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Charles Foster
Charles Foster

Best Places In Florida To Buy A Vacation Home _HOT_


Marisa Spyker is the Senior Writer at Southern Living, where she enjoys dabbling in stories throughout the magazine, from gorgeous home features to profiles of the South's creatives. Prior to joining the team in 2019, Marisa was an editor at Coastal Living, coastalliving.com, and Luxe Interiors + Design. Her career spans nearly 15 years, much of which has been spent staring at photos of pretty homes and gleaning inspiration for her next beach vacation.




best places in florida to buy a vacation home


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While vacation home interest saw some growth year-over-year, the real standout was the increase in sale price. In 2019, the median sale price was $300,075. In 2020, it reached $368,989. This makes Miami-Dade County the most expensive area to purchase out of all the counties on our list.


Our top county for mortgage applications on vacation homes, Lee County, home to Fort Myers and Cape Coral, saw a modest increase in application interest in 2020 and a slightly above-average increase in home prices.


The largest share of Florida vacation home purchase applicants came from within the state, making up 18% of all applications for second homes in Florida in 2020. More Floridians showed interest in purchasing vacation property last year compared to 2019, with an 11% year-over-year increase in applications.


There appears to be a correlation between increases in price and increases in vacation home mortgage applications, which could indicate that vacation homes may be playing a part in driving up home prices in certain markets.


Of particular interest is Broward County, home to Fort Lauderdale. While this area experienced an impressive 17% increase in vacation home mortgage applications, it also saw primary home mortgage applications fall 11%.


With 1,350 miles of beautiful coastline and sunny weather during most of the year, it should come as no surprise that Florida's real estate market is among the top-performing in the country. And since many people still work remotely due to COVID-19, the Sunshine State is proving to be a particularly attractive place to own a vacation home.


As the most international destination in South Florida and home to some of the country's best restaurants, beaches, shops, and entertainment spots, Miami Beach is the ultimate vacation spot. And the city's real estate market fully reflects that. Construction is booming in the area with developments such as 57 Ocean Miami Beach, Ten30 South Beach, Monaco Yacht Club & Residences, and Monad Terrace making their debut in the city. And given that the region is attracting an unprecedented number of visitors, it's safe to say that even if you don't end up spending much time in your new Miami Beach property, it'll have plenty of rental potential, too.


Known as the boating capital of South Florida, Fort Lauderdale is the perfect vacation spot for those who like to enjoy daily sailing trips. The city's many canals, sun-drenched beaches (seven miles of them!), and bustling art scene are why so many people are looking for vacation properties here. In July 2021, the average sale price in Fort Lauderdale for a single-family home soared to a whopping 60 percent over July 2020. So, prepare to pay more than the list price if you want to call Fort Lauderdale your permanent vacation spot.


Hostaway, a vacation rental management platform, recently released its third annual list of the most coveted locations in the U.S. to buy a vacation home. It consists of both small towns and big cities.


The Poconos are in the northeastern part of Pennsylvania, making them an easy commute from New York and New Jersey for second-home owners or vacationers. The area is a four-season getaway, with blooming springs, summers on the lakes, leaf peeping the fall and skiing in the winter.


Full-time residents love Bend for its outdoorsy and laid-back lifestyle, as well as its natural beauty. As the owner of a vacation home there, you undoubtedly would be charmed by that same appeal Enjoy the clear waters of the Deschutes River, snowshoe with Mount Bachelor in your sight or follow the Ale Trail in the place that calls itself the craft beer capital of the west.


If you like to golf at world-class courses, shop luxury labels, and do both while getting some stunning waterfront vistas, Naples is worth looking into for your next vacation home. Nestled on the shores of the Gulf of Mexico and close to Sanibel Island, Marco Island, and Fort Myers, Naples is an excellent place to settle down for a beachside vacation with access to high-end shopping, top-tier cuisine, and tons of fun water sports.


Finding the best places to buy a vacation home is one thing, but what about the best properties? Use Rentalizer, the Airbnb calculator, to enter any address and see its projected performance on Airbnb and Vrbo.


The report also added that The Hamptons was a vacation home hotspot thanks to the rise in hybrid living. According to recent data from WFH Research, hybrid workers earn more than people with fully remote or in-person jobs. It's a trend that also arose in emerging tech hubs like Austin and Miami. Those cities' business-friendly environments have made them new tech capitals, according to Henley and Partner's report.


If you're looking for a beachfront vacation destination or a summer home, then you've come to the right place. Let's talk about how to find the best beach house in Cape Cod or anywhere else you may want to venture!


If you don't know your New England geography, Cape Cod is the hooked peninsula off of Massachusetts with some of the best national seashore views in the country. It's fairly secluded and can be difficult to drive to during peak seasons, but if you already have a home there, then you won't have to worry!


Now that you know some of the best destinations in the hemisphere, you may be wondering how to start looking. Whether you're a snowbird or you just want to spend your summer vacation at a home away from home, there are options to choose from.


Now that you know where the best beach homes are, find the right beach house in Cape Cod or anywhere else you might enjoy! There's no shortage of beautiful real estate all around the continent, so find the right one for your needs and enjoy your new home away from home.


Pandemic or not, the Florida real estate market remains one of the most profitable in the U.S. Its popularity as a vacation spot and a business hub makes for a very lucrative real estate market. In the past five years, home values have increased by 69%, with a 29.4% home price increase in the last year.


Jacksonville offers some of the best real estate deals in Florida. The cost of living is low, housing is more affordable (8% less than the national average), and home values are predicted to increase by 8.4% in the next year. With a median sale price of $281,000 (a 19.6% increase in the past year) and an average rental rate of $1,411, Jacksonville is one of the best places to invest in real estate in Florida.


The Florida real estate market is one of the fastest-growing markets in America, and the places highlighted above are some of the best markets to invest in, in 2022. However, knowledge of the most profitable places alone is not enough. You should conduct detailed research on the properties available before making an investment choice.


While it can appreciate, many experts agree that residential real estate is not the ideal asset class for building wealth. So for folks who want to invest for retirement or other long-term goals, buying another home might not be the best basket for nest eggs.


Dreaming of a second home/vacation home is exciting, but instead of asking yourself whether you want a second home, ask yourself if you should. First and foremost, run the numbers. A second residence might be well within reach, but consider all of the costs before making such a large financial commitment.


Bradenton is an ideal location for rest and relaxation, making it one of the best places to buy vacation rental property in Florida. Located across the Skyway Bridge from Tampa and St. Pete, its sun-kissed beaches are some of the best in the state and the city itself is known for its charming fishing piers, art galleries, and artisan shops.


Miami is home to models and celebrities, but it also draws millions of vacationers each and every year. With robust tourism and one of the strongest economies in the U.S., the Miami housing market is one of the healthiest in the Sunshine State.


Beyond its lakes and great location, Lakeland is home to many great restaurants, world-class museums, miles of hiking trails, and exotic wildlife. With a healthy average rental income and affordable property prices, Lakeland is a smart choice for any profit-driven vacation home investor.


The oldest settlement on Longboat Key, this picturesque costal village is a one of the best neighborhoods in Sarasota to buy a vacation home if you are looking for a peaceful and cozy resort community. More affordable than the beachfront mansions and high-rise condos found on the barrier island, the cottages of Longboat Village have retained their old-timey charm while having been renovated to accommodate modern families. Life goes slowly here, and you are never far from the beach.


Most foreign buyers purchase their vacation properties using all cash, since financing for foreign buyers can be difficult to obtain. If you intend to finance your vacation home, plan to pay a minimum down payment of 30 percent or more. In rare situations, some property sellers may offer owner financing. If you find a property that offers owner financing, expect to pay more for the property and the loan. You will also have fewer choices in properties, since most sellers want their proceeds for the sale of their property at the closing of escrow. Another popular strategy for funding the purchase of your vacation home is to leverage your existing home. By taking out a home equity line of credit (HELOC) on your existing home, you can use those funds to purchase the vacation property with cash. This method will put you in the position of a cash buyer which offers many negotiating benefits. 041b061a72


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