estate side of Taylor Made. I have been in the real estate business for 21+ years now and I LOVE what I do! I have to say, my career really took off when I co-founded the real estate side of Taylor Made in 2014. Its been an amazing experience, building a real estate company from the ground up and achieving so much so quickly! In August 2016, we purchased Long & Foster Real Estate Deep Creek, where I had started my career in 2000. In 2018, we on-boarded virtually every agent from Coldwell Banker Deep Creek Realty as they closed up shop and the real estate family grew even more! We now have over 40 sales agents and have expanded to West Virginia and Pennsylvania, as well. Taylor Made is the #1 vacation rental company at Deep Creek with over 475 vacation rental homes, and over one hundred thousand yearly visitors. Its amazing what we have accomplished using the principles of honesty, teamwork and customer service! Personally, my wife Jessica and I enjoy traveling and especially spending time in the outdoors, hiking and exploring the many diverse areas that Garrett County is naturally blessed with. We have raised two wonderful children here, Kayleah (22) and Noah (13). In the summer, we love spending time on the water with friends & family and enjoying the lake life! We are both active in our church, our community & local school activities, and we fill our schedule with plenty of volunteer efforts. I currently serve on the board of directors for Habitat for Humanity. I am proud to say that I was named Deep Creek Time’s Favorite ‘Community Champion’ in 2019. I was also named Garrett County Realtor of the Year in 2018-19, as well. I really enjoy promoting my hometown. I am very proud of the resort area that has developed over my lifetime and look forward to growing the area even more! Deep Creek Lake has been described as ‘The Lake Tahoe of the east', and I think that speaks volumes about the potential to own property here! Deep Creek Lake isn't really a town or city by itself; it's comprised of three towns: Oakland, Swanton & McHenry, Maryland. I am very passionate about my hometown and am impressed with how many people know about it as we travel around the country. Deep Creek Lake is an amazing place to visit and even better place to live! During the pandemic in 2020, our market exploded and more and more people left their primary residence in the city to live here permanently. With distance learning in schools and tele-commuting becoming the ‘norm’, many more people were drawn to the area to ‘live where they love to play’. Why You Want Me Working for You: In addition to being an owner, I am consistently one of the top-producing agents in the entire area and the Associate Broker of record for Taylor-Made Deep Creek Vacations & Sales. I have 21+ years of experience and I am a problem solver. There aren’t many situations that I have not encountered and I have a strategy for almost every scenario that you may encounter. I have extensively trained in all areas of real estate & emerging technologies, and also have trained as an appraiser, as well as served as a full-time Broker. I have a strong knowledge of the industry, as well as many trusted local contacts & affiliations that allow me to perform at a very high level and deliver results. I have a great deal of respect for my peers in this industry and have strong working relationships that I would love to put to work for you. Call me to discuss your situation - I know I can be of great service to you & others you care about! Honesty. Integrity. Results.

Jay Ferguson
jay@deepcreekvacations.com
301-501-0420
My Location
35 Towne Centre Way
McHenry, MD 21541
Click Here to Email Me
Monday - Sunday
Office: 9am - 5pm
Phones: 9am - 9pm
Deep Creek Media
Stay Connected
Realtors

© Taylor-Made Deep Creek Vacations 2016. All Rights Reserved. Rules & Regulations

Website Design by InterCoastal Net Designs