When you decide to invest in a waterfront vacation property, there are plenty of factors to take into account. But don’t worry – beachfront properties never go out of style, as everyone likes being near the ocean. Even if it turns out that you don’t like staying there, you’ll still be able to get a return on your investment through renting. With that in mind; we’ll take a look at the best places for such real estate investments in 2020.
Myrtle Beach, SC
While considering the best place for real estate investments in 2020, you’ll obviously have quite a lot on your mind. For example, if you want to have a valuable waterfront property that’s near an urban center, moving somewhere in Baltimore area may be what you want. On the other hand, if you want a true vacation home; have a look at this gem on the Atlantic coast – Myrtle Beach in South Carolina.
This place provides you with ample natural beauty, as well as a wide variety of different activities. Regardless of whether you want to go swimming with dolphins, do some deep-sea fishing, build sandcastles, or just relax on the beach; having a home here will do just fine. And if you choose greenery over sand – there are quite a few nice golf courses around. Plus, for those looking to invest in rental properties – there are great oceanfront homes here that will quickly net you sizable returns.
Panama City Beach, FL
Even if you’re not looking to buy waterfront real estate solely for rental profits, you will still want to consider places that are great vacation spots. After all, at the end of the day, the places where a lot of people go are the places that you will probably enjoy the most while on a vacation of your own.
With that in mind, we’re going to show you this huge stretch of pearl-white beaches – Panama City Beach, found in Northwest Florida. This is actually one of the most visited vacation spots by people from the Midwest and the South. And once you visit this place, you’ll realize that it’s one of the greatest areas for real estate investments in 2020, especially when it comes to waterfront properties. This area lends itself to both classic, historic appeal and an abundance of nature. If you’re looking for the quintessential American family coastal experience – buy a home here!
Gulf Shores, AL
Sure, there are plenty of reasons why Florida beach property is a good investment, there are also areas that are less obvious; like Gulf Shores on the Alabama/Florida state line! You’ll find that this place offers all the amenities vacation-goers need in order to be completely satisfied; in addition, it’s one of the best areas for real estate investments in 2020, at least among vacation home real estate.
Many great day-trip destinations are situated within a couple of miles from this area, some of which offer unique family activities. Apart from that, there are numerous food festivals, concerts, and other interesting events that attract people to Gulf Shores; basically, it’s an all-year-round destination. And if you’re looking to invest in a rental property, that means one crucial thing – demand for bookings will stay high throughout the whole year. That’s something not a lot of shoreline properties can boast. The average home price is around $400k here, so take a look at all of the options.
Galveston Island, Texas
If you’re thinking of buying a home on Galveston Island, one thing is certain: you’d do well to learn the local lingo. There are IBC residents, or “islanders by choice”, and those Born On the Island – BOI. However, don’t worry – this is an extremely welcoming community, and while the locals have a lot of pride, they’re very pleasant to tourists and newcomers alike.
While there are a few hotels in the area, most of the island is dominated by vacation rentals. And the local home prices are not so steep; meaning that this is a good investment regardless of whether you want to purchase a rental or a vacation home for yourself.
Obviously, the merits of a vacation home in Hawaii aren’t such a huge mystery. This isn’t just a premier vacation spot for Americans; people from all over the globe flock here to experience the natural beauty of the Hawaiian Islands, along with the plentiful sightseeing opportunities and myriad fun activities.
Indeed, the Aloha State is pretty much a dream come true for someone looking for a vacation home. But not many places on this island are quite affordable in terms of real estate; which is where Kauai shines. Especially if you intend on renting out your vacation home, you’ll find that the cap rates here are a little less than 5.5%. And sure, there are a few regulations to take into account; but you’re certain to attain a piece of real estate you’ll enjoy, and others will be happy to rent out if you want them to.
As you can see, if you look hard enough; there are quite a few great opportunities for real estate investments in 2020, especially when it comes to waterfront areas. However, we advise you to take all the necessary precautions before investing some of your hard-earned money. Remember – regardless of how small the house is, you’ll find that real estate represents quite a sizable investment for any personal budget; something you don’t want to do on a whim. Do all the needed research to make an informed decision!