There’s more to Panama City Beach than 27 miles of spectacular coastline, aquamarine waters, and bottlenose dolphins playing in the surf. It’s also an area brimming with vacation investment opportunities.
Located along the Gulf of Mexico in Northwest Florida, Panama City Beach is the quintessential warm-weather destination with an average of 320 days of sunshine. Every year, travelers fill up this city’s hotels and vacation rentals to bask in subtropical temperatures, dine on fresh-caught seafood, and fill their days with endless fun.
Before you invest in a vacation home in Panama City Beach to get your share of these bookings, here are seven things to do:
1. Understand Panama City Beach visitors
While Panama City Beach has universal appeal, it’s especially popular with:
- Families drawn to its expansive beaches and family-friendly attractions, including amusement parks and mini golf courses.
- Nature enthusiasts who want to swim, fish, birdwatch, hike, and bike in the area’s lush local and state parks, like St. Andrews State Park.
- Spring breakers who descend on the area’s ivory sands every March and April.
Understanding who is likely to book your vacation rental can help you market to them better. For example, you might want to purchase safety gates, child locks, and a playpen to make your home more child-friendly.
2. Get the lay of the land
There’s plenty of real estate to invest in beyond the beach. From bungalows in gated resort communities to shorefront homes on Lake Powell, options abound for vacation house hunters.
Plus, different neighborhoods tend to attract different travelers. For example, Lower Grand Lagoon—the epicenter for entertainment, dining, and adventure tours—is a popular area for visitors wanting the full Panama City Beach experience. Meanwhile, Long Beach is ideal for families who want to stay close to Shipwreck Island Waterpark, ZooWorld Zoological and Botanical Conservatory, and mini golf courses.
3. Get familiar with local vacation rental regulations
More and more destinations have rules and regulations that vacation homeowners must abide by. Before signing for a Panama City Beach investment property, make sure you know all the rules concerning vacation rentals—within the city, the neighborhood, and in the resort community or condo building you’re looking at. You don’t want to book your first guests only to discover that your HOA doesn’t allow short-term rentals or forbids third-party vacation rental property managers.
To make things easier, Vacasa has local property management staff in Panama City Beach who are knowledgeable about local regulations.
4. Know where and when the traffic is
Every popular destination can attest—the more travelers, the more traffic there is. Panama City Beach is no exception. The closer you get to the beach during prime time, the longer visitors should prepare to spend driving, even if a few blocks away. While you may not be able to avoid traffic entirely because of Panama City Beach’s popularity, you can be upfront with your guests on the best and worst times to travel within the city. Even better, look for properties that offer great walkability so you can use it as a selling point.
5. Plan for regular maintenance
Sand, salt, and sun can all wreak havoc on your Panama City Beach property. Consistent preventative maintenance—especially measures specific for beach homes—is vital to keep your vacation home in tip-top shape. Here are some ways to preserve your home (and possibly even increase its value):
- Regularly (and thoroughly) clean your home to prevent buildup of mildew and mold, even during off-season.
- Pressure wash your home’s exterior twice a year.
- Inspect your roof twice a year.
- Varnish any wood every season.
- Wash salt off the windows every season.
- Replace HVAC filters every three months.
