If you are thinking about buying a second home that can be used as a holiday home for you, your family and maybe even a few select friends, then it is sure to be an exciting time for you. But it is probably also a rather confusing and daunting one too. 

Holiday homes do not come cheap. Therefore it is important that you make sure that you take your time. Explore all of your options and make the right choice for you and your loved ones. That being the case, below, are some of the key things you will need to consider before going ahead and buying that amazing new holiday home.

Location, location, location

First off, the golden rule of property: location, location, location! Now, this isn’t just about whether you prefer sun-soaked beaches, lush countryside, or vibrant city life. It’s also about practicalities. How easy is it to get there, especially if you’re planning quick weekend getaways? What’s the local area like – are there good amenities, activities and, most importantly, a decent pub? Make a mistake with the location and your holiday home could be a big flop, but get it right and your trips away could be sublime!

Purpose, purpose, purpose

Next, you need to ponder over the purpose of your holiday home. Is it going to be used simply by your family and friends, or will you perhaps rent it out to make some extra money when you are not using it?

If you plan to rent it out, then as well as thinking about the right location for your family, you will also need to think about whether your holiday home will appeal to tourists and, of course, you will need to see what the rental market is like in the area too, This may mean you need to compromise a little on what you want, but if it means you can offset the cost by renting, it may just be worth it. A sea-view flat might be your personal idea of heaven, but a quaint country cottage might be more appealing to potential renters and that is something you need to get to grips with.

Money, money, money

Now, let’s talk finances. Remember, it’s not just the cost of the property you need to budget for. There’s insurance, maintenance, possible property management fees if you’re renting it out, and don’t forget the taxes! It’s so important that you do the maths and work out exactly what the cost of holiday home ownership will mean for you and your family before you dive in and make an offer on your dream place, otherwise, it could end up being a bit more of a nightmare for you.

Property, property, property

Right, now that we’ve got the serious stuff out of the way, let’s move onto the fun part – choosing your property! There are heaps of options here, from traditional brick-and-mortar houses to the increasingly popular relocatable homes that you can actually move from one place to another if you decide that you’d rather be by the coast than in the countryside, for example.

When it comes to choosing the right property for you, it really is about personal preference, and perhaps what would most appeal to the local rental market if you are planning to let the -place when you are not using it.

Some people prefer the convenience of a relocatable home that will allow them to move if, in 5 years’ time they get bored of their specific area of the country, while some people prefer the solidity of an older home built with bricks and mortar while other prefer a modern city apartment with services included so there is always someone around to keep an eye on their property while they are not using it and all options are valid as long as they are affordable, suitable and exciting to you then go ahead and take the plunge.

Legalities, legalities, legalities

Now, don’t forget about the legal bits and bobs. Every country has its own rules around property ownership, especially for non-residents, so make sure you understand the legal requirements in your chosen location. A good property lawyer is worth their weight in gold here. You don’t want to end up buying a home that you cannot rent out or one that you are not allowed to stay in for more than a few days each year, so ensure you know your stuff and you will not be disappointed.

Seasons, seasons, seasons

Many popular holiday destinations have on and off seasons, and it is well worth thinking about these before you choose a holiday home in any area. Why? Because some tourist spots are not much fun in the off-season. Everything closes and it can be difficult to even find a nice pub or get a decent meal in this case. Conversely, in peak holiday season, some places can be so flooded with tourists that you cannot move around as effectively as you might like. So, think about when you would plan to visit most and ensure that the place has the right mix of availability and space for you and your family during that particular season.

Boats, boats, boats

Let’s get outside the box and consider an option that many people overlook: the houseboat. Yes, a houseboat! It’s not for everyone, but if you’re an ardent water lover, a floating holiday home could be your perfect escape. And it has the same bonus as a relocatable home – you can change your view whenever you fancy!

Time, time, time

And finally, a word of advice: don’t rush your decision. Buying a holiday home is a big commitment, so take your time. Visit potential properties at different times of the year, chat with locals, stay overnight if possible. Make sure you absolutely love the place and it feels like a home away from home.

Holiday homes can be an amazing addition to your life, but you need to take your time and be sure to make the right choice. Happy holidays!