A holiday home can be an expensive way to spend a lot of your holiday time in one place but there are so many advantages to consider as well. A holiday home is a brilliant investment and can make a real difference to the way you live. Many Brits enjoy visiting a caravan at the weekend but a holiday home can be far superior.
If you have ever considered investing in a holiday home but you aren’t sure whether it’s right for you, here are a few things to consider.
Let it When You Aren’t There
When you buy a property, you are investing in an asset. This means that you can work on your property to increase the value over time, borrow against it and you may even consider your holiday home a good retirement proposition. A great way to make your holiday home pay for itself is to let it to other people when you aren’t there. This is a brilliant way to make your asset work harder for you. You can find holiday let mortgages for your specific needs too.
If you do plan to let your property, you do need to understand that there are other financial consequences too. HMRC will want to know about your income and earnings on the property and will tax your profits. Similarly, if you are using a holiday letting agent, they will take a percentage of your earnings for listing your property. You might also consider hiring a cleaning service as well as someone to meet and greet your guests.
Visit Whenever You Like
The best advantage of having a holiday home is that you can visit whenever you like. Because you know that you have somewhere to stay, you don’t need to worry about flight times – just pick the most convenient or affordable way to travel. You may even find getting cheap flights much easier. Similarly, you won’t need to worry about check-out times or additional charges that come with the peak season.
However, if you are planning to let your property, you do need to consider whether visiting at peak times is a good idea. The peak season will be where you can make the most profit from your holiday let so you might want to set a couple of weeks aside for this reason.
Enjoy Home Comforts
A luxurious hotel is hard to beat but there is one option worth considering: a holiday home that you can design with everything you need and want. The joy of designing a holiday home is that you can go a little wilder with your interior design scheme and choose ideas that you wouldn’t normally go for at home.
When you’re designing your holiday home, you don’t need to worry about the same things as you do at home. For example, you will need storage but you only need to consider storage space for a suitcase-worth of stuff. This means that you can be more minimalistic in your design and create a greater sense of space.
The other great benefit is that you can invite who you want. You don’t have to share your space if you don’t want to – you can enjoy the pool to yourself, pick the sun lounger of your choice and you won’t have to deal with other people’s children splashing you while you enjoy the sun.
The Joy of Familiarity
Travel lovers often enjoy the novelty of discovering a new place but there is also something wonderful about becoming familiar too. A holiday home will entice you back again and again, so while the thrill of exploration may wear off, you will find a second home. The great benefit is knowing all the best places to eat, the coolest things to do and you’ll develop a sort of local’s knowledge of the place – a bit like being a tourist in your home town.
As the place becomes more familiar, the people will too. You will find yourself making seasonal friends, getting to know the locals as well as other regular holidaymakers. This is one of the lovely things about caravans – you know your neighbours but you only ever see each other when you are relaxing on holiday.
Owning a holiday home is a big investment but it is worth it when you know exactly what you want. Taking care of your holiday home and letting it out when you aren’t there is a good way to grow your investment and in time, you might even retire here too.