• CMG MORTGAGE, INC. NMLS #1820

5 Affordable Locations for Vacation Homes

  • July 05, 2017

Vacation homes and investment properties can be used as a “home away from home” and also potentially become a source of rental income when occupied.  The cost of the vacation home largely depends on the location. 

A recent survey by ATTOM Data Solutions ranked popular vacation cities based on summer weather, crime rate, pollution, and home price appreciation to determine the most affordable locations. 

5. Weaverville, North Carolina

Average summer temperature: 74.2 °F

YTD 2017 median home price: $265,000

4. Asheville, North Carolina

Average summer temperature: 74.2 °F

YTD 2017 median home price: $259,500

3. Port Charlotte, Florida

Average summer temperature: 83.7 °F

YTD 2017 median home price: $150,500

2. Waynesville, North Carolina

Average summer temperature: 74.2 °F

YTD 2017 median home price: $195,000

1. Crossville, Tennessee

Average summer temperature: 75 °F

YTD 2017 median home price: $87,500

Before purchasing a vacation home, it is best to contact a financial advisor.  While renting the home in the off season can offset some costs, not all homes can be used as rental property.  Homeowners’ Associations and city ordinances may be a determining factor.  

 

Sources: HousingWire, US News and World Report

Latest Tweets

CMG Image
© 2016 CMG Financial, All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS ID #1820 in most, but not all states. CMG Mortgage, Inc. is an equal opportunity lender, licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act No. 4150025; Loans made or arranged pursuant to a California Finance Lenders Law license No. 6053674. Offer of credit is subject to credit approval. For State specific licensing, visit www.cmgfi.com/licensing.php. To verify our state licenses, please visit www.nmlsconsumeraccess.com. This site is not intended to serve as a business solicitation for residents in the state of Massachusetts and New York.