Whether you have been holiday and fallen in love with the place you are visiting or you just need a location to let your hair down and escape the rat race, second homes are in trend and more of us are making the dream a reality.
If you are fortunate enough to have a second home or the potential to purchase one there are many important factors you should consider before making the final decision. Firstly you must consider what it is you want from your holiday home.
Holiday homes to let
If you want a second home as a little earner on the side and are planning on letting it out to holiday makers, location is of vital importance. Choose a good location with amenities such as public transport, restaurants, bars and convenience shops in close proximity.
It is also important to keep the property well maintained and attractive to potential users. Although in the short term this will present an additional outlay, in the long term it could prevent major renovation costs when the property becomes worn and dated, therefore such running costs are necessary.
Keep it for yourself
To many the attraction of a holiday home is more than just for financial gain, it can provide people with a “home away from home” feel that is ready whenever you are. If you enjoy your home comforts when you are on holiday a second home can be the answer as the property can house belongings and quality furniture with sentimental value. This, in turn, removes the risk of poor accommodation when visiting holiday destinations, there is nothing worse than being greeted by poor accommodation after parting with hard earned cash. The property can truly be bespoke to your needs and tastes providing you with a blank canvas to customize and design with electronics, furniture and appliances.
Owning a second home has its lifestyle benefits not only to you but your family as well. Why not open your second home up to family and friends as and when they require it. It could also be used as a venue for the family to get together for celebrations and social events thus allowing everyone to enjoy the getaway location.
Why not use the second home for both letting and private use. This will allow you to earn a good return on your investment when the property isn’t being used by yourself or your family and with a good letting agent this shouldn’t take large amounts of time. The money earned this could be used to offset the mortgage or even for taking holidays elsewhere. If the security risks associated with letting are of concern remember that there are many good insurance policies available that will protect and even pay out for loss of income you should something happen.
About the author: Chris Algar writes for thefurnituremarket.co.uk who specialise in high quality furniture for the home.