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How to find the right holiday property for you
Finding the right holiday home is not always straightforward, but with careful consideration you can find a property that work perfectly for you.
Buying a holiday home can be a really attractive proposition, enabling you to enjoy regular family holidays and offering you the opportunity to make some extra money through rental income.
However, with so much choice out there, finding the right property is often easier said than done. Our top tips will guide you through the process and help you to find the perfect holiday home for you and your family.
Choose the right destination
When it comes to buying the perfect holiday home, choosing the right destination is absolutely key. If you have a resort in mind, take the time to do a little research. Find out what facilities and amenities are on offer in the resort and surrounding area, and consider whether the location is a good match for the type of holidays you and your family enjoy – for example, do you like a buzzy resort with plenty going on, or do you prefer a more peaceful, laid-back holiday? If you’re planning on using your holiday home primarily as a rental property, it’s also worth looking at which destinations and resorts offer the biggest potential rental market.
Consider the property type
Holiday homes come in all shapes and sizes – from large villas to studio apartments. Narrow down your choices before you start looking by thinking carefully about your requirements and the property type that will best meet your needs. Do you have a particular kind of property in mind? How many bedrooms will you need? Would you prefer an apartment in a block or a standalone property? Do you want access to a pool and other amenities? Consider how you want to use the property – if you plan on mainly using it as a holiday rental, you may have a very different set of requirements than if you were going to use it as a base for family holidays.
Set a budget – and stick to it!
When looking for a holiday home, it’s easy to get carried away and fall in love with a property that you simply can’t afford – so it’s important set a realistic budget from the outset. As well as the initial purchase price, you also need to take into account any additional costs, such as community fees, and bills for gardening, pool cleaning and utilities. For holiday rental properties you will also need to factor in property management fees and costs for marketing and promotion. And don’t forget that you will need to pay tax on any rental profit that you make.
Don’t get caught out
Different countries all have different regulations and legal requirements pertaining to property purchases. To avoid getting caught out, and potentially facing hefty fines, be sure to do your homework and familiarise yourself with the legal situation in your location of choice. For example, you may need to register the property with the local authority, or obtain a licence confirming that it meets safety standards. Legal experts Sarah Waddington Solicitors recommend always hiring a solicitor who is familiar with the area to guide you through the process.
Finding a holiday home doesn’t have to be difficult. With careful consideration and some background research you can find a great property that perfectly meets your needs.