Pros and Cons of Living in a Tourist Town

City skyline - information on where to relocate.Are you considering relocating to a popular travel destination? Before making the big move, take a few moments to understand the pros and cons of living in a tourist town.

Pros:

The biggest benefit to living in a tourist town, is the fact that you’re living in a popular place. For whatever reason, be it proximity to natural attractions, a crowd-drawing industry (ie Hollywood, CA or Branson, MO) or a rich history, your hometown will have something good to offer. There will also most likely be a thriving economy. After all, more tourists = more money circulating in the local economy. When tourists flock to a destination, it’s not just the hospitality and tourism industries that get a boost. Gas stations, drug stores, gift shops and restaurants also can benefit from a tourist influx.

To summarize, the pros of living in a tourist town can include…

-living in a popular place
-close proximity to attractions (beaches, mountains, historical sites, culture, theme parks etc.)
-thriving local economy

Cons:

Have you ever heard someone say, “It’s a nice place to visit, but I wouldn’t want to live there”? This can be a common attitude toward many tourist towns, for a variety of reasons. Life in a tourist town can include drawbacks that may make life difficult for locals. From high home prices to large crowds to employment fluctuations, living in a tourist town isn’t for everyone.

If your town’s tourist attractions are seasonal, expect to see high rises in employment just before the season kicks off, followed by a steep drop once the season ends. If you are able to find steady employment throughout the year, this may not affect you directly; however, the ups and downs of a seasonal town can affect other aspects of life. Once the season ends, some businesses close, which could limit where you/your family shop, eat or find entertainment.

In summary, the cons of living in a tourist town include…

-higher home prices
-large crowds
-seasonal ups and downs in employment, local economy, etc.

One last piece of advice: Make sure whatever defines your town is something you/your family will enjoy. For instance, if you hate the cold weather and dread shoveling snow, you probably won’t be happy in Aspen, CO. If you don’t care for the ocean, living in Sunset Beach, HI won’t offer you many thrills. Wherever you settle, make sure it’s a place you’ll be happy to call home.

Be sure to check out our mortgage education center to find more tips and information on the home buying process.

American Financial Resources is a direct mortgage mortgage lender who provides competitive mortgage rates and mortgage information to homeowners and potential home buyers. Call today for a free rate quote and home loan consultation - 800-316-9508.

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