Best Places to Buy a Vacation Rental Property

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Since there’s been a lot going on in the world lately, finding the best investment vacation properties might not be something most people currently prioritize as a short-term goal. Between the pandemic and the elections, many of us are just focused on making the best of the present situation. While there’s nothing wrong with playing it safe, it’s still good business sense to keep searching for great vacation rental property to invest in.

To help narrow down your search, here are no less than eight of the places in the country where some of the best vacation rental properties can be found.

California

If there is one place where you should begin your search for the best places to rent vacation homes, it’s California. The Golden State has practically everything vacationers and travelers would like.

There’s Disneyland—arguably the most well-known resort in the world.

There’s Universal Studios Hollywood, which offers rides and sets based on famous movies. 

There’s SeaWorld San Diego, one of the country’s premier marine animal parks.

There are plenty of scenic parks, like the Yosemite National Park, the Death Valley National Park, and the Channel Islands National Park.

And more!

To find the best vacation rental property available here, head on over to Southern California. Apart from Disneyland, Universal Studios Hollywood, and, of course, Hollywood itself, there’s Venice Beach, the golf courses of Palm Springs, and several must-see parks.

Florida

Contrary to popular belief, Florida isn’t just the place where many people go to retire. It’s also one of the country’s best vacation rental markets.

There are plenty of popular tourist destinations here. The most well-known is the Walt Disney World Resort. As the world’s most visited resort, which sees nearly 60 million visitors every year, it boasts four theme parks, two water parks, four golf courses, 27 themed resort hotels, and nine non-Disney hotels.

The other major theme parks that call the Sunshine State home include the Universal Orlando Resort, SeaWorld Orlando, and Busch Gardens Tampa, which is a 335-acre, African-themed animal theme park.

If theme parks aren’t your thing, you can take your pick from the state’s many coastal towns, where anyone can find beaches to swim, surf, sunbathe, or just lie on the sand and unwind to their heart’s content.

Speaking of beach towns, Fort Myers Beach would be a great pick if you’re looking for vacation rental property with quaint charm. Located approximately 15 miles southwest of the city of Fort Myers, Fort Myers Beach is a town with a laid-back, tropical vibe—making it an excellent vacation rental property away from the hustle and bustle of the city life.

South Carolina

Located in the Deep South, South Carolina is best known for Myrtle Beach, the state’s most popular city and tourist destination. It features a 60-mile string of beaches, celebrity-designed golf courses, an amusement park, the tallest Ferris wheel in the country, and a beachfront boardwalk with lots of restaurants, arcades, and souvenir stands.

If you’d rather go for something a little more nice and quiet, the state has more than a few visual and performing arts venues. For example, for the visual arts, there is the Gibbes Museum of Art in the city of Charleston, the South Carolina State Museum in the city of Columbia, and the Greenville County Museum of Art. For the performing arts, there is the Newberry City Opera House, the Koger Center for the Arts in Columbia, and the Peace Center in Greenville, to name a few.

If you’re interested in owning vacation rental property in this state, start looking in Wrightsville Beach. Apart from the beach itself, your guests can enjoy the restaurants, retail stores, parks, museums, breweries, and water sports the town has to offer.

Montana

Most people probably have no idea Montana is one of the country’s best vacation rental markets. After all, not that many people know what else is there to see other than the Yellowstone National Park. That’s why plenty are surprised when they find out how much there is to do in the state.

Montana is a veritable haven for outdoor enthusiasts.

For hikers, there’s Glacier National Park.

For water sports aficionados, there’s Flathead Lake and Lake McDonald Park.

For skiers, there’s Big Sky, one of the country’s largest and most popular ski resorts.

To give vacationing outdoor enthusiasts the thrills they crave while still being able to rest and relax, consider buying vacation rental property in Great Falls. Named after the five waterfalls near the upper portion of the Missouri River Basin, the city has more than 50 parks and 40 miles of trails along the said river—making it an outdoor enthusiast’s dream vacation spot.

Vermont

Those who want to explore our country’s rich history need not look further than Vermont. Most of the state’s tourist attractions are historical monuments, letting visitors not only learn more about our cultural heritage but almost get transported back in time by actually seeing such important treasures up close. One such treasure is the Bennington Battle Monument. It was built in the village of Old Bennington to commemorate the victory of the patriots at the Battle of Bennington that took place during the Revolutionary War.

To let history buffs immerse themselves in Vermont’s cultural attractions while on vacation here, buying rental property in Killington would be a great choice. While it has the same old-world charm as the state itself, there are lots of other things to enjoy in the town, like cross-country skiing and ice skating at one of the local skating rinks.

Alabama

Alabama is the second state on this list with deep historical significance. It’s home to some of the country’s most important monuments, museums, and historic sites dedicated to the Civil Rights Movement.

For example, there’s the Civil Rights Memorials in the city of Montgomery, which features a striking black granite sculpture made to commemorate those killed during the violent struggles of the movement.

But that doesn’t mean Alabama is just the same as Vermont. It’s known for particularly delicious food, a unique music scene, and southern hospitality.

Also, Alabama has parks, museums, the Bama Theatre, and the Tuscaloosa Amphitheater. All of these can be found and enjoyed by staying in a vacation rental property in the city of Tuscaloosa.

Tennessee

Hordes of tourists flock to Tennessee each year, but they don’t all visit the state for the same reason.

Some come to experience the country music scene in Nashville, the capital and home of the Country Music Hall of Fame.

Some come to indulge in the fine whiskey made in the cities of Lynchburg, Knoxville, and Gatlinburg.

Some come to chow down on some honest-to-goodness southern comfort food.

So whether you love country music, whiskey, or southern comfort food, Tennessee has what you need.

For visitors with these sorts of tastes, there’s no better place they’d have a blast at than a vacation rental property in Nashville. Apart from music venues, there are museums, historical sites, and many American-themed restaurants.

Illinois

At first glance, Illinois might not seem to be truly the best place to buy a vacation rental property.

The state is known for having many famous high-rises, like the Willis Tower, the John Hancock Building, the Wrigley Building, and the Tribune Tower, which are nice and all but aren’t your typical tourist draws.

A closer look reveals there are in fact many tourist attractions there, like the Art Institute of Chicago, the Abraham Lincoln Presidential Library and Museum, and the Anderson Japanese Gardens.

That’s why those who want to explore more urban destinations will surely love Illinois!

The best place to enjoy everything the state has to offer is from a vacation rental property in Chicago. Apart from the said art institute and Willis Tower, there’s the so-called Magnificent Mile, the section of Michigan Avenue north of the Chicago River where plenty of art galleries, boutiques, and luxury shops are located.

Factors to Consider Before Purchasing a Vacation Rental

While there are many factors to consider before settling for any piece of real estate, there are three tasks that you need to keep in mind to truly enjoy the best investment vacation property:

  • Familiarize yourself with the local laws. Renting real estate is not always allowed across the country. For instance, New York City will only let homeowners rent out a property if they live there. To avoid getting in trouble, make sure the place where you’re considering buying a vacation rental property isn’t cracking down on rental real estate to provide long-term housing.
  • Get help from a local real estate agent. No matter how good you are as a real estate investor, navigating the local laws can be a pain. A local real estate agent knows the market better than you probably ever will, enabling you to pick out the best possible place to buy a vacation rental property.
  • Come up with a marketing plan. Real estate properties don’t sell themselves. To make sure yours gets noticed by potential renters, you need to have a marketing plan that will get your piece of property in front of them and pique their interest in it. You can do it yourself by simply adding your vacation rental property to sites like Airbnb, Vrbo, and HomeAway, or you could hire a rental company to do it for you.

Picking the right place to buy a vacation rental can be challenging, but we’re here to help. Check out this Avery Carl blog article to learn about even more awesome places to own vacation rental property.

Conclusion

As we look forward to traveling for pleasure again once things get better, entrepreneurs who continue finding the best investment vacation property will stay ahead of the competition. Those with such foresight will be able to offer first-rate vacation rental properties when we’re able to enjoy such luxuries, ensuring their businesses keep thriving.

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