Looking to Purchase a Vacation Rental Home?

Than look no further! According to www.nuwireinvestor.com, two of the top locations to buy vacation homes are right here in Oregon. Ashland was ranked #1 and our states capital, Salem, was ranked #8. If you would like to learn more about why these great cities were ranked amongst the best places to purchase a vacation rental home read the article below or visit the link to the published article.

Vacation homes are a commodity many Americans desire, but some view the cost as prohibitive in today’s floundering market. But if investors choose their vacation home’s location wisely and opt to rent out their vacation home while they aren’t using it, the property could prove to be a valuable investment. If nothing else, it may at least earn enough supplementary income to make the expense worthwhile.

When buying a vacation home, one of the most important factors to consider is location. Owning a vacation home is inherently different from simply renting a hotel room once a year. Vacation homebuyers are advised to travel to the area they are considering before making a purchase; owning a vacation home means the homeowners will likely spend a lot of vacation time there, so it’s important they enjoy the area. And when the vacation home is also an investment property, the location and surrounding market is even more important. Investors should look for an area that is not only has draw as a tourist destination, but also has a strong market with good appreciation and rent returns.

With this in mind, here is NuWire’s list of the top 10 locations in the U.S.—including U.S. territories—to buy vacation rental property. The cities were selected based on a combination of their appeal as both investment and tourism locations. Factors such as home prices and appreciation rates were taken into consideration alongside issues such as weather and the availability of activities and attractions.

1. Ashland, OR

Population: 20,881

Median Home Price: $497,500

Appreciation Rate: 6.3 percent

Average Number of Rainy Days per Year: 101

Average Temperature: 61°F in July, 28°F in January

Ashland offers a fantastic range of activities coupled with the atmosphere of a small, laid-back college town. Perhaps the town’s greatest claim to fame is the Oregon Shakespeare Festival (OSF), a theatrical celebration that lasts from February through October every year. OSF puts on more than 780 performances yearly. But there are plenty more activities available for those looking for something other than Elizabethan theatrics. The nearby parks, trails and Siskiyou Mountains offer opportunities for visitors to camp, hike and ski to their hearts’ content, and holidaymakers can raft or kayak on one of the four nearby rivers. The Ashland Oregon Chamber of Commerce estimates that Ashland receives approximately 450,000 visitors each year, about 100,000 of whom come solely for OSF.

8. Salem, OR

Population: 152,239

Median Home Price: $238,000

Appreciation Rate: 5.91 percent

Average Number of Rainy Days per Year: 146

Average Temperature: 67°F in July, 40°F in January

Salem, the capital city of Oregon, is located in the Willamette Valley. Wine buffs will enjoy the chance to visit the many local wineries and vineyards in the area. The Oregon Garden, which covers 80 acres, is located in nearby Silverton. In addition to opportunities for boating, cross-country skiing and hiking, Salem hosts the Salem Art Fair & Festival every summer, the largest juried art festival of its kind in Oregon, according to the Salem Art Association. The Salem Art Association estimates the Art Fair’s average attendance to be more than 100,000, and the event is free to the public.