A house right on the beach, maybe a cabin in the woods surrounded by the magnificent fall foliage, or perhaps a rustic lodge in the mountains near the ski slopes. Whatever your dream vacation home happens to be, what if it turned into your best investment as well?
Not only do many second-home markets have solid returns, some even post profits that rival or surpass those in the nation’s hottest markets. Plus, some of these vacation spots are surprisingly affordable, with plenty of bargains to be had. Realtor.com ranked the most lucrative second-home markets in the nation, the places where sellers are walking away with biggest profits.
To find the country’s most profitable vacation-home markets, they looked at the 500 largest metropolitan areas where second homes made up at least 12% of all of the properties. Then they focused on all of the homes that sold over the past 12 months and compared the most recent sale prices to their previous ones, going back as far as 2008. The profit was defined as the difference between the two sales.
1. Traverse City, MI
2. Claremont, NH
3. Clearlake, CA
4. Brainerd, MN
5. Port St. Lucie, FL
6. Bend, OR
7. Aberdeen, WA
8. Wenatchee, WA
9. Hilo, HI
10. Key West, FL
Rates and terms subject to change without notice. Not a commitment to lend. Not available in all states. This is not tax, legal, or financial advice. Consult a qualified professional for your specific situation.
Private lender. Not affiliated with or endorsed by the U.S. Department of Veterans Affairs or any government agency.
Reverse mortgage borrowers must complete a counseling session with a HUD-approved counselor before applying. This material is not from HUD or FHA and has not been approved by HUD or any government agency.
