It’s probably no secret to you, if you’re a native, but Brainerd has been ranked one of the most profitable places to buy a second home by Realtor.com – the premier real estate information hub.
If you’re considering a second home or a move to Brainerd – here’s a little bit about why it might be a start investment.
Realtor.com data team looked at housing markets across the nation to find where buyers are buying low and selling high because property is appreciating. It’s important to note – the team talks about how real estate, of this kind, is a longer-term investment. We aren’t talking flips here, we are talking an investment over time.
Here’s how they came up with the rankings:
- First reviewed the 500 largest metro areas where second homes were at least 12% of the property types
- Reviewed homes sold over the past year
- Compared sale price to previous prices (going back as far as 2008) – this is how they defined profit
- Created an annualized rate of return for each market based on those profit numbers
Note: they limited their ranking to two metros per state to ensure some geographic diversity
Here’s their findings:
- Annualized rate of return: 11%
- Median home list price: $286,200
The Land of 10,000 Lakes has made vacation homing more affordable and accessible. With Brainerd having over 500 lakes – there are many options for modest cabin prices starting at $100,000.
They warn that the prices are starting to increase now that the economy has recovered, so now might be your time to buy in Brainerd.
When you’re ready, we are here to help make your transition an easier one. Give our team a call for a free, no obligation in-home estimate.