Your holiday home purchase objectives

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Owner advice > Buy to Let Guide for your Holiday Home > Your holiday home purchase objectives

Your holiday home purchase objectives

People buying a holiday home, either in the UK or abroad, often fall into two camps -

  1. Those planning to use and enjoy the property themselves.

  2. Those seeking financial gain from their investment.

Sometimes it's a mixture of the two, but one factor will still probably carry that little bit more importance for you.

If buying a holiday home is mostly a lifestyle choice for you

  • Don't be tempted to compromise on your own needs in favour of a wiser financial investment.

  • Don't worry about how much the property will be worth in the next 10 or 20 years, and how the property market will behave.

  • Go with your heart - don't be swayed by talk of emerging markets, but think where YOU want to spend your holiday!

If your priority is to make a profit from the purchase of your holiday home

  • You don't necessarily have to put your own feelings and tastes aside - you can still make the property pay for itself.

  • Do prioritise property prices and currency fluctuation over rental yield - these factors will be much more important in your overall return.

  • Remember, renting your holiday home to holidaymakers should make you a profit and cover your mortgage payments, but it won't be the most important factor when you come to sell.

If you fall in the middle ground

  • Be sure to strike the right balance between the two factors when choosing the right holiday home for you.

  • Don't compromise on the location where you want to spend your holiday.

  • Be aware of factors such as the length of season, and access from the UK or for your target market - these will affect your rental prospects and returns.