Before you buy a holiday home it might be wise to recall the saying “It doesn’t matter how rich you are, you can only sleep in one bed a night”.
If you are planning to buy a vacation house where you can relax on a weekend or during holidays, several tips and things should be taken in mind to maximize that Sun Properties Phuket you have bought. Try pondering these tips.
- If you buy a coastal property consider buying a small tender or boat to use to get to local beaches as roads get very congested in high summer and you can save yourself time. Having a villa in front of a beach and a boat will surely be perfect for island hopping also.
- Access to employment is the priority for most owner occupiers but enjoyment may be more important for a holiday home.
Somewhere with access to things to do is likely to be more valuable and saleable. Access to the beach, sailing, golf, a tennis club, culture, field sports and walking is a good one.
Proximity to schools and employment hubs may not be essential for your regional retreat, but you’ll probably want access to some amenities. A petrol station or local shop where you can pick up the basics would be useful. Is it really absolute seclusion you crave, or would you rather have cafés and restaurants nearby?
If you plan to retire to the property in the future, consider distances to hospitals, shops and a local community.
Consider how easy is it to get to the area you’ve selected. You’ll want to be close to highways and maybe airports – but not too close. Much more than two hours’ travel from home might make you think twice about that weekend getaway.
- Less time to spend on maintenance and general upkeep. So, for example, a property with a patio or paved courtyard might prove more practical than one with a large garden, which could become a wilderness if you skip a weekend or two in the spring or summer.
- Common courtesies may have died out in the capital but remain a good idea – if not compulsory – in the country. Engage with the locals, buy produce at the corner shop and drive slowly through the village. When they pull into the ditch to let your shiny car pass, do not look the other way but raise your hand to thank them.
- Unlike a regular house, buying a holiday home means a high initial outlay, as you’ll need a 20% deposit if you want to avoid expensive mortgage insurance.
And in order to claim interest on your loan as a tax deduction, you’ll need to rent it out for part of the year. This does help pay off the mortgage, but popular holiday periods are when you’ll make the most cash. So if you need to make money be prepared to take your holidays off peak.
- Finally, don’t skimp on your preparation before purchase. It’s a good idea to rent before you buy – not least so that you can observe an unfamiliar area during different seasons. Fabulous sea views in summer may seem more like a desolate wind tunnel in winter.
With summer on the horizon, you may be dreaming of a few lazy days at the beach or escaping to a country cottage. Perhaps you’re considering buying your own piece of paradise at Sun Properties Phuket. Having these tips in mind will make your holiday vacation getting better each year.