Are you considering buying a holiday home? Purchasing a holiday home gives you a place to escape everyday life and enjoy some time relaxing, but it can also be a wise investment. Increasingly, savvy buyers are turning holiday homes into rental income as well as personal retreats. As the pandemic turned staycations into a trend, buying a holiday home in the UK began to rise in popularity, and the market is still hot for this kind of property. However, as travel has opened back up, buying a holiday home abroad has also become a hot trend. Which is best? Here, we discuss the pros and cons of a holiday home abroad vs a UK holiday home.
First, let’s tackle the elephant in the room: Brexit. In the course of leaving the EU, the UK also left the European Economic Area (EEA), which means the UK is no longer included in the EU single market. This means that UK owners of property in the EU no longer have certain perks, like tax breaks. That makes buying a holiday home in the UK less complicated than owning property abroad. What’s more, since Brexit the value of pound sterling has gone down, which is a plus for the UK tourism economy because it encourages people who live in the UK to have a staycation, and it also makes the UK an affordable destination for those visiting from overseas.
Another benefit of owning a UK holiday home is that it is easy to travel to your property. You can simply travel by car any time you want to enjoy it or when you need to do maintenance. You will not have to book a flight, go through airport security, worry abut flight delays, or any of the other hassles of traveling abroad. Further, when you buy a holiday home in the UK, you will not be caught unaware by hidden costs and charges that are customary in another country but not something you have experienced at home. You are also less likely to face a language barrier when you purchase a property in the UK.
Getting a mortgage in the UK can be easier than buying in Europe, too. While France, Ireland, Italy, Portugal, Malta, Greece, Cyprus, Turkey, and Spain all have stunning locations, it can be complicated to purchase a home there if you are not an EU citizen. Extra steps may include undergoing an additional approval process, or placing a larger deposit than you would need to if you were purchasing in Britain. It is important to talk to a professional before you start looking for a property in the EU so that you will know what you are getting into, while buying in the UK is fairly straightforward.
Of course, there are pros and cons to every situation, and this certainly holds true when you are shopping for a vacation home. In the UK, you might run up against expensive properties, while in Europe, you can often get beautiful properties for much less money. For instance, buying in the south of France can save you 50 percent as compared to purchasing a similar UK property, and this holds true for some of the more rural areas of Italy, as well.
To be honest, while the UK is beautiful and the weather can be spectacular, it is also notorious for being unpredictable. While you might not mind buying a holiday home somewhere that the weather is unreliable, weather conditions are something you need to carefully consider if you are buying a property to let. Bad weather can diminish your guests’ experience not just of your property but also of the area, and this can make them reluctant to return. Overseas, there are many locations where the weather is much more predictably pleasant, and places with warmer temperatures and less rainfall can tempt travellers away from less enjoyable climes.
Then too, part of the appeal of buying a holiday home is getting to enjoy somewhere completely different than what you are used to at home. It is more than just a change of scenery, it is about immersing yourself in a different culture, trying new foods and experiences, and finding a place you truly love to visit. Buying a holiday home abroad is more than just a source of rental income, it is an adventure every time you stay there.
Shopping overseas, you have a nearly endless variety of options. It may surprise you to realize, though, that you also have a wide range of choices in UK properties. There are so many Areas of Outstanding Beauty in the UK, and so much rich culture and history to enjoy. The Cotswolds, the Lake District, Yorkshire, Pembrokeshire and the Peak District, Brighton, Cornwall, Dorset, and so many other places are popular for all the natural wonders and homey amenities available to enjoy. You can choose to buy in a seaside town, near a national park, in close proximity to London, or somewhere wild and untamed; the possibilities are quite broad. Consider where you would like to spend your time, and how you would like to use your property, in addition to thinking about how eager others will be to rent it. If you plan to go frequently, using your holiday home as a weekend retreat, take into consideration the travel time when you are choosing the perfect place to buy.
Once you have purchased a holiday home, letting it can be daunting. However, if you choose the right company to partner with, you will find that the process can be easy and profitable. At Together Travel, we share your passion for finding the perfect hideaway, and we want to fully understand your objectives for your property so that we can help you realize your goals. We have over fifteen years of experience owning and operating holiday homes, and we understand the latest trends and technology, so our in-house marketing and revenue experts can promote your property across a variety of optimised platforms. Our experience, along with our dynamic pricing model, innovative marketing campaigns, and personal concierge service make Together Travel the top choice for booking a luxury staycation in the UK. Let us help you choose and let your holiday home, putting our proven practices to work for you, to make it a successful venture from start to finish. If you are shopping for property in the UK, we have an extensive portfolio of holiday homes available to purchase, and you will see that as the exclusive agent and operator for Natural Land holiday homes, we have access to exceptional holiday homes in areas of great natural beauty, built sustainably and to modern standards, yet designed to complement the surrounding landscape.
If you have decided to invest in property in the UK as a holiday home to let, Together Travel can help you get started, as well as handling all the details to make it simple. If you are looking for an exquisite place to visit, Together Travel can help with that, too. All across the UK, we have luxurious, comfortable, unique properties located wherever you want to be. Find out how we can make your trip amazing by contacting our expert concierge team at +44(0)1625 416430 or emailing us for more information.