Benefits of buying a holiday home abroad

There are many benefits of buying a holiday home abroad

For most people, the greatest advantage of a holiday home is being able to get away at the drop of a hat with minimum fuss.
Fancy escaping the drizzly UK summer? with a holiday home you are just a flight away from your perfect getaway. No trawling through travel and review sites trying to find a hotel that isn’t extortionately priced or fully booked; you have your very own perfect home from home, teabags in the cupboard and wine in the cellar, ready to go.

Rent it out for extra income

If you choose to rent out your holiday home when you’re not using it, you would benefit from another source of income.

Most people indulge in a holiday home abroad to use for specific holidays, or in retirement. A growing number are investing in properties abroad purely for the return on investment. They are tempted by developments promising guaranteed annual yields of 6% or 7%.

A property management agency will seamlessly manage the entire rental process for you. It’s important to realistically consider how cost-effective renting out holiday home will be. The rental income should cover management fees, taxes, bills, upkeep (your mortgage if you have one) and make a profit. Like any business profit, you could enjoy it or reinvest it into making your holiday home even better.

It can be risky to invest in a buy-to-let holiday home that relies on rental income to pay the mortgage. Most holiday destinations have peak seasons and off-peak seasons. The peak season must make enough profit to cover the mortgage in the off-peak season too.


Friends and family can visit

You will find yourself very popular with your friends and family when word gets out you’ve bought a holiday home.

Being able to host your friends and family members on holiday with you in your own home is a great advantage of having a holiday home.

It’s great for the whole family too. Your grown-up children can take their friends or their own family on an affordable budget.


An investment

Like buying a property in the UK, it can be a great investment. If the local area thrives and house prices rise, then you could end up selling for more than you originally brought it for. If over the years you put time and money into developing and improving the property, then this is also likely to help increase its value.


Saving money on holidays

When you own a holiday home, holidaying becomes a lot more affordable. All you require is a flight and spending money. If you go abroad often, in the long run you could end up saving money.

If you are considering purchasing a holiday home abroad, here are some fabulous destinations you may like;