It takes more than a scenic view and beautiful weather to make a great vacation home.
With ever-changing laws and regulations surrounding taxes, property upkeep, and insurance, Rented.com has selected the best and worst locations in the country to buy a vacation home this year.
According to the site's 2018 Short-Term Rental Income Report, the best place in the country to buy a vacation home is Panama City Beach, Florida. It was chosen for its combination of affordability, popularity, tax prices and maintenance costs, among other criteria. The city was also the best place to buy in 2016’s version of the report.
A general rule of thumb is that it’s better to buy vacation properties in the south, the survey found. Of Rented.com’s 25 top locations, 15 were located in the southeastern U.S. Runners up for best vacation rental cities included Chicago, Napa, Tulsa, and Memphis. The new list of top locations are perhaps unconventional, but showcase a trend of increased travel to growing cities.
However some old hot spots may quickly be losing their appeal. On the other end of the spectrum, Aspen was the worst place in the country to buy a vacation home. Runners up for worst investment were Palo Alto and Martha’s Vineyard. While these locations may be some of the most iconic vacation destinations in the country, their high prices, property taxes, and rental regulations made the locations less desirable.