Thinking of buying a holiday home? It’s a big decision, but one that can return many happy memories for the rest of your life. With any property purchase, there are several factors to consider. Below we explore some of the most important to help inform your decision-making.
Cost and commitment
A significant factor when buying property is cost. It’s a serious financial commitment when you take into account the purchase price, maintenance costs, stamp duty and other associated fees.
Property prices around the UK, particularly in holiday hotspots, are extremely inflated with demand. So, if you’re planning on buying domestically, you may have to spend a fair chunk for the best spots. Beauty can be found anywhere though, so you may be able to find a gem in a more affordable area if you know where to look.
Overseas, property prices are certainly more affordable in general. Again, hotspots will be more costly because of higher demand, but less competitive property markets overall mean you can find a bargain in a stunning location. You may find it harder to sell your holiday home abroad if you try to, but that may not be on your mind at all.
Are you more comfortable staying in the UK? Or do you enjoy immersing yourself in different cultures? This is an important factor to consider because it determines your holiday experience and level of enjoyment greatly.
You’ll know what you’re getting with a property in this country. Whether you’re looking for holiday lodges for sale or a seaside apartment, the culture, landscapes and people should all be familiar to you. If you find a spot you love, the sense of familiarity is often a large driving force behind buying a second property in the UK.
But you can also find a spot you love overseas. Whether you dream of having a property in your favourite holiday destination or you can’t wait to explore somewhere new, new sights and sounds abroad can give you a much-needed break from your usual routine.
The Great British weather is notoriously unpredictable and can put a real dampener on a holiday, especially in summer. However, there are glorious periods where the UK does truly feel like somewhere in mainland Europe. If you’re not fussed about the weather, there are plenty of stunning locations around the country that guarantee a lot more, like the Isle of Skye, for example.
Choosing to buy overseas is a good way to ensure you get your fair share of sun. Parts of southern Europe enjoy a favourable climate for more than half the year, while countries around the world can give you the option all year round. How much of a priority is the climate on your list?
The location of your holiday home has a big role to play in terms of how often and easily you can enjoy it. A property in the UK is likely to be much more accessible and convenient for those last-minute weekend getaways and you could make more of your money over the year.
Venturing abroad is a lot less convenient and makes you more dependent on flights or other forms of transport. This is likely to reduce the number of times you go each year, but potentially increase the duration of your stays. It’s worth considering how likely you are to use a holiday home before deciding where to buy.