Owning a 2nd home or a vacation rental can be very lucrative as well as having a great place to get away. A recent report from Realtor.com points out that not only do many second-home markets have solid returns, but some even post profits that rival or surpass those in the nation’s hottest markets. So, of course they put pen to paper to find the country’s most profitable vacation-home markets. They looked at the 500 largest metropolitan areas (limited to two per state) where second homes made up at least 12% of all of the properties and focused on all of the homes that sold over the past 12 months as well as other criteria.
“When you look to buy a second home, know there isn’t always an immediate return financially. You’re in it for the long haul,” says Holly Mabery, an associate broker at eXp Realty in Arizona who teaches courses on selling second homes.