Top 10 places in the U.S. to buy a home for summer vacation: level of ROI

Purchasing real estate is a significant investment decision and, according to some experts, one of the best decisions you can make right now, especially if you plan to use the space to generate additional income. Vacasa, a vacation rental management platform, exclusively provided CNBC Make It with its new ranking of the best places to buy a vacation home based on capitalization rate, also known as return on investment. To determine the ranking, Vacasa did the following:

• Researched home sales data and vacation rental performance over the past 12 months.
• Used actual data on the performance of the market as a whole, where possible, to determine average gross rental income.
• Used average property taxes, utilities, housing management fees, insurance, and property management fees to calculate the average capitalization rate.

It's important to note that Vacasa recommends that buyers check local laws before purchasing a vacation home they plan to use as a rental property because different places have different rules regarding rentals.

Lake Anna, Virginia

For the past two years, Lake Anna, Virginia has topped the list of the best places to buy a vacation home. Lake Anna is the second largest lake in Virginia and has about 200 miles of shoreline. It is divided into two parts: a public side with waterfront restaurants and a private side where no commercial activity is allowed. The lake is also easily accessible to residents of Fredericksburg, Richmond, Charlottesville, Northern Virginia and Washington, D.C.

Lakeside homes in three counties with plenty of waterfront options offer a capitalization rate of 10.32% for homeowners, according to the Vacasa report.

Okaloosa, Florida

Okaloosa is an island in Florida located just six miles from the popular tourist destination of Destin.

Okaloosa is part of Santa Rosa Island, which also has communities such as Pensacola Beach and Navarre Beach.

Sandbridge, Virginia

Sandbridge, Virginia, ranks third in the rankings. This Virginia Beach coastal community is located just 25 miles south of Virginia Beach and is considered part of the Outer Banks of North Carolina. Secluded Coast offers an average annual rental income of $88,702, a median home price of $928,900 and a capitalization rate of 6.47%, according to a Vacasa report.

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