Best Vacation Home Spots for HECM for Purchase

The golf course, the beach, the great outdoors and amusement parks ranked as the best places to buy a vacation home, according to a new semi-annual list from Zillow.

As metros located near these areas gain popularity as desired vacation spots, they may also be destinations to consider for potential home equity conversion mortgages (HECM) for purchase.

To be considered for each list, each area had to meet specific criteria, such as golf courses having to make up 5% of land within a particular city, or having a national park within 20 miles or a half-hour drive of an outdoorsy area, according to Zillow’s “Best Places to Buy a Vacation Home” summer edition.

Advertisement

Additionally, for an area to make the cut, it also has to have investment potential, such as looking at both future gains in home values as well as the potential to generate rental income, Zillow noted.

Of the top-10 places to buy a vacation home for golf lovers, nine are located in Florida. Haines City, Citrus Ridge and Daytona Beach comprised the top three areas, while Palm Desert, California (#7) represented the only metro outside the Sunshine State.

Florida again dominated Zillow’s list for the top-10 spots to purchase a vacation home that are within 10 miles of an amusement park, zoo or other attractions. In this category, Florida commanded eight cities, with Davenport, Holly Hill and Kissimmee taking the top three spots.

California was better represented when it came to the top places to purchase a vacation home for outdoor adventurers, pulling in half of the top-10 areas, including the top two spots of Thousand Palms, CA and Palm Desert. 

Written by Jason Oliva

Join the Conversation (1)

see all

This is a professional community. Please use discretion when posting a comment.

  • Is the author recommending that a HECM for Purchase be used to purchase a vacation home in the listed vacation home spots? If so, the author had better get clear what a HECM for Purchase can be used to acquire and what it cannot be used for.

    While the proceeds from a Traditional HECM on the principal residence can be used in the purchase of a vacation home, a HECM for Purchase cannot be used to purchase a true “vacation” home.

string(91) "https://reversemortgagedaily.com/2014/07/09/best-vacation-home-spots-for-hecm-for-purchase/"

Share your opinion