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Choosing the right holiday home

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If you’re thinking about buying a holiday property, experience of buying your primary residence will help in a way, but there’s a lot more to think about when buying a second home – especially if you plan on renting it out to holidaymakers. Here we have some advice on choosing the right holiday home from experts at


It goes without saying that a second home is a big financial commitment, and as the vast majority of those buying one will be using some form of mortgage borrowing to make the purchase, it’s important to set out your budget early. Just how much can you afford to pay every month towards a second home? It’s not just about the mortgage payments, either; there is contents and buildings insurance to consider, maintenance costs and, if you’re planning on renting out your holiday home to cover some of the cost, marketing bills.

Those who are looking to subsidise their mortgage payments through rental income should also understand that it can be difficult to get consistent bookings for your property – especially in the first few years of ownership. This can lead to gaps in income which you will have to make up in order to meet your overheads.

With any financial commitment there is a need for sound planning, but the variables involved with second home ownership make it even more important to have a viable worst-case-scenario plan in place.

Finding the right property

They say location is everything when it comes to buying property. This is true enough for second homes, but the criteria on which you judge the quality of a location changes. For a permanent residence, you’re looking at schools, local amenities and transport links – for a holiday home, the focus is more on proximity to popular tourist areas, attractions and places on interest. All these are valued by holidaymakers, and you’ll need them if you want to achieve regular rental income.

There are other practical considerations for a holiday home too; while you might want a more remote property, any secluded property which is unoccupied for long periods of time can be a target for burglars, and you might not know of any break in until you turn up at the property and find your planned short stay is ruined.

Price is also a key deciding factor: you’ll need to cover your costs, but some areas offer better value than others, and will therefore be more attractive to holidaymakers.

Obviously you’ll want to choose a property which suits your needs, but if you’re seeking rental income you should consider some of the things that holidaymakers desire: broadband access, a drying room, a fully-equipped kitchen: these are the kinds of details which can set your property apart from the rest.


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One response to “Choosing the right holiday home”

  1. Ask yourself why you’d want to buy a holiday home rather than just rent one. Are you happy to be tied to going to the same place time after time? If so be sure it’s somewhere you’re happy to do that – rent in the area a couple of times first.

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