Ever dreamt of having your own place for the pure pleasure of getting away from it all? If you are considering purchasing a holiday home, take a look at our top 10 tips for buying the perfect Holiday Home.
- Finding your Perfect Home. Check out the great selection of holiday home properties available from www.theipropertycompany.com
- Finances. It is essential that you are careful when considering the costs involved. There is not only the purchase of the property to consider, but the ongoing running costs. Second homes are taxed differently, plus there will be utilities, council tax and general maintenance costs to cover.
- Travelling Time and Number of Visits. Time is an important factor, if you are not able to visit very often, you need to ask yourself if it´s worth the time and trouble it takes to visit your second home. If you only plan on using it for public holidays consider factors like the increased traffic on the roads or the additional cost of flights if buying abroad. A recent survey conducted on behalf of The iProperty Company found that the average number of estimated visits to a holiday home was less than five per year. See our full survey here.
- Investment. If you don´t plan to visit often, the cost of holidaying at hotels will obviously work out less than buying, however your holiday property is likely to be a good investment in the long term, especially if you offer holiday lets as well.
- Time Involved. Owning a holiday property is not just about relaxing in the comfort of your own home. Cleaning and maintenance are very important and can be time consuming. If you don´t have time to do these jobs yourself, consider the extra cost of hiring help to maintain your property. If you plan on the DIY approach you need to accept that part of your holiday will be spent looking after your property.
- Holiday Lets. If you plan on letting your property to help with financing, there are a whole number of other factors to consider. You will have to ensure your property is well-maintained and carefully decorated. Your home needs to be nice enough to appeal to a wide range of renters, but robust enough to survive general wear and tear. Guests also have be greeted, provided with fresh linen and cleaning must be maintained to a high standard. You will also need to declare your rental income and manage your bookings. If taking out a mortgage you need to check with your lender for conditions that may apply to renting. If you plan on using the home as well, a lockable storage area will allow you to keep personal items at the property and secure anything valuable during rental periods.
- Location. In our survey here the coast and countryside were popular choices for holiday homes in the UK. As well as choosing a property in a location which you like, there are other things to consider. If you plan on retiring to your holiday home you will probably want to be close to shops and amenities. If your property is likely to vacant at times, a low crime rate will be reassuring. Also if you plan on selling at some stage in the near future, consider buying in a popular area. See our survey on holiday homes for a little extra insight.
- Type of Property. The kind of property you choose will be one of the most important decisions. Budget will probably be a major influence, but it is crucial to choose a property that suits your lifestyle. A charming country cottage with rambling gardens might be your dream, but if there is no-one there to mow the lawn it will soon turn into a complete nightmare. On the other hand if you have lived in the city all your life and want to spend every weekend gardening, it might be perfect.
- Size. If you have a large family to consider, don´t imagine that a shared bathroom will make for happy campers if they are used to having their own loo. On the other hand if you are considering a city location a small apartment that you can lock-up and leave might make perfect sense, especially if you plan on being out and about most of the time.
- Convenience. If you want the beauty of the countryside, but the convenience of an apartment it is possible to have the best of both worlds. A development with communal gardens or a pool can be purpose-built or part of conversion and might be the prefect compromise. But do consider there will be extra costs for community charges. See www.theipropertycompany.com for some great examples. There are also other huge advantages to having a holiday home. You can set up the property to suit your own requirements – great for pets and small children. Best of all you shouldn´t have to deal with too much packing and unpacking as you can leave everything you need right there, especially if you don´t plan on letting.
Here are some great examples of properties suitable for holiday homes at www.theipropertycompany.com now.