We’d all go bonkers without a break from the old routine every once in awhile. Access to white sands, blue seas and quick access to a range of reasonably priced cocktails can make any of the stresses of home life seem to melt away. But getting a place in the sun can be more than a welcome break, it can be a lucrative investment opportunity. Purchasing an overseas property that you lease to other holidaymakers and eventually use yourself seems like the easiest and most enjoyable money you’ll ever make doesn’t it? While it’s a worthy investment, it’s also one that requires a good deal of consideration and exhaustive research. You need to have a healthy understanding of the local property market as well as the seasonal scope of tourism operations wherever you choose to buy.
If you’re thinking of investing in holiday accommodations in Spain or splashing out on a Swiss chalet, it’s important to invest in property that’s appealing to both yourself and other like minded travellers. Thus, a holiday home worth its salt should have the following if you’re going to get the kind of return on your investment to make it a viable enterprise…
You may not be able to ensure that your holiday home is occupied 52 weeks out of every year, but it’s equally important to invest in areas that will see a healthy amount of visitors whatever the season. A property that’s only occupied for three or four months out of every year is going to represent a serious drain on your resources. If you’re only able to secure a property that people will realistically only visit in holiday season, you need to ensure that you’ll be able to charge a rent that will see you through the dry months without ripping off tenants or forcing them into the arms of other, cheaper providers,
Underestimate the importance of Wifi connectivity at your peril. While we may remember a time when we all kept our mobile phones switched off throughout our holiday, our increasing reliance on internet connectivity for communications and entertainment as well as the opportunity for working holidays means that not having Wifi access will seriously limit your property’s appeal. While all but the remotest areas are usually have the infrastructure for providing high speed wireless internet, you may have to resign yourself to paying to keep the Wifi running all year round even when your property is vacant.
Proximity to local attractions
Many tourists are skittish when it comes to travelling abroad and though taxis are much cheaper in most areas than they are in the UK, proximity to local attractions will add enormously to the appeal of your property. For example, your property should be within walking distance of a beach and ideally be close to amenities such as bars, cafes, restaurants and shops (or at least within easy travelling distance).
With just a little nous and a whole lot of planning and research you can easily bag yourself an affordable investment that will not only provide a welcome retreat for you and your family, but an investment opportunity with a year-round yield.