People have different ideas when it comes to how they want to spend their vacation time or retirement years. Many travel the world, taking trips every chance they get. Some may fall in love with a specific location and consider purchasing a second home there. It’s a big step to take. If you’re considering a vacation home and you don’t have a specific location in mind yet, what follows is a rundown of what is arguably the best vacation home destination in America right now.
That destination is Panama City Beach, Florida.
While Panama City Beach is a gorgeous destination for a getaway, what makes it a great vacation home option is actually related to the time you won’t be spending there. Simply put, Panama City Beach has the biggest return on investment in the country when it comes to rental properties. If you consider renting out your vacation home when you’re not staying in it, the venture can be pretty lucrative.
In studies regarding rental properties during Spring Break, Panama City Beach topped the list of more than 150 cities!
If you look at the costs of owning a home in Panama City Beach, taking into account things like taxes and insurance, and compare it to the potential revenue of renting the property out, the results are definitely worth smiling over. The popularity of the destination combined with the profit potential of short-term rentals could essentially pay for your vacation home, and would likely put some additional profit in your pockets. Of course, it would take some additional work and cash on your part to maintain the property and market it on popular rental websites, but the return would likely be worth the effort!
Panama City Beach isn’t the only Florida destination that would make a great option for a vacation home. In fact, if you look at that list of 150 top rental cities and only consider the top 25, there are nearly three times as many Florida cities as any other state! The moral of the story? If you’re considering a vacation home and renting it out, the Sunshine State is a good place to start looking!