We all like to take a vacation now and then. The stress of a modern, daily schedule can wear us down, especially if our lives are mainly located in a busy city. If you’re living in a huge city like London or New York, you’re familiar with this feeling. Even the most enlightened Zen Buddhist disciple would have a hard time living in these massively built up environments without feeling the smallest indication of stress.
It can be great to get away with it all, and for good reason. Holidaying has scientifically proven benefits for positive mental states, lowering of stress levels, and plainly giving you time to invest in activities that make you feel alive. The activity that helps someone achieve that feeling will vary from person to person, but there’s no doubt that pursuing it will be healthy.
If you find yourself visiting a certain location or country time and time again, there’s a very real chance that investing in a holiday home is for you. You might not have considered it before because you might have been put off by the first cash investment you need to make, but doing so can actually be a very wise and cost-effective solution to make the most out of the holiday destination you love so much.
But for what reasons specifically should you invest in real estate in your chosen country? Well, this list aims to inform you why.
Peace of Mind
Having a place to aim your main holidays toward will give you peace of mind in almost innumerable ways. You’ll never have to worry about the quality of the hotel you’re arriving at. You’ll never have to worry about being ripped off by an accommodation package that’s not worth it. You’ll never have to worry about the difficulty of securing a last-minute hotel booking. Your holiday home will always be available, free to stay in for extended visits, and secure.
Having a quality accommodation abroad will also allow you to settle in your culture easier. You go from being a curious tourist to a relaxed resident. This will also give you a reason to meet the locals and even entertain them at your property, and this can be a relaxing experience in itself. If you know people in the location you’re living, you’re much more likely to feel relaxed and like you belong there.
Taking on a last-minute resort booking can be great, but if you’re trying to cut costs, you might not end up staying in a place that’s reputable. It’s not uncommon to hear of robberies or thefts taking place in discount accommodations. If you have your own home, you can invest in your own security that gives you the best feeling of safety where your family is concerned. CCTV cameras, combi-locks, and adequate fencing can also protect your investment when you’re away.
You might initially be hesitant to purchase a holiday home because you can’t see yourself using it enough. What if you want to go on holiday somewhere else one year? Surely you’re more likely to feel trapped in the holiday home because vacationing there becomes a default option in order to make the most of your money? This isn’t the case.
Using popular renting websites that allow you to let out your property when you’re not there can help you clock up potential earnings when you don’t have the freedom to visit yourself. Provided you’re renting responsibly and ethically, and providing a home to your renters that gives them a quality stay, you might be able to charge competitive rates, and pay off the sum of your initial investment even more. Who knows, if you don’t feel like visiting that location one year, you could use these rental profits to provide an even more amazing vacation in a new locale!
If you purchase your home in a sought after and developing location, there’s a chance that over the coming years and decades your property will increase in value. If you choose to sell this later in life or allow your children to inherit it, whoever sells it will surely benefit from a greatly strengthened selling cost. That’s never a bad result.
A Solid Cash Asset
Tying up cash in real estate is one of the most secure ways to fix a cash investment as an asset. If you invest $150,000 in your holiday home, you might acquire valuation increase at a greater rate than you would by relying on the bank interest to accumulate profit. It’s definitely something to consider.
If you have a particular purpose for visiting your chosen location, you might be able to use this holiday home as a secure launching pad for all of your niche holiday interests. For example, if you’re interested in surfing, you might be able to run a surfing school business from the home and store all of your resources and business plans in this home. It surely makes more sense than operating it all from an office while renting a hotel. You’ll have more freedom this way. Of course, if you choose to do something similar, be sure to register the property with the correct form of business insurance.
Entertaining guests abroad is now a possibility! It’s surely a status symbol to have property abroad, but if you don’t care about such shows of wealth and prestige, you’re still likely to find happiness in inviting your child’s friend on holiday with your family. As mentioned before, once you become friendly with the locals, inviting them for a dinner party will allow you to get the low-down on the happenings of your chosen area, and become an integral and respected part of the community. What better way is there of honoring your loved destination?
Future Family Uses
If you’re purchasing this for family considerations, there’s a likelihood that you’re going to keep the property in your family for some time to come. As your children become more independent and begin to take their first tentative steps toward embarking on holidays themselves, what better place for them to do it than the family holiday home? Here they will be familiar with the location, the locals, the entertainment spots as well as how to navigate back to the house if they’re in trouble.
Keeping a family asset like this will not only prove fruitful for you while you use it but for your children too.
Once you purchase your holiday home, you’ll have somewhere special to retire to when your working life comes to a close. When you do, the years you’ll have put in maintaining, letting and extending the property will leave you with both a nest egg of funding and a beautiful property to relax in. What better way is there of making your holiday home your permanent home? By this point, you’ll likely be a dual citizen of the country you’ve purchased it in. What a beautiful way to celebrate the family time you’ve spent there.
Purchasing a holiday home is an exciting, responsibility-laden and ultimately beneficial endeavor for you and your family. Just be sure to scrutinize the contracts you sign and cover yourself with legal duties and insurance coverage.
You can be sure that with the right planning and the most thorough viewing of many properties in your chosen area will allow you to pick the home of your dreams, and maybe for even less than you expect. Dependent on the location you choose, and the country from which you currently reside, your currency might have a stronger purchasing power than you think.
You’ll never know if you don’t try!