Invest in a Holiday home property in Britain — Fact File
There are now more and more people choosing to holiday in the UK and they don't want to stay in B&Bs, guesthouses or hotels. They want to go self catering and because the weather can never be relied on camping is out of the question. What is the answer? — self catering holiday accommodation.
Self catering holiday homes in Britain have a lot to offer a property investor compared to those abroad. Although in 2005 property value in the UK has not risen much and domestic rentals are still not too buoyant, weekly rentals are generally very good. You are not tied up with "tenants" all the time if you don't want to be and the owner can stay there from time to time.
As people are taking more holidays in Britain, house price in holiday areas have been doing well. The west country has the highest property surge over the past ten years with Truro in Cornwall coming top with a 272% rise.
Over the past five years other parts of Britain have seen a rise as well, like Blackpool in the north west of England. If prices don't rise (and remember your property is only actually worth the amount stated when you physically sell it) then naturally if you are buying, buy in an area that is popular with holidaymakers. You need adequate living, sleeping and washing space for the type of people you will want to rent out to. Kitchens need to be well equipped always with a washing machine, fridge freezer and if possible a dishwasher. Your renters are on holiday and they won't want to spend a week or two washing up!
You should consider gardens as well, depending your market either one just to sit in, have a few barbecues or a slightly larger one if you are encouraging families. Don't forget, however they have to be maintained and the visitors will not be doing this for you!
If you are borrowing money for this business, remember that you cannot expect a 100% occupancy. Allow for void periods — heating in the winter when it is empty and ongoing maintenance and cleaning before the new visitors arrive. We have prepared some tips for Holiday home CLICK HERE that should help. We also have another useful page on our English Cottage Rental / jml Property Services site on presenting a property CLICK HERE — this covers holiday lets and longer term rentals, but the basics still apply.
Finally you must market the property — There are many ways — Local tourist office — advertising in local, daily and Sunday newspaper, travel magazines, building your own website and you will find the majority of these are expensive. One website that is excellent value just £11.75 per year including VAT is our associated self catering site. jmlvillas.com. For more information click here
Good luck running your own self catering holiday home businessN.B. This information should not be relied on for accuracy and is presented here without the responsibility of jml Property Service and the website it is being displayed at. ©jml property Services 08-05
Looking for Holiday homes insurance in the UK Here CLICK HERE
Holiday Home Property Insurance for France, Spain, Portugal, Greece, Italy, Ireland, Germany, Belgium, Holland, Denmark, Sweden, Malta, Cyprus, England, Scotland and Wales — visit our Holday Home Insurance section.
FURTHER READING See also
Buy to let — UK CLICK HERE
Buy to Let Europe CLICK HERE
Yorkshire Dales Park Authority CLICK HERE
Electrical Regulations in England and WalesCLICK HERE
UK Government plans to get more onto the property ladder CLICK HERE
Residential Property jargon in the UK CLICK HERE
The Role of a Solicitor when you are buying and selling in the UK CLICK HERE
Check list for moving in the UK CLICK HERE
Building Terms jargon in the UK CLICK HERE