So many great spots and places to explore.
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Maalaea Bay, Maui Hawaii - hands down, no questions asked. Easy rental opportunities, walkable stretch (2+ miles) of beach (super great for swimming, snorkeling, turtle watching, whale whale-hanging out), airport close (but not on top of), Lahaina close (enough), 2 main roads nearby (but so little car traffic in the bay itself), and a beaut of a harbor, which I’ll want (with this money I’ve acquired) to house a sailboat and a motor boat of some kind. (Have I thought about all this before? Heck yeah!) I’ve lived and visited so many places on all the islands, and Maalaea Bay is my go-to more times than not, and yes, my friends and I rent condos when we go.
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My H looked at a spot on Oahu that his friend recommended. Looked like almost everything was pending. We have only been to Hawaii a few times so don’t really know the areas and different islands.
@JustaMom - his first thought was on an island in the San Juan’s in Washington with a boat dock. I’d pick a spot where it’s warm enough to go in the water.
I also like the idea of near a lake in Montana. Most of the spots that pop into my mind are expensive.
The practical decision would be to buy a full time rental like a duplex or small apartment in our area. On the other hand this is a gift and it would be nice to exchange it into something we would be able to enjoy.
Make sure to check on rental laws. South Lake Tahoe will ban short-term rentals in 2022 (unless a lawsuit stops the ban).
@mom60 - Still dreaming on vacation home locations? Maybe when safe to travel again you could try renting in a few places and give us your thoughts.
We would love to travel to see some locations but will definitely be waiting on vaccines.
The exchange asset isn’t set to sell till at minimum late this year so we have time to dream.
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Well we did it. After a month long quarantine at home we traveled by plane double masked to California rental for past 2 months.( where we quarantined again!) so so worth it. We feel the risk to others was nil and the risk to us very small. Grateful for the Privilege to do this!
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Absolutely beachfront someplace, U.S. east coast, not FL.
If any were available, we would purchase a cottage on the same island in Maine as our best friends. We stay with them every summer (not this past one obviously) and think it would be ideal to have our own place there. Otherwise, coastal Maine is the top of our list.
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Let me know if you end up here! We are three miles from the coast. 
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Maya is it your vacation home? What part of the state. My D is renting a vacation home up in Mendocino this weekend and the pictures of the water are stunning.
I love the idea of Maine but I don’t think it’s practical for us.
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We are in Palm Springs. Just a rental home. Best decision ever. We are doing nothing and going nowhere but for long walks.
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I think maybe the only place I’d consider would be Lake George New York. It’s so beautiful. But I probably just want to go there because that’s where my BFF spends her summers.
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We just sold a property at coastal Maine where my husband’s parents bought more than 70 years ago. My in-laws summered there every year until they passed. We are so relieved that we have one less thing to maintain. We will be back in Maine, but as renters !
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Bumping this up for more ideas.
Looks like it might be a real possibility later this year.
Thinking about Pacific Northwest or Hawaii. There is a lot to learn as we would need a legal rental.
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Post COVID makes me think about someplace drivable from home. I would want a place easy to get to, unless the rental part is more appealing than the vacation part for you. If you live in the PNW, then that makes sense. If you live on the east coast, I’d suggest someplace else. It’s a nice “problem” to have.
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I like the idea of somewhere near water, maybe in warmer climate for longer seasons of use and rental.
Here’s a list of areas considered good investment. I’m sure are a lot of other similar lists that can get us all dreaming along with you…
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Live on the west coast and we don’t really know much about other areas of the country.
The gift is a rental so buying a rental is the most tax smart thing to do. It’s not something we have dreamed of doing but life sometimes presents you with paths you didn’t plan for. We still have the option of just paying the taxes.
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Sadly, RE in HI and in PNW went up in price significantly in the past 6 months. A friend tried to buy a cabin in a popular skiing area of WA, but they did not put a high enough price ceiling in their escalation bid. The place sold for 20% over its listed price. I keep hearing similar stories about Hawaii, too. In the beginning of the pandemic, listings there did not move at all. Now they’re snapped up like there is no tomorrow, but foreclosures might be coming…
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Same thing is happening just about everywhere it seems. In our community, realtors are knocking on doors asking owners if they’d think of selling their homes. There are no listings because houses are being sold without ever hitting the MLS. We are closing on our summer property in Maine this Thursday. We were (unfortunately?) the high bidder at 22% over asking price. It’s OK, though, we’ll make it up over the next two seasons in foregone rent, but the biggest win, for us, is that the temperature this coming Saturday where we are in AZ will be 100 but only 55 at the new property. Priceless.
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