For all this, Boothby paid $249,000. Not bad, huh?
Okay, so the home isn’t in Malibu or Monterey. Boothby, 41, had to go a bit farther south, to a Nicaraguan development called Rancho Santana. Nicaragua is only a 3-hour flight from Houston, which is why Americans are scooping up vacation homes there, and, as a result, property values are rising.
Almost two-thirds of young men dream of owning a second home, according to a survey we conducted at MensHealth.com. For most, it’s a late-in-life, after-the-kids-leave-the-nest kind of goal. But it doesn’t have to be. Now is an especially good time to buy, for one simple reason: You don’t also have to sell. In fact, according to the National Association of Realtors, vacation-home sales rose almost 5 percent last year, a small bright patch in an otherwise grisly housing picture.
And, surprisingly enough, retiring baby boomers aren’t driving the trend, at least not alone. The average age of a vacation-home buyer is 44, down from 52 in 2005. With the dot-com market bust firmly in memory, younger guys are thirsty for real assets and the tax write-offs that go with them. “I work hard,” says Boothby. “I don’t want to wait till I’m 65 to enjoy my reward.”
Whether your ideal retreat is at the beach, on a mountain, or astride a golf course, here’s where to buy. Today.
Check-out some US Real Estate.
UNITED STATES
ADIRONDACK MOUNTAINS, NY
Hordes of cars with New York and New Jersey plates clog the Northway on Friday afternoons on their way to 6-million-acre Adirondack Park, which features 3,000 ponds and lakes, three ski resorts, and the nation’s largest system of hiking trails. Prices at the posh south end of Lake George skyrocketed during the housing boom. So focus on the dozens of smaller lakes with cheaper homes and less boat traffic.
We Found . . .
1. A three-bedroom home on Oxbow Lake for $300,000.
2. A four-bedroom, three-bath ski chalet on Hunter Mountain for $230,000.
BLUFFTON, SC
Bluffton is just across the river from posh Hilton Head, but home prices are a good 25 percent cheaper, local realtors say. It’s a seaside town in the vein of Charleston or Savannah, with antebellum mansions, hidden gardens, and the last working oyster factory on the East Coast.
We Found . . .
A two-bedroom villa, situated on a private island that backs a Tom Fazio–designed 27-hole golf course, for $245,000.
GATLINBURG, TN
Gatlinburg is the gateway to the Great Smoky Mountains, the country’s most visited national park. The visitor count has doubled in the past decade, fueling a thriving vacation-rental market and dreadful traffic jams during peak seasons. Nonetheless, there’s tons of hiking, kayaking, canoeing, and horseback riding, and because the seasons tend to be mild, the fun lasts all year long.
We Found . . .
1. A two-bedroom chalet on Ski Mountain with expansive views for $270,000.
2. A three-bedroom, 2½-bathroom home on a 6-acre lot that overlooks Douglas Lake for $349,000.
THE MIDWEST
DOOR COUNTY, WI
They call this the Midwest’s answer to Cape Cod: white clapboard villages, charming restaurants, placid harbors. A peninsula jutting 80 miles into Lake Michigan, Door County has more coastline (300 miles) than any county in the country.
We Found . . .
A two-bedroom cabin on a 2.8-acre lot, with cathedral ceilings, a large porch, and panoramic views of Green Bay, for $329,000.
THE WEST
CENTRAL SIERRA, CA
This is one of California’s last affordable regions. Towns like Angels Camp and Copperopolis retain their antique feel. There’s great skiing at Bear Valley, giant sequoia groves in Calaveras Big Trees State Park, and new wineries everywhere. Yosemite National Park is just a short drive away.
We Found . . .
1. A new four-bedroom home with views of Lake Tulloch for $379,000.
2. A three-bedroom chalet with treetop views in Arnold for $329,000.
WOODLAND PARK, CO
It’s called the City above the Clouds because the sun consistently shines here at the base of Pikes Peak, while nearby Colorado Springs is routinely fogged in. Popular pastimes include mountain biking, snowboarding, and charging up the 1,000 stairs of the Manitou Incline along with athletes from the nearby Olympic Training Center.
We Found . . .
P A three-bedroom home with lake and mountain views for $245,000.
THE SOUTH
GULF COAST, TX
This is North America's last affordable coast. Unofficial slogan: "It's not as Gross as You Might Expect." Sure, the sand is grainy and the shore is sometimes stalked by seaweed and oil slicks, but the water's fine, and it gets bluer–and the sand fluffier as you travel down the nearly 400 miles of coastline. You can still buy a three-bedroom bayside house here for less than the cost of a Malibu outhouse.
We found...
1. A three-bedroom home with a third-floor crow's nest and canal side dock in Rockport for $399,000.
2. A two-bedroom townhouse with a boat slip in Laguna Vista for $259,000.
Check-out some International Real Estate
INTERNATIONAL
SASKATCHEWAN, CANADA
If you can deal with (or avoid) the winter weather, Canada is a great pick—it’s English-speaking, and you don’t have to worry about the infrastructure.
We Found . . .
A three-bedroom A-frame on Meeting Lake, a 3-hour drive north of Saskatoon, for $80,000.
CARIBBEAN COAST, COSTA RICA
“On the Caribbean side, you’ll find a lot of inexpensive land,” says Scott Oliver, author of How to Buy Costa Rica Real Estate Without Losing Your Camisa. “It’s 15 years behind the Pacific coast.” In other words, teeming with opportunity.
We Found . . .
1. A two-bedroom, waterfront cottage in the town of Puerto Viejo for $175,000.
2. A 30 acres of land in Limón with views of the Caribbean for $150,000.
BAY ISLANDS, HONDURAS
These four islands offer nothing but white sand, pristine beaches, coral reefs, and tropical forests—and that’s the point. Prices are rising in Roatán, the biggest island. For a sleepier, pre–gold-rush environment, check out the other Bay Islands: Barbaret, Guanaja, and Utila.
We Found . . .
1. A three-bedroom beachfront villa with a dock in Roatán for $322,000.
2. A three-story, three-bedroom loft home on a 1-acre waterfront lot in Guanaja for $275,000.
LA PAZ, MEXICO
Property here is about half as expensive as it is in the more raucous Cabo, and there’s a 2-hour direct flight from Los Angeles.
We Found . . .
A three-bedroom hacienda-style house steps from the beach, with a dipping pool and bay views, for $199,000.
BOCAS DEL TORO, PANAMA
This archipelago off the northern shore of Panama hadn’t been touched by tourists until 5 years ago. It’s for folks who want to island-hop in a catamaran or hike in forests filled with howler monkeys, iguanas, and toucans.
We Found . . .
1. A beachfront cottage on Isla Bastimentos—one of the archipelago’s biggest islands—for $120,000.
2. A 5,000-square-foot, two-bedroom home on Isla Bastimentos for $275,000.
MÉRIDA, MEXICO
Known as the White City for its white limestone buildings, Mérida is steeped in Mayan culture. Gringos and wealthy Mexicans have been snapping up colonial mansions in the city for $40,000 or less, and restoring and selling them for $250,000 and up.
We Found . . .
A three-bedroom restored home in the heart of the city, with a pool, for $240,000.
SOUTHWESTERN NICARAGUA
Even the most popular areas are a good decade behind Costa Rica and Belize in terms of prices and development. Nicaragua isn’t Cancún, but there’s plenty to like here, from world-class surfing to volcanic lakes.
We Found . . .
A two-bedroom villa, located a few hundred yards from the beach, for $179,000.
ADDITIONAL REPORTING BY KAREN HUBE