The popularity of vacation rentals and beach properties has risen dramatically in recent years, and for a good reason. Due to the increased demand for beach accommodations throughout the summer, investing in a beachfront property would be a wise decision. Personal utilization of the residence is also encouraged, such as weekend vacations with family or friends even if all you want to do is stay in and watch Dramacool.
Before buying a beach property, make sure to check out the hottest locations. If you decide to rent a beach home in London, Ontario, your family’s activities are only limited by your imagination. When you visit Ontario, you can enjoy beach volleyball, skiing, snowboarding, tubing, and mountain biking, among other outdoor activities.
There is a wide variety of beach homes to choose from. However, there are certain beachfront properties that offer higher returns on investment than others, depending on the area in which you purchase the home.
Here are 10 areas in the globe where you can purchase a beach property and enjoy the most benefits.
- Florida – Panama City Beach, Santa Rosa, Ocean City, Long Key, and Cocoa Beach are among the coolest coastal towns and beaches in the United States. This area has a cap rate of 4.5 to 6.2 percent, with a home’s initial cost of $300,000 to $800,000. This number is expected to increase in 2021. However, the estimated rental income in Florida’s coastal towns is usually well over $35,000. As a result, the demand for rental homes must be pretty high.
- Myrtle Beach – For a vacation property on the West Coast, Myrtle Beach is the place to be. There are 500 big lots inside Cypress River Plantation, a gated neighbourhood near south Myrtle Beach, South Carolina. Located along the Intracoastal Waterway, this premium community consists of bespoke houses with four to six bedrooms on half-acre plus lots. There are several big estate-style residences that are located on the Intracoastal Waterway and have private docks, while others offer ideal views of the beautiful greens and soothing sea of the Heron Point Golf Course. Golf carts and boats are welcome in Cypress River Plantation. Homes for sale in Cypress River Plantation range in price from $300,000 to over a million us dollars. When it comes to comforts, people of Cypress River Plantation also seem to have everything they require. Homeowners have access to a splendid clubhouse with a screened-in porch, workout amenities, a children’s playground, an enormous swimming pool with a massive waterfall, a toddler pool, basketball and tennis courts. Occupants feel secure at all times thanks to the community’s 24-hour surveillance.
- Ontario – Since 2013, Ontario has had at least 20 million tourists each year, indicating a significant demand for rental cottages. In London and its surrounding areas, you may purchase a beautiful cottage for between $100,000 and $700,000. And, because property interest rates in Canada remain lower than in most US states, typical Canadian commercial real estate cap rates also remain lower than in the US. And the anticipated rental revenue here is also outstanding, since it never falls below $20K per year. Further, your family’s experiences in London, Ontario are limitless if you decide to rent a seaside property. You can have a lot of outdoor fun in Ontario by participating in activities such as beach volleyball, skiing, snowboarding, tubing, and mountain biking.
- Ocean Shores – It is one of the best areas to buy a beach property in Ocean Shores. Ocean and seaside views can be enjoyed from the property’s waterfront location. Every community has easy access to stunning ocean views and activities. Buyers in this region can expect a cap rate of around 7.6 percent, with a typical purchase price of approximately $239,460. Rental income may reach $32,383 on a yearly basis if you decide to rent your home.
- Panama Beach & Santa Rosa – Panama City, has been a favourite choice for homebuyers for decades, and it continues to be so presently. Panama City is not only recognised for its world-class resorts and luxurious accommodations for families and friends, but also for its beautiful sandy beaches and friendly friendliness. It has a cap rate of 6.1 percent and a typical house cost of $419,900.
- Gulf Shores – A further location on our map where you can buy a property is Gulf Shores. Located on the coast of Alabama, Gulf Shores is only across the border in Florida. Because of its white sand beaches and calm ocean waves, it’s a great place to buy a home. Gulf Shores has an average cap rate of 5.8%, a median house cost of $409,900, and a median yearly gross rental revenue of $39,045.
- Ocean City – Ocean City has been a prominent beach destination in the United States for numerous years. The boardwalk, which is lined with restaurants, stores, and theme parks, is also a popular attraction for visitors. In addition, the locations provide extreme sports like surfing, kayaking, and rafting. Ocean City has a wide selection of houses for sale. The cap rate is 5.4 percent, the median house price is $285,900, and the median gross rental income is $30,769.
- Kauai – In past decades, Kauai has emerged as one of the most coveted investment locations. A tropical rainforest covers much of Kauai’s surface, earning the island the nickname “Garden Isle.” The region has a cap rate of 5.4 percent, an average apartment cost of $696,028 and a median yearly gross rental income of $61,117.
- Bolivar – It’s hard to believe that Bolivar Peninsula and Crystal Beach, Texas, provide so many things to do and see. It’s time to unwind on the gorgeous beach and work on your tan. There is an estimated cap rate of 5.6 percent in this area, and the typical house price is $329,000. When you invest $100,000, you may expect to make at least $26,000 each year. The real estate market in the region is on the rise, which means that these numbers are in your pocket.
- California – Palm Springs, Westlake, Laguna Beach, and Valencia are some of the greatest areas in California to lease a beachfront property. Every community has easy access to stunning ocean views and activities. Most of these locations have median cap rates between 5.55 percent and 6.56 percent. In most coastal communities in California, the median price of a beach property is $400K, yet rental income can reach $100K in a good year. Furthermore, since 2014, the state has attracted around 250K tourists per year without installing any nest cameras.
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