4 things you need to consider when looking for a holiday property
Searching for a holiday home can seem daunting, but with careful consideration you can find a property that’s perfect for you.
Owning a holiday home sounds like an idyllic prospect, enabling you to enjoy regular holidays with your loved ones, and even offering you the option of making some extra cash through rental income.
However, with so much choice out there, searching for the right holiday property can seem a little daunting. Luckily, we have some tips and guidance to help set you on the right track.
Set your budget
Before you begin your holiday home search, it’s essential to sit down and work out how much you are able to spend – after all, the last thing you want is to fall head over heels for a property, only to find out that you can’t actually afford it, so it’s important to set a realistic budget from the outset. As well as the purchase price, don’t forget to also factor in additional costs such as resort maintenance and upkeep fees, community fees, and property management costs. If you plan on running the property as a holiday rental, you will also need to pay tax on any profit that you make.
Once you have a budget in place, you can begin researching possible locations for your holiday home. There are loads of great holiday resorts out there, so to narrow down your search, think carefully about the type of holidays you and your family enjoy. Do you like a busy seaside resort with lots of things to do, or do you prefer a quieter, more relaxing break in the countryside? If you will be renting out the property, consider what features would most appeal to fellow holidaymakers. And don’t forget to take into account distance and ease of travel – the easier (and cheaper!) it is to get to your property, the easier it will be to rent it out. Once you have an idea of what you want, you can look for those resorts that have facilities and amenities that best match your requirements.
Consider your requirements
As well as finding a suitable resort, you also need to find a suitable property. Holiday homes come in all shapes and sizes – from studio city apartments to beachside villas in Spain – so give some thought to what type of property would best meet your needs. Do you have a particular kind of property in mind? Would you prefer an apartment in a block or a standalone property? How many bedrooms will you need? Do you want access to a pool and other amenities? Don’t forget, your requirements are likely to be very different if you are buying a rental property rather than a home for family holidays.
Do your homework
Different countries will have different regulations and legal requirements pertaining to property purchases – for example, you may need to register the property with the local authority, or obtain a licence confirming that it meets safety standards. Failure to comply with regulations could result in hefty fines, so be sure to do your homework on the situation in your chosen country before committing to a purchase. It’s always a good idea to hire a solicitor who is familiar with the area to help guide you through the legal landscape and ensure you are doing things correctly.
Owning a holiday home can be incredibly rewarding, as long as you find the property that’s right for you – and by doing your homework and carefully considering your options you can soon be the proud owner of a holiday home that perfectly meets your needs.