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This Virginia Lake Town Was Just Named the Best Place to Buy a Vacation Home
Cutalong at Lake Anna
With more than 200 miles of beautiful shoreline, Virginia's second largest lake is a haven for vacationers seeking a laid-back vibe and stunning waterfront views. During the warmer months, the area becomes abuzz with water sports enthusiasts, sunbathers, and those simply seeking to escape the hustle and bustle of nearby Washington D.C. (the nation's capital is a short hour-and-a-half drive). But as it turns out, a home on Lake Anna is also a pretty sound real estate investment; the area just topped Vacasa's latest report on the best places to buy a vacation home based on capitalization rate or return on investment.
According to the vacation home rental company, Lake Anna homeowners can expect to make an average of $81,293 in yearly rental income, which equals a capitalization rate of 12.2 percent.
"One of Virginia's most beloved destinations, it's no surprise that Lake Anna is so appealing to potential vacation homeowners with 17 miles of sandy beaches, a state park filled with wildlife, French-style wineries, and host of seasonal outdoor activities," Daned Kirkham, senior director of real estate for Vacasa, told Travel + Leisure. "For those looking for a high return on their vacation rental investment, Lake Anna attracts a myriad of travelers year-round, providing second home buyers with a steady stream of guests and vacation rental income."
What's more, the median home value in the area is $435,000, which is more affordable than other popular lakefront communities across the country. What makes the lake attractive to second homeowners is that it has a "private" side where no commercial activity is allowed and a public side where guests can enjoy waterfront restaurants and beaches.
Lake Anna has long been a favorite retreat of families in Virginia and beyond. The freshwater reservoir was created in the 1970s to provide cooling water for a nearby power plant. As a result, the southern edge of the lake, known as the "hot side" among the locals, is much warmer than the northern shore, where the plant releases the water after cooling its turbines.
The best way to explore the lake is to rent a kayak, a canoe, or a stand-up paddleboard, and if you are traveling with a large group, a pontoon boat that fits up to 15 people. Water and Jet Ski rentals are also available for those looking for an adrenaline-fueled experience. Lake Anna is also a perfect place for fishing enthusiasts, who flock here for its plentiful striper and largemouth bass supplies. And a 3,127-acre state park with a large public beach is the perfect spot to soak up some vitamin D and have a family picnic while enjoying the beautiful views. There are more than 15 craft breweries, wineries, and distilleries in the towns surrounding the lake (Cooper Vineyards and Lake Anna Winery are two must-sees), which makes it easy to find something to do when not at the lake.
Other destinations on Vacasa's list include Port Aransas, Texas, which takes the second spot with a cap rate of 10.7 percent and $53,717 in rental income potential, and Palm Coast in Florida with 10.3 percent cap rate and $59,482 in potential income.
August 1, 2024, Lake Anna, VA — The groundbreaking ceremony for the Cutalong Golf Clubhouse, held on July 30, 2024, marked the official commencement of a new, master-planned resort-style new home community located on Lake Anna in Louisa County, Virginia. Attended by local officials, community leaders, and key stakeholders, the event was honored by the presence of The First Lady of the Commonwealth of Virginia, Suzanne Youngkin, who spoke as a distinguished guest. The ceremony highlighted the community's promising future and its anticipated positive economic impact on the region. The fully-built development is expected to contribute significantly to Louisa County's economy, with an estimated annual impact of $6.5 million. This figure includes $5 million from property taxes and over $1.5 million from transient occupancy taxes. Additionally, the project will generate over 200 full-time jobs and 150 construction and skilled trade positions during the development phase. The property spans 1,000 acres bordering Lake Anna and is poised to become a premier destination in Virginia. The development plan includes 891 residential entitlements, featuring estate homes and homesites, executive homesites, cottages, villas, townhomes, and luxury condominium accommodations. Cutalong Golf Club, the centerpiece of the community, boasts a meticulously designed 18-hole championship golf course by renowned architect Tom Clark and was recently ranked as a top 5 best new private courses in America, by Golf Digest. The clubhouse groundbreaking signifies the first major milestone in developing this highly anticipated lakeside resort community. "Today's groundbreaking marks an exciting milestone for Cutalong and the community," said Joe Walsh, Project Director. "We are incredibly grateful for the overwhelming support we've received from the local community and our partners. It's an exciting time as we bring a premier family lakeside resort and private golf community to Lake Anna, enhancing the charm and appeal of this beautiful area. We are committed to delivering an exceptional experience that will not only enrich the lives of our members, their guests and visitors but also contribute positively to the greater Virginia region." The ceremony featured remarks from notable county officials such as Duane Adams, the Chairman of the Board of Supervisors in Louisa County, Christopher McCotter, a Member of the Board of Supervisors in Louisa County, Chris Coon, Deputy County Administrator of Louisa County and key figures including Jared Lucero, Partner and CEO of Reef Capital Partners. The event was further distinguished by the presence of The First Lady of Virginia, Suzanne Youngkin, who participated in the ceremonial groundbreaking. “The economic development at Cutalong is poised to significantly benefit our region and the entire Commonwealth,” said Suzanne Youngkin. “Cutalong aims not only to provide homes but also to foster recreation and engagement with nature, promoting wellness and community connection. I’m excited to see how it flourishes.” For more information about Cutalong Golf Club and future community, please visit Cutalong Lake Anna.
Golfweek's Best Private Courses 2023: State-by-state rankings of private courses. Cutalong at Lake Anna was recently ranked top 10 private courses in the state of Virginia. Link to the Golf Week's Article - https://golfweek.usatoday.com/lists/golfweeks-best-private-courses-2023-state-by-state-rankings-golf/
Cutalong Golf Club was recently ranked in the top 5 best new private courses in America, by Golf Digest
The premier master planned golf-centered community on Virginia's Lake Anna.
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