There’s no place like home, unless you have more than one! These days, there are a lot of good reasons to invest in a second property. Real estate is a good long term investment, especially if you are interested in getting into home rentals. Plus, it’s great to have a place to escape to for a quick weekend vacay!
The following is our list of the best places to invest in a second home in Washington this year. Our choices are based on location, return on investment, and quality of life. Keep reading to find out the details!
Port Angeles
Port Angeles is one of the crown jewels of Washington’s Olympic Peninsula. As a small coastal town of only 20,000, Port Angeles is the perfect place to go for a long weekend. And on top of being a great destination, Port Angeles is one of the best cities in Washington for traditional home rentals. Most units never stay on the market for longer than a month, with an average rental income of $1,818.
Kirkland
This fair city on the Eastside may only be a stone’s throw away from your permanent residence, but it is one of the best places in Washington to buy an investment property. Demand for housing in Kirkland is high, so if you can buy a property at median price, you can start making money off a rental very quickly. The average rental price for an apartment in Kirkland is $1,949. To learn about our upcoming projects in this vicinity, click here.
Lake Chelan
The housing market may not be very big at Lake Chelan, but there’s a reason that this central Washington hub is a vacation spot for so many. Not only would a residence in Chelan provide you with a place to escape to on a long weekend, but it would be an ideal short term rental investment. By providing others with a vacation oasis, you can help pay for yours. And Chelan is full of fun things to do ⎼ water sports, community events, and winery tours are just the beginning. Check out this guide to find out more.
Walla Walla
Walla Walla may not come to mind immediately as a vacation destination, but it is an ideal second home site for a handful of reasons. First, it’s a college town. That means you will never be short on renters, should you choose to go that route. Second, it’s in the heart of Washington’s wine country. When people are drawn from all over to taste the grapes, your investment property starts paying for itself.
Find Your Second Home Today
There are a lot of reasons why buying a second home is a smart move. Whether it’s because you want a place to escape to on vacation or because you are interested in an investment property, second homes can be well worth it. But the best way to find a second home is to turn to experts in the field. Give our office a call and we will show you our upcoming projects!