Could a holiday let be the wisest investment you’ll make this year?
In the 2011 consensus more than 165,000 people said they had
a second property that they use as a holiday home, and Patrick Chambers, Sales
Director at Quick Move Properties,
says it is a market he’s seeing vast amounts of growth in.
Patrick explains: “We’ve seen significant growth in the
number of people buying holiday properties in the last year or so. Property can be a favourable investment,
especially with the low interest rates currently being offered on savings
accounts, and people like the idea of being able to use the property for their
own holidays as well.
“Some of our customers have inherited a property and want to
invest the profits from its sale into a more manageable property, some may be
downsizing from a large family home and want to buy both a smaller residential
property and an investment property, and others are buying a holiday home
mainly for personal use, but like the idea of generating a bit of extra income
when they’re not using it.
“A large proportion of our customers are looking to invest
in a leisure home on a designated leisure or holiday park, mainly due to the
added peace of mind they get from knowing their property is going to be well
looked after when they’re not staying there, and the added services that such
parks are able to offer. On-site
facilities are a fantastic draw for both the home owners and prospective
holiday let customers, and additional services such as cleaning, property maintenance
and holiday let marketing are available on many parks, all of which make for a
low-hassle holiday let investment when your main residence may be a significant
distance away from the holiday home.”
Things to consider:
·
Facts and
figures: Find other holiday let owners in the area, or if you’re
considering purchasing a holiday home on a designated leisure or holiday park
speak to the park operators and any other holiday let owners on the site, and
gain from their experience – what sort of weekly rental figures could you be
asking? what sort of margins would you be looking at?
·
Practicalities:
How will you manage the property? Will you market the holiday let yourself?
Who will handle the change-over/cleaning of the property between lettings? If
you’re planning to buy a property on a leisure or holiday park, what sort of
additional services can the owner or manager provide?
·
Location,
location, location: Where do you want your holiday home? Where will you get
the most interest as a holiday let? Are there attractions in the local area
that would appeal to holiday makers? What’s
the surrounding area like and what facilities and amenities are close by? Are
there good transport links?
·
Part
exchange: If you have a second home, former investment property or
inherited property that you’d like to sell in order to buy a low-maintenance
holiday home, you might want to consider part exchanging your existing property
for a holiday lodge or leisure home.
You can find out more about how part exchange could take the time and
hassle out of the selling and buying process here
Quick Move Properties is the UK’s largest property part
exchange company. Established in 1998,
the company has purchased over 5,000 properties with a value of £725
million. If you’ve inherited a property
that you’d be interested in part exchanging for a holiday property, or are
looking to downsize in order to invest in a leisure or holiday home visit www.quickmoveproperties.co.uk
or call 01793 840917 to find out how Quick Move Properties could offer a quick,
risk-free and hassle-free service.
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