There are many of us that harbour dreams of one day buying our own holiday home. Not only can it be a treasured home away from home, a place to escape to when your everyday routine gets tedious, but it can also be a fantastic investment to consider. In this post, we’re detailing the most important things to look for when buying a holiday home, to ensure that your get the very best value for your money and get to enjoy your property for years to come.
- The right location
The location of your holiday home is perhaps one of, if not the most important thing to consider when it comes to weighing up your options. Where you choose to purchase your holiday home ultimately depends on what you actually hope to gain from the property, whether that be simply a place for you and your family to enjoy, or something you hope to make a profit from. If your goal is to earn money, the location becomes even more important. Ask yourself questions such as, is it easy to get to? Are there any attractions nearby? Take the time to research and familiarise yourself with the area before making your final decision.
When holidaying or buying property in another country, it’s easy to forget that the basic rules of home security still apply. Mainland European countries tend to have a lower crime rates than that of the UK, however, the risks are still very much present. Security is another factor to consider when purchasing your holiday home, especially when researching the location. If you intend for your property to be solely for your own enjoyment, it’s important to consider the fact that it will be vacant for extended periods of time throughout the year, and those that are more rural and isolated tend to be at a greater risk.
Many countries offer schemes where holiday home owners can sign up to have their houses regularly checked by police when they are vacant. On the other hand, if you hope to turn your property into a business, it’s likely that it will be occupied frequently throughout most of the year. However, it does mean that you will be opening up your home to people, and will need to take security precautions.
- Is it legal?
If you plan on purchasing a holiday home in the hopes of turning it into a profitable business, you’ll need to check that it’s legal to do so in the specific area, before getting ahead of yourself with your plans. This something that many people aren’t actually aware of, so it’s important to clue up on your legal obligations. You may be required to gain planning permission for change of use of the property, as well as registering for business rates.
There is obviously a lot to consider before investing in a holiday home but one of the most important considerations is a personal and family one. You will know yourself whether you will be happy returning to the same place numerous times. Perhaps you already do this in a caravan or the same hotel and so you can be confident that you will enjoy visiting your favourite place with all the comforts of your own home.
Written by Rebecca Martin, blog writer at UniBaggage.com.