If you’ve been dreaming about owning a vacation home, now could be the time to make that dream come true. With the economy booming, banks are easing requirements for lending. Mortgage rates, although slowly rising, are still historically low. Home sales are currently slowing and creating a buyer’s market as opposed to a seller’s market. Looking for hidden gems in off-beat places can make owning a vacation home even more possible. Consider the following five unique places to buy a vacation property.
1. Catskill Region, N.Y.
A vacation home in the Catskills means an escape to beautiful scenery and quiet days fly fishing, hiking the low mountain ranges, and enjoying farm to table dining. Teeming with outdoor activities, the area is wonderful for promoting a healthy lifestyle. With the days of the adult summer camps seen in Dirty Dancing, pastimes have turned to wine and music festivals and zip line tours. With an average selling price of around $219,000 according to Realtor. com, a vacation home in the Catskills could make dreams become a reality.
2. Amelia Island, FL.
Florida, especially the Jacksonville area took a hard hit during the housing crisis of around 2008. It became easier to find a vacation property in some quite attractive places. Amelia Island is part of a chain that stretches from North Florida outside Jacksonville to the coast of South Carolina. A colorful past of rebels and privateers makes the area rich in history and attractions. Golf courses, all sorts of festivals, and 13 miles of gorgeous beaches make Amelia Island a great place for a vacation home, and you can do it for just under $314,800.
3. Great Smoky Mountains, N.C.
TripAdvisor ranks this gorgeous area among the top vacation rental locations in the U.S. It’s the land of attractions like Dollywood one of the most popular national parks in the country. The foliage in the fall is an attraction in itself. If you love biking, hiking, or relaxing with a beautiful view, you’ll enjoy what this area has to offer. You’ll find several quaint towns around the area with properties priced as low as $161,500 in Lake Junaluska.
4. Lake Arrowhead, CA
Despite recent droughts, Lake Arrowhead continues to be a popular tourist spot. They have plenty of outlet shops, cute boutiques, great restaurants, and events like a summer concert series and Oktoberfest. The Antique Wooden Boat Show, bike races, car shows, and other events keep local area people pouring in on all of California’s sunny days. The average home price here of $241,000 sounds quite affordable by California standards.
It’s more about what Kingsland is near than the town itself. The little coastal town may be lacking in attractions, but white sandy beaches, fishing, kayaking, and swamp boat tours make up for it. It’s in Georgia three miles from the Florida State line only 30 minutes from Jacksonville and the same distance north to historic Savannah, one of the most popular places to visit in the country. The average home price is $134,700.
Clearly, vacation properties have their perks. Consider also the possibility of renting it out for part of the year for extra income. Is it time to make the dream of vacation property a reality?