Some people consider buying a holiday home in other countries, but the truth is you can buy a great holiday home right here in the UK. There’s so much to explore in this country, and it’s right on our doorstep. You could take a city break somewhere like London or York, a seaside break to Cornwall or Wales, or you could even make your way over to the lake district. In this guide we’re going to tell you how to buy the perfect holiday home in the UK, so you can enjoy all of the benefits, like more freedom and cheaper holidays.
There’s no right or wrong place to buy in the UK, you simply need to workout what you need from your holiday and take it from there. If you’re buying it for your own use, would you rather use it for weekends away, or take longer breaks? Perhaps you want your holiday home as a place to go for the weekend. If that’s the case you’ll need to make sure it isn’t too far away – you aren’t going to want to drive for 2 hours to your second home every weekend, no matter how much you love it. If you plan to use the home as a place to take longer holidays, then the distance shouldn’t be too much of a problem. If you plan on renting your holiday home out while you aren’t using it, there a few things to consider first. Potential earnings can vary from season to season, but holiday homes in cities aren’t usually effected in this way. You should get to know your potential customers, who likes to travel to the area you’re buying in, and whether there is a high demand for a property like yours there. So to buy the perfect holiday home you need to figure out exactly what you’d like to do with it, where you’d be happy taking regular breaks, and the kind of amenities you want in the area.
You can enjoy tax benefits from a second home if you choose to rent it out, so it’s worth looking at this with your serious head on! Selling your property could mean that you benefit from capital gains tax relief, business asset roll over relief and entrepreneur’s relief. You do need to meet certain terms and regulations though, like how many days a year you rent the property out for.
Buying a holiday home somewhere tourists regularly visit can be a problem in some cases. Parking could turn out to be an issue, depending on where you decide to buy, as all of the spaces could be taken up by tourists. You may also find that the time it takes to travel from A – B doubles because of the amount of people in the area. Would that bother you?
The kind of holiday home you choose totally depends on your own individual wants and needs. Whether you purchase a little cottage in the countryside or a caravan on an entertainment park is your choice – just make sure it’s exactly what you’re after!