There’s a good reason why they are called holiday homes and owning one will undeniably add to your comforts. It could be that you are at that age where you just want to settle down and concentrate your efforts on raising a family in a posh environment or that you’re just tired of those regular trips to the Bahamas and you want to bring the Bahamas to you. These are just among the reasons why most people invest in holiday homes. But the thing is, buying a holiday home is not as easy as it may sound.
When buying a holiday home, you’ll be making a worthwhile investment decision that can make you money on the long haul as you can rent it out during the months or weeks that you’ll not be using it such as enlisting your holiday home to Airbnb. But first, you’ll need to find the perfect home that suits your needs. You’ll need to get your head around various choices when shopping around. To narrow down your search, below is a complete buyer’s guide to holiday homes.
1. Types of Holiday Homes
Before going for just any holiday home, it’s important that you first decide on the type of holiday home that you want. Over the past few decades, holiday homes have continued to grow in popularity. This is because compared to conventional and traditional homes, holiday homes provide a lot of benefits in terms of space, privacy, comfort, and facilities. After reading this property guide, you’ll be in a better position to decide on the type of property you want depending on your needs and budget. Whether you want a holiday home in a quaint and serene environment or an isolated suburb, there's always something for everyone. To cut the long story short, below are different types of holiday homes, they include:
Cottages – Cottages are perfectly designed for families and have everything that you may need for a family setup.
Beachside holiday homes – Now, these are what you’d call the perfect holiday homes. They’ll provide you with a magnificent view of the sea/ocean as they are characterized by large sliding glass windows and doors.
Grand country mansions and castles – These also fall in the category y of holiday homes. These will be the perfect investments for rental purposes. You can turn a castle into an ideal accommodation for families on holidays and business retreats.
2. Choosing the Perfect Location for Holiday Homes
If you’re considering buying a holiday home, then you must prioritize whether you want the home as a lifestyle investment or for commercial use and in both cases, location is key. For starters, proximity to amenities is a key factor that you’ll need to consider when choosing the perfect location. These can include shops, restaurants, bars, and pubs. Additionally, you may also opt for holiday homes built near tourist attraction sites such as beaches, scenic parks, or golf courses. But all this will depend on your preferences and inclinations because there are people who’ll prefer that woodland ramble environment and natural beautiful isles of the countryside.
3. The Must-Have Holiday Home Essentials
When it comes to buying the perfect holiday home, it’s important to factor in your needs. It’s very easy to get caught up in unnecessary jargons that can affect you in the long run. Ideally, ensure that the holiday home has the essential facilities and features that you and your family needs such as good heating, water, electricity, and fast internet connection. You’ll need to ensure that there are enough bathrooms, a lounging area, a balcony lounge, patio, an ideal kitchen, and a modern living area. It doesn’t hurt to have other luxuries added such as a kids' playground or a swimming pool.
4. Legal Considerations
There are legal requirements that you’ll need to factor in when buying a holiday home. This is arguably the less exciting part and one that is often overlooked. This includes holiday home rules and regulations for both private and rental investments. For starters, owning a holiday home is a huge investment which means higher stamp duties. In addition to this, you’ll need to comply with various obligations such as those that concern potentially hazardous facilities such as Jacuzzis, swimming pools, and fire safety. Other legal aspects that you’ll need to consider before buying a holiday home include the planning rates, insurance, and tax liabilities. Whether buying or renting, it’s important to have your solicitor draw these considerations for you. This way, you’ll have everything checked out before making a mistake that could end up costing you more.
5. Financing
Your choice of a holiday home will be determined by the budget you’ve set aside for the purchase. Being a huge investment, you may need to consider a mortgage. In addition to this there will be other ongoing costs that will need to be factored in such as the annual site fees, electricity, gas, insurance, and the general maintenance of the home. You may choose to subsidize the cost of holiday home ownership by renting it out whenever it’s not in use.
Now, whether it’s a slice of the seaside or a scenic mountain view that will complete your dream of owning a holiday home, the above pointers will help you to decide on what, how, and where to buy the perfect home.