Help with Buying a Holiday Home: What to Consider?

Property Insights
August 31, 2023

Owning a holiday home, whether a breezy seaside retreat in Cornwall or a cosy ski chalet in the Swiss Alps, is a dream for many. But turning that dream into reality requires thoughtful planning. Here's everything you must consider when buying your slice of paradise.

Purpose of Purchase

Personal Use: Will the property primarily serve as a holiday getaway for you and your family?

Investment: Are you looking to earn rental income? If so, consider the property's potential for short-term holiday lets or long-term leases.

Hybrid: Many owners use their properties for personal vacations and rent them out when they're not in use. Determine the balance that works for you.

Location, Location, Location

Accessibility: How easy is it to travel to your holiday home? Consider proximity to airports, train stations, and major roads.

Amenities: Proximity to local shops, restaurants, medical facilities, and other essential services can significantly impact your stay.

Tourist Attractions: For investment properties, being near major tourist spots can boost rental income.

Future Development: Research any planned developments in the area that could affect property values or your enjoyment of the property.

Financial Considerations

Budget: Beyond the purchase price, consider stamp duty, taxes, legal fees, and potential renovation costs.

Mortgage & Financing: If you're taking out a mortgage, research the best options for holiday homes, as these can differ from standard residential mortgages.

Ongoing Costs: Maintenance, insurance, and local taxes can add up. Ensure you have a clear understanding of these expenses.

Rental Income: If you plan to rent, get a realistic estimate of potential income. Remember to account for seasonal variations.

Legal and Tax Implications

Ownership Regulations: Some countries have restrictions on foreign property ownership. Make sure you're familiar with the local laws.

Tax: Understand local tax implications, both for property ownership and any rental income you might earn.

Estate Planning: Consider the inheritance laws in the country where you're purchasing. This can affect your estate planning.

Local Culture and Customs

Immerse yourself in local customs and traditions. This enriches your holiday experience but can also help when negotiating with sellers or understanding local business practices.

Property Management

If you plan to rent out your property or simply won't be there all the time, consider hiring a property management company. They can handle everything from maintenance to renting out your home.

Due Diligence

Inspection: Always get a professional property inspection. This can uncover potential issues that affect your decision to buy.

Legal Checks: Ensure there are no disputes related to the property. A local solicitor can assist in checking land titles and ensuring the sale is above board.

Neighbourhood: Spend some time in the area at different times of the day and week. This will give you a feel for what it's like to live there.


Secure adequate property insurance to protect your investment. This should cover any potential damages, especially if you're in a location prone to natural disasters.

Plan for the Long-Term

A holiday home is a significant investment. Think about its potential value over time and whether it's a place you'll want to return to year after year.

While buying a holiday home can be a thrilling journey, it's essential to approach the process with due diligence and comprehensive research.

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