Could Owning a Holiday Home Be More Practical Than You Think?

When it comes to buying property, most of us struggle enough to own just one home. Whether it’s saving up for a mortgage deposit or just the idea of making large regular payments, owning a home is tough and takes a lot of work to accomplish. Since owning a home is so difficult, you might find that owning a holiday home is the farthest thing from being practical.

But you might be surprised to find that owning a holiday home can be more convenient and practical than you might think.

There are a number of reasons for this too. In this post, we’re going to explain why owning a holiday home is more practical than you think. Hopefully, by the end of this post, you’ll be more open to the idea of purchasing a holiday home.

There are countless locations for you to invest in a holiday property

One of the great things about buying a holiday home is that you have countless options to pick from. Whether you look for an apartment for sale in Singapore or a rural house in France, there are plenty of locations for you to invest in. This allows you to pick a place that is best for rental income, or you can choose a location that is special to you.

You’ll find lots of options for purchasing a home

In addition to the local itself, you’ll typically be given lots of different options when purchasing a home. For example, there are lots of apartments for sale if you’re looking for something small and inexpensive. However, you could also purchase a large house if your budget allows for it and you want to maximize the amount of space you’re getting for the investment.

You can rent out your holiday home when you aren’t using it

One of the great things about owning a holiday home is being able to rent it out when you’re not using it. If you’re going on holiday, then you can ensure that you have nobody renting your home during the period that you want to take a vacation. However, for every other day that you’re not actively living in the property, you can rent it out with the help of managed services. They’ll typically charge a fee for their services, but it’s a great way to ensure that your property is looked after.

It’ll offset your holiday costs, but it can limit where you go for a break

Since you’re making a bit of profit from your holiday home when it’s not in use, it’ll offset the costs of your own holiday. In some cases, you could be earning enough to fund a long holiday every year.

Short-term lets actually make more money than long-term lets

One of the benefits of owning a holiday home is renting it out, but did you know that the majority of short-term rentals actually make more money than long-term lets? Since most people will be renting out your property for holiday purposes, it means that you can get by with just short-term rental periods.

But let’s not forget the ongoing costs and maintenance

While the costs of maintaining a home aren't extremely high, it’s useful to keep these costs in mind to ensure that your home is properly taken care of. These costs should be considered as part of the ownership cost of a holiday home. Despite the extra fees, you’ll find that owning and looking after a holiday home can be more practical and affordable than you first thought.

Hiring a property management service can help, but it’s going to cost you

If you’re finding it difficult to manage your property, or if you’re simply too far away to manage it, then you have the option of hiring a property management service to help you. These services will do everything that you typically do. This includes tidying your holiday home, making improvements, repairing things, and even communicating with tenants. It’s highly configurable and will save you a lot of time and money in the future.

Your income isn’t going to be as stable as you think

Lastly, don’t invest in a holiday home if you’re purely in it for the profit. There are much easier ways to make a profit without having to purchase and manage an overseas property. You should only invest in a holiday home if you enjoy the country that you’re investing in and have plans to go there frequently for your holidays.