Winter typically means two things here in Connecticut – cold (and colds) and snow. Besides the holidays, watching the kids frolic and play in the powdery snow, and admiring the tranquility of falling snow, I’m not much of a fan of winter. I’m already looking forward to summer. Too soon? Every summer, we vacation for a week every month from June through August, renting each time. Needless to say, I’m no real estate mogul, but I do love a good deal.
Ya see, we’re more of the rent from renter than the rent to renter. Would I like to be able to purchase a rental property someday? Yeah. Is it likely to happen? Not at all, yet I find myself checking out the market anyway. It doesn’t hurt to dream, right?
Vacasa, who specializes in vacation rental markets around the country and world, homed in on the Top 10 places in the U.S. to buy a winter vacation home right now (so you don’t have to wait until summer to kick back). Consider this list the lesser-known
Vacasa’s Winter Vacation Report identified markets with the highest average occupancy increases in the winter months (November to January), shoulder months (April-May, September-October), and chose the ones with the best one-year return on investment.
Okemo/Ludlow, VT – which is located just over two hours from where I currently sit – topped the list (sorted by cap rate – a figure for comparing return on investment). The list also included Park City, UT (home of the Sundance Film Festival and ), Steamboat Springs, CO (offering up “Why Not,” its 3+ mile run), and Flagstaff, AZ (yes, there’s snow in Arizona).
Two hours south of Stowe, VT (#9 on the list and the Vermont destination I’m more familiar with), Ludlow – home to Okemo Mountain Resort – has a lot going for it:
- Market Size: 2,000+ units
- Median Annual Rental Revenue: $32,020
- Median Home Price: $273,600 (lowest on the list)
- Shoulder Season Occupancy Change from 2016-2017: 106% (don’t wait til winter)
- Overall Occupancy Change from 2016-2017: 37.6% (highest on the list)
- One-Year Return Rate (cap rate): 6.1%
- Parents Magazine named Okemo Mountain Resort the nation’s best family resort
So yeah, Okemo/Ludlow, VT – again, #1 on this list – with its affordable median home price coupled with the best ROI on the list means the time to buy is now. If you want to check out the report, click here.
And if you decide one that Ludlow or Stowe is an option for your winter vacation home, get in touch because I’d love to become friends.