Hasn’t everyone thought ‘I would love to own a home here’ during a perfect holiday?
We have all arrived at a perfect cottage or apartment with views of the sea in a quaint fishing village and fallen in love and who wouldn’t want to own a little piece of an idyllic location, a bolt hole to escape the pressures of everyday life?
Owning a second home is a privilege and a responsibility, don’t lock it up and use it for a month or two a year, be savvy and welcome paying guests. Not only will you generate an income to help cover the costs associated with owning a second home, you will contribute to the local economy. Your guests will spend locally and you will employ local tradespeople, cleaners, agents etc and that in a seasonal holiday destination is important. Find the local architect, interior designer, decorator, carpenter or kitchen company, you really don’t need to bring your own team from home, there will always be some fantastic local companies so seek them out!
Think with your head as well as your heart, a property in the right location is a great investment, purchase prices may be inflated but get the location and style right and you can be confident that with the right marketing 35+ weeks of bookings a year is realistic. Consider your annual costs, these will include commission, cleaning / housekeeping, maintenance, gardening, utilities, insurance, service charges and possibly mortgage payments.
So what is it really like to own a holiday home and welcome paying guests?
Most of the time it is a pleasure, if you make the effort to provide a comfortable, stylish property your guests will appreciate it and take care of it during their stay. This is where social media comes into its own, people love to share photographs and experiences, get it right and your property may well circumnavigate the globe via social media.
Occasionally you may have guests who don’t quite respect your property as you would like, they are a rarity and as long as your housekeeper takes photographs and documents any issues you can always ask your agent to negotiate with the guest over any damage. Remember there is a difference between the odd broken glass and deliberate or neglectful damage. You need to build in wear and tear to your annual maintenance schedule.
So if you fall in love with a location, do your research and you too could own a successful holiday home that gives others that ‘I would love to own a home here’ feeling.