Buying a Holiday Home as a Lifestyle Choice
Buying a holiday home isn’t just about making money. Buying a holiday home in an area you love can also count as a lifestyle choice. And it’s often a life changing one too! Such is the case with many buyers of holiday homes in Cornwall, whose decision to purchase has as much to do with their investment portfolio as with what they want out of life.
The name says it all – a holiday home is first and foremost about, well, holidays. How often have you spent a holiday somewhere and wished you owned a property there? Somewhere to call your own and return to whenever and as often as you wish.
This urge is particularly strong when it comes to an area you visit time and time again because you love it so much. If Cornwall is your favourite holiday destination and you find yourself returning to the same spot year in year out, it makes sense to think about buying a property.
Having your very own holiday home in Cornwall will inevitably reduce your holiday costs. You’ll also save time and energy on packing because you can keep your holiday essentials in the house rather than lugging them backwards and forwards. And perhaps best of all, you can visit at any time of year and discover the delights of Cornwall whenever you choose.
If you pick the right spot for your holiday home in Cornwall, not only will you enjoy holiday after holiday but you’ll reap the rewards financially when you eventually decide to sell. Holiday homes in the right locations (and Cornwall has plenty of these) sell extremely well, particularly those with proven holiday letting success. Your purchase will provide a nice little nest egg for the future.
Initial financial outlay on a holiday home can be steep so it makes sense to look into reducing the costs. One of the best ways to do this is to let your holiday home. Income from letting your holiday home will help cover your running costs and possibly provide funds for upgrades or extra facilities. If your holiday home proves popular – remember it’s all about location, location, location – letting income will provide you with some extra cash.
When you visit somewhere on holiday you often eye the place up as a possible retirement destination. Where better to spend your hard-earned rest from work than in the place where you enjoyed your best holidays?
Unsurprisingly, Cornwall features as one of the top retirement spots in the UK. Although not everyone manages to fulfil their dream and retire to the county. One way to bring that dream considerably closer is to buy a holiday home in Cornwall before retirement, make a letting income from it and then move in once you give up work. The added bonus is, of course, that you don’t have to wait to retire to holiday in the property yourself between lets.
When choosing your future retirement home, you’ll need to combine your requirements with those of holiday guests. Pick the location carefully and make sure it appeals to holidaymakers and fits in with your retirement plans too. Think as far ahead as possible – being near amenities will benefit you hugely in the future as well as making the property more attractive to guests.
Letting out your future retirement property helps you cover running costs, an important consideration when you own a second home. As your holiday home gains in popularity among guests and you build up a steady income from lets, you can extend, refurbish and/or upgrade your property with your future needs in mind.
This blog was provided by George from Cornish Traditional Cottages