How To Choose the Right Location to Buy a Holiday Let Property?
If you want to buy a Holiday Let property, you would have wondered: “Which location should I choose?” Finding the answer to this question can be challenging because there are numerous factors you have to consider.
These factors will give you the insight to get the best location for your holiday home, especially if you are investing first time in a holiday let property. So, this article highlights some of the best tips, whether you are looking for the right location for holiday let investment.
Tips To Choose the Right Location To Buy a Holiday Let Property
Choosing the right location for your holiday lets property investment goes beyond aesthetics. Here are some crucial factors that will help you make the right choice:
1. Choose a Location That Is Easily Accessible
When choosing the location of your holiday let property, you must prioritize ease of access. Although some visitors might want to stay off the grid to enjoy some serenity, be willing to balance it. Do not go for a location too remote to access or get to.
Generally, accessibility is the first factor guests usually look out for in a holiday let home. The roads that lead to your property must be accessible by all types of vehicles. It is not ideal to leave your guests stranded in the middle of nowhere due to bad roads.
In addition, consider public transportation. How far is your holiday home from the nearest bus stop or train station? Is it a walking distance? Consider how guests with no cars will get to your property. Doing this will make your holiday let property open to a larger target audience.
Additionally, you need to consider parking. If you intend to buy your holiday home in a busy town, you might experience some issues with parking. This is especially true if the property doesn’t come with a driveway. There are some questions you need to find answers to. Is the street easily accessible for parking? Do you need to have a permit? Will your guests make use of a local park? If so, how much is it daily?
2. Proximity to Local Amenities is Essential
Having local amenities only a few minute’s drives away will be considered a plus for your holiday home. It is even better if they are within walking distance. A holiday home’s proximity to local amenities is a factor guests consider before making a booking. Not being close enough to these amenities can influence their decisions negatively. Therefore, if you want your guests to choose your property, it must be close to local amenities. Your guests will love and appreciate having convenience stores and supermarkets nearby, especially if they intend to stay for an extended period. Also, closeness to reputable restaurants and pubs is an added benefit. Many guests want to go out for drinks and dinner without enduring a long walk back home afterward.
3. Consider What the Location Has to Offer
The general rule of thumb regarding holiday let properties is that the more exciting and beautiful the area, the more famous it will be with guests. For example, the best places to buy a holiday home in the UK will be locations with more value and special offers than regular locations. These offers include incredible landscapes, beaches, tourist centers, and cultures.
So, to choose the right location for your holiday home, consider what your preferred location will offer tourists. Does the area have incredible natural beauty and scenery? Is it ideal for taking walks? Does the place have a rich history your guests can benefit from? These are some things you need to consider before choosing your holiday home. You should not go for a regular location if you want guests to prefer your holiday home.
4. Ensure The Location is Family Friendly
Your holiday home must appeal to many markets, including families. So you must check if the location you choose for your home is family-friendly. For instance, are there local restaurants perfect for kids? Or does the area have parks where kids can play while being observed by their parents? Are there activities and attractions for young people? These will help you to choose a family-friendly location.
Of course, you should not forget that this also includes dogs. It is becoming more popular for holiday properties to house dogs, especially those in the countryside. Hence, it would be best if you also considered that your property’s location is friendly to dogs. Other factors include dog-friendly cafes, pubs, and walks.
5. Be Aware of Every Legal Restriction
It’s crucial to check for every legal restriction that might prevent or limit holiday homes before choosing the correct location. Every state has its rules and regulations, some have holiday let tax relief and some don’t. And these rules and regulations differ from each other. So, it would help if you familiarize yourself with the legal restrictions in the location you choose for your holiday let.
For example, Saint Ives, a tourist town in the UK, has placed some restrictions on holiday homes. You can only buy new properties to use entirely as a residence. Another prime example is London, where you only rent your holiday homes for 90 days on Airbnb. This means you cannot rent your holiday home for more than ninety days annually.
It’s also possible that these restrictions are placed by the local planning authorities. So, ensure you research and ask around before choosing the location for your holiday home. Doing this will save you a lot of stress, money, and resources.
Final Thoughts
Choosing a holiday home can be challenging, but with the essential factors you have explored in this article, you have got an easy ride! If you follow the information in this article, you will have no problem choosing the right location for your holiday let property!
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