Going on holiday is great. Finding the perfect location, whether that’s for beaches, skiing, walking or a city experience, and then just being able to settle and relax for a few days. But of course, holidays cost money, and when budgets are tight, money needs to get the best possible time for you and your family.
We had a chat to the team at Bath Holiday Rentals about how a holiday property can save large groups and families money on their holidays over the course of a life time.
Finding the perfect location can be a real case of trial and error, with everyone having heard nightmare stories of rubbish holidays in disappointing locations. That’s why when you’ve found a place you truly adore, somewhere you’ll never tire of, and you’re looking for an investment, you should look at investing in a holiday property.
Owning your own holiday property comes with its own issues, but it also comes with a ton of benefits, from rental income to free accommodation on holiday for you. Provided you can get someone to clean after tenants, it can become a form of passive income, which can be very helpful. The main benefit of investing in a holiday property however is being able to save money on accommodation, for your family and for large groups of holidaymakers.
First off, finding the right holiday property, in a desirable location that you adore is crucial. Just because you love that seaside town you went to as a child doesn’t mean everyone else does! You need somewhere popular, where you can rent the property out to other holidaymakers when you’re not using it, and providing you choose somewhere popular, the property will pay for itself through rental income. Make sure you don’t end up with a property in a location you’re going to get bored of! You won’t get much benefit from that! Much like any real estate investment, as you start getting steady rental payments, you can start covering the mortgage repayments, and eventually end up with your own property, having paid none of the mortgage out of your own pocket.
On top of being a spectacular investment, a great holiday property obviously also makes for substantially cheaper holidays. When you only have to deal with travel, food and activities, the cost drops way down, especially if you’re travelling as a group or a family. You could easily turn what would usually be a £1500 holiday in your favourite place into a £500 holiday! You’ve just got to the think about how much you usually spend on accommodation.
Staying in a property or a hotel for a week or two can be so expensive, and you negate that entirely by owning your own property, plus you can lend the property to close friends and family free of charge! Holidays are an essential, healthy part of busy modern life, and making yours substantially cheaper will mean you can go on more and longer holidays.
Don’t you hate attempting to plan and organise a holiday last minute? Attempting to line up all the dates and times, sorting key pickups and other logistical issues? That’s no issue when you have your own holiday property. The whole point of a holiday is to relax and get rid of stress, don’t stress yourself in the process! When you have your own holiday home, not only have you got a sound investment, and cheaper holidays, but you’ve also always got somewhere to stay. No longer having to fret and plan about accommodation for hours beforehand can be very useful, and it can be so reassuring always knowing you’ve got your property to fall back on.
Investing in a holiday property can save families and large groups substantial amounts of cash when compared against standard holidaying. On top of this, you can even expect a profit at the end of the venture, when the mortgage is fully paid off. Provided you find a popular holidaying location that you love, somewhere you can lovingly visit time and time again, then you can’t go wrong. Like all investments however, success can be determined by the amount of research you do, so never rush into buying a property, as it’s a sure way to find yourself stuck with a dud.