Buying a Holiday Home? Here Are 5 Things to Consider
Category Advice
Holi-YAY! Purchasing your very first holiday home is an exciting venture. There's nothing like knowing that you have a little hideaway to escape to whenever you need to relax, unwind and recalibrate from the hustle and bustle of life.
Perhaps this is your first rodeo and you need some good advice before you make this important property investment. We would love to share some key tips to help you choose the right holiday property.
Here are 5 things to consider when shopping for a holiday home
1. Location
The main question when it comes to property will always be around location. To start your search you will need to think about what kind of location you and your family will most enjoy during your downtime. It wouldn't do much good if you purchased a holiday home only to discover that the rest of the family didn't enjoy going there.
Here are some things to consider:
- What kind of property are you looking for? A seaside chalet? A tucked-away coastal townhouse? A family-sized lock-up-and go flat?
- Would you prefer access to amenities, conveniences and entertainment?
- Is it close enough to home to make regular breakaway trips?
- Would you have the budget to travel there and back regularly?
- Will the location add to the potential resale value?
- Does the location have investment potential?
2. Furnishing
Decorating your holiday home really shouldn't cost you an arm and a leg. Remember, this isn't your primary residence, so keep your furnishings simple and comfortable. Keep an eye out for bargains on good second hand furniture and tasteful decor to give your home a holiday feel. Visit your local flea market or a scratch-and-dent store, or browse online pages for deals.
3. Maintenance
Having a holiday home is wonderful, but just like any other property, it will need to be maintained. From tiny touch-ups to geyser replacements, wear-and-tear fixes to full-scale refurbishments, maintaining your holiday home is important to ensure it brings your family many years of joy.
Here are a few questions to think about:
- Do you have the breathing room in your budget to cover property maintenance?
- Would you prefer to outsource the maintenance to contractors?
- Are you up to the task of doing the maintenance yourself?
- Is the property within a reasonable distance for you to make regular maintenance trips?
- Will your budget cover property insurance for theft, water damage, fire or other kinds of unpredictable accidents?
4. Subletting
Would you consider sub-letting your holiday home for short periods? Renting out your property or even listing it as an AirBnb can be an excellent way to generate income and cover the added costs of maintaining your holiday property. If your property is based near the sea or popular holiday destinations you should have plenty of interest from holidaymakers from all over the country and abroad.
5. Security and management
Unless you opt to sub-let your holiday home while you're not staying there, it will remain vacant much of the time. A lock-up-and-go property will give you some peace of mind in terms of security. Alternatively a property on a lifestyle estate could offer you the kind of security you require. Furthermore, if you find that you won't have the time to manage your holiday property yourself, you might want to consider letting a property manager or agent handle that for you.
Let's find your dream holiday home together!
We can't think of anything more exciting than helping you find that hidden holiday gem. It's what we do best. So why not contact one of our offices or reach out to a SAProperty.com agent near you to set up a meeting.
Author: SAProperty.com
