Where to Buy an International Holiday Home
So you find yourself in a position of owning your own home, with a little spare money and dreaming of a holiday home? What a wonderful position that is, congratulations. Where you decide to buy your holiday home will decide a lot of things for you and your family to come. For starters, many memories will be made in this special location, perhaps stretching over generations, so it’s important that you consider carefully where you want this to be. Will you rent the holiday home out? Will you bring on other family members to invest in this grand purchase? How much time do you plan to spend here each year? These are all important questions you’ll have to ask yourself, but there’s none more important than where to buy your international holiday home.
How Big Do You Want To Go?
Chances are, budget is something you’ll have to keep in mind so you’ll want to first decide on how big you want the house to be – in terms of how much land, how many bedrooms, bathrooms and so on. Bare in mind that upkeep might be a challenge if you’re not living nearby. You might have to pay someone to maintain the home for you, or at least the grounds, so be aware of these costs before you start getting too invested in any one property.
Do You Expect a Return?
Many people choose to rent out there holiday homes while they’re not there and that can be a great option, especially if find yourself requiring a mortgage for your new international holiday home. You’ll want to compare the cost of the home vs the weekly rental return that is realistic, as this will allow you to estimate the costs of your purchase and any potential returns.
Where offers the best returns? Well this is going to depend on where you’re interested, but we have this helpful infographic from Schofields on where to buy your international holiday home.
Check out the infographic below for more helpful suggestions of where and what to expect.