Today, a lot of families love to travel, using every school holiday and bank holiday to get away. The only downside to traveling as a family is that once the kids reach school age, you can only really get away in the school holidays when prices triple. How a lot of parents are getting around this issue is by investing in a holiday home of their own, so that when it comes to traveling all they have to pay for is the transport.
Obviously, buying a second home isn’t going to come cheap, which is what puts a lot of families off of investing in property abroad or in regions of the UK that are popular travel hotspots. However, the fact is that holiday homes have fantastic rental potential in peak season and can bring in a fantastic income. If you’ve always dreamed of investing in a second home to use for family holidays and to rent out as an extra income stream, perhaps now could be the ideal time to buy?
To make the process of buying a holiday home a little easier, below are some useful tips and pieces of advice.
Be selective about the location
When it comes to the location of the holiday home that you buy, you need to be selective about the location. The first question that you want to ask yourself is, do you want it to be in the UK or abroad? Next, you need to determine what sort of area you would like it to be in, the countryside, near the sea, or in the city? Rural properties tend to sell at lower prices, but the rental potential will also be lower, whereas the potential for suburban and seaside properties tends to be much higher, like the seaside properties on offer from Lupain Estate Agents. What you also want to do is pick a destination that’s easy to get to, either it’s quick by air and flights fly all the time, or it’s somewhere in the UK.
Never buy without viewing the property
It can be tempting to make an offer on a property that you’ve never seen before if it looks the part in the photos, but don’t make this mistake. The fact is that photos can be deceiving, they can only show parts of a property, which is why it’s so important to always view properties in person before agreeing to buy. If you can’t view the property yourself, you could always send a trusted friend or family member to do so. Perhaps they could call you on video chat while they are there and give you a virtual tour of the property? Obviously, viewing the property in person is always best, but if you’re not able to do that, a virtual tour can be the next best thing.
Think about the potential it has
One of the most important factors to consider when it comes to viewing a property that you are interested in investing in as a second-home is to think about the potential it has. What you want to do is look at the potential the property has as a holiday home for you and your family as well as for other families. What size is it? What facilities does it have? What area is it in? What you want to do is think about the potential that the property has, to ensure that it’s a good fit for what you hope to use it for.
There you have it, everything that you should know if you’re dreaming of buying your own holiday home.