Holiday Homes
Holiday homes are a serious, year-round investment.Many people are turning their annual countryside/seaside break into a serious, year-round investment by buying a property and renting it out to others. More than a million English households are now registered as owning a second home and often, it is a case of choosing between a second home or the fluctuating fortunes of the stock market.
"There's a great synergy between tourism and property," comments Peter Cornwell, of Marsdens Cottage Holidays. “Around 45% of our current owners purchased their property after holidaying with us, and at least half of all visitors enquire at some point about the profitability of holiday homes.”
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Capital appreciation and free use of the place during non-rental periods make holiday cottages an enjoyable investment. Now is a great time to buy as second-homeowners can take advantage of the slowing property market to negotiate lower sales prices and better deals with lenders, as competition in the mortgage market intensifies.”
Most holiday cottage companies will view a property with the purchasers (or in some cases on their behalf), advise on a property’s potential and on any alterations needed and provide income projections in its present condition – and also after improvements have been made.
For example, Marsdens will also give advice to existing holiday home owners, particularly if they have struggled marketing a property previously. Customer expectations are continually increasing. Many items that were considered luxury a few years ago (dishwashers, DVD players etc.) are now expected as standard, and companies such as Marsdens can advise owners on what changes are needed in order to maximise the rental potential of their property.
Don't forget that managing a holiday home involves repairs, passing keys to tenants, changing linen at weekends, grass-cutting, advertising and dealing with emergencies such as visitors locked out or requiring medical help. Marsdens will take care of all this.
For further information, or a copy of the 2007 Prospective Owner’s Handbook, call Marsdens Cottage Holidays or visit their website – which gives the latest availability of every property.
October 2006 |
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