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Buying a holiday home is very similar to buying a conventional home, with some unique differences.

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While some of it comes down to personal preference and the sort of place that you’ll want to spend your time away, you’ll also need to consider the economic side of things, and making sure you’re going to choose an area where others are likely to want to visit and rent the property off you.

Here we’ve taken a look at five tips that you should bear in mind when looking to purchase a holiday home of your own.

Consider local amenities

While a holiday home is a great way to get away from it all, it’s still important to make sure that yours is located within close distance of some general amenities.

For example, make sure that there’s a local shop where you and your guests will be able to buy basic groceries and toiletries, as well as restaurants, bars and pubs.

If your holiday home is more rural (like many are), see if there are lots of public footpaths nearby, and make sure that you’ll be able to get the property hooked up with Wi-Fi, as this is an absolute necessity nowadays.

Weigh up the competition

While it might seem straightforward to choose a holiday home in a location with high demand, make sure that you’re not going to be surrounded by too many competitors.

Consider what your property will be able to offer that similar ones in the area won’t be able to.

Sometimes properties which are a little off the beaten track can prove to be much more profitable, as people want something a little less touristy.

Areas such as small fishing villages or remote country locations are perfect for this, and your property will stand out a lot more with fewer competitors.

Quirky/additional features

While you can, of course, make changes to make a property your own once you purchase it, you should also be on the lookout for any quirky or additional features when you’re initially making a purchase.

For example, does the property have a sea view, an enclosed courtyard or garden, or perhaps even a swimming pool or hot tub?

All of these sorts of features are not only great for yourself as the owner but will attract more guests who will be willing to pay higher rental fees!

Check out this post from the Rated People Blog for more tips on what sort of things can add value to your holiday home.

Do your own research

There’s no better way to find out if an area is right for you than to get out and about and actually talk to people.

If you live nearby the place you’re going to be buying your holiday home or are able to visit, make sure to get out and about and speak to local business owners such as shopkeepers, pub owners and other locals.

It’s important to get an idea of what the local area is like not just during the peak summer months but also when things are a little bit quieter.

If you love it, so will they

It can be easy to get caught up thinking about what prospective guests will want from a holiday home, but it’s really important to remember that it belongs to you, and you should make sure that it’s somewhere that you’ll want to spend time yourself!

We spoke to holiday park specialists, Pure Leisure who told us: “While holiday homes can be a great way to make some extra cash, they’re also a valuable spot to get away to during school holidays, bank holidays, and perhaps just for the odd weekend.

“This means that any potential holiday home needs to cater to your needs just as much as it does to any prospective guests.”

Similarly, Justin Allitt of Sell My Group, specialists in holiday homes, lodges and caravans, outlines that, “The location of your holiday home is perhaps one of the most important things to get right. Whilst it’s nice to have a brand new lodge, as an example, if you need to choose between a pre-owned holiday home in the best location or a new holiday home in a less-than-ideal location, your best bet is to go with location! You can find ways to improve physical aspects of a holiday home and, as such, should always focus on the location.”

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For some more inspiration on exactly where to buy a holiday home, check out this article from This Is Money which highlights some of the most lucrative and profitable regions in the UK.

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