Many of us dream of owning a holiday home in the sun that we can escape to whenever we like. Whilst it is a big investment, there are lots of practical reasons as to why a holiday home could in fact be a great idea. Here are just a few reasons to buy a holiday home.
You can furnish it how you want
By owning a holiday home you get to decorate and renovate it exactly to your liking – something you don’t get with a rental. You can personalise it with your own belongings. You can also pay to have features added that you’ve always wanted such as a hot tub or underfloor heating. Companies such as Malarvilan.se can even build a custom-designed holiday home for you if you want to design somewhere from scratch. Alternatively, you may be able to buy a run-down villa for cheap and do it up to make it your own.
You can set your own rules
Many holiday home rentals have strict rules to abide by. Only a select amount of people may be able to stay and you may not be allowed pets. By having your own holiday home, you get to set the rules. You also have the freedom to stay there whenever you want. You could even make a last minute decision to visit and not have to worry about accommodation being fully booked.
You can make money out of it
A holiday home doesn’t just have to be an expense for the super rich. In fact, you may be able to make money from your holiday home by renting it out to other guests when you’re not there. Whilst you’ll still need to save up for the deposit, the mortgage can be covered by paying guests. You can use sites like Airbnb.com to manage bookings, screen guests and accept payment. Knowing someone nearby who you can hire as a property manager may be useful – they can be in charge of giving and collecting keys, attending to repairs and possibly cleaning the property afterwards (you can of course set a cleaning rule). For a holiday home to be successful as a profit-making property, you may have to make a few compromises such as storing less personal items in the home and working your personal visits around client’s stays.
It can be somewhere to retire to
A holiday home could be somewhere to eventually retire to. By buying whilst you’re still working, you can pay off the mortgage and then live your retirement there mortgage-free. It might also give you time to renovate the home to your specifications and familiarise yourself with the local area. Even after all those years you decide you’d rather live somewhere else, you always have the option to sell the home and buy a new place (or stay put and use the money as a retirement fund).