Once you have children, your idea of a perfect holiday changes. Pre-children, it was most probably a week laid on a beach sunbathing and sipping cocktails. However, once you become a parent, the types of vacations that you enjoy change. Or, at least, the types of vacations that you choose to go on, change. The majority of families choose to stay in the country when going on holiday, instead of going abroad, simply because it’s easier, cheaper, and less stressful.
If you’re most probably going to vacation in the same area each year, then it makes sense to consider buying a holiday home. After all, holiday lets can be expensive, so it’s much better to invest in a holiday home, so that you’ve got somewhere to go and stay when you fancy getting away from it all and don’t have to worry about finding the perfect place that’s also within your price range.
Of course, the process of buying a holiday home isn’t a simple one. Just like with buying a property to live in all the time, picking the right area and property takes time. It’s not a process that can be rushed, and it’s important to realise that. To make the process of picking a holiday home easier, here’s what you need to do:
Decide on the type of property that you want
The first step when it comes to buying a holiday home is deciding on the type of property that you want. Obviously, your budget will have an impact on this, but it’s still important to take the time to think about what you want from a property. For instance, are you hoping for a two storey property or would you be happy with something a little smaller? Do you want it to have a garden? Is there a certain area that you want it to be in, such as a town by the seaside, for instance? Once you’ve got an idea of the type of place that you want, you can then start thinking about the other details.
Think about how much time and effort you’re willing to put in
Before picking a property, it’s a good idea to take the time to think about how much time and effort you’re willing to put into your holiday home. So, for instance, if you want it to be a project, then the chances are that you’re happy to put lots of time into it. However, if you want to be able to use it right away, then the chances are that you want somewhere that requires little doing to it. In terms of long-term maintenance, you need to think about what time you will have. For instance, say you pick a log cabin that is beautiful inside and out but requires staining with cabin stains at least once a year to keep the wood healthy. If you don’t have the time for this, don’t pick this type of property. Of course, you could always hire someone to deal with maintenance for you. Depending, of course, on whether you can afford to.
Do you want it to have rental potential?
Last but not least, ask yourself whether you want the property to have rental potential. Are you hoping to make back some of your money by renting it out for holiday lets? If so, you need to think about whether it’s in a prime location for holiday lets, and also, whether it has the potential to be successful. This is important, because if you buy it and need rental income to keep up with the payments, you want to ensure that it has the potential to be a sought after property for holiday lets.
So there you have it, everything that you need to know about buying a holiday home for you and your family.