Anna Fern of Blue Lagoon Holiday Cottages highlights some of the considerations for anyone considering a holiday home purchase.

Making the right decision

Now is the perfect time to buy a holiday property, as the housing market remains static there is a greater opportunity of finding a bargain. But beware, making the wrong choice just for the sake of a great deal could spoil your chances of making money from your new holiday home. Its essential that your careful making decisions, as having a property with the right ingredients and mix of features will help to secure a profitable business.

Location, Location, Location

The location you decide on is the key to success and choosing a popular destination such as The Lake District, The Cotswolds, Devon or Cornwall will certainly bring in the bookings. However, the price tag in any of these locations will be much higher, so you might want to choose a secondary location, like The Peak District, or even parts of Yorkshire and Northumberland. The first property I bought was in Derbyshire, just outside the main Peak District area and although it was not my first choice of locations, the property prices were lower, so I could get more for my money. I bought a two bedroomed cottage with a spacious downstairs area and a grand dining room which gave it the unique and wow factor. So its a careful balance of getting the right location which you can afford and the extra features within the property.

Know your Market

Finding a property with the right features is very important and many people make the mistake of not considering their market before they start the search. You need to decide who you’re going to attract. If you’re going to target couples, you may need to consider a peaceful and quiet location and a more luxury feel to the property.  But if you’re going to attract the family market, look for a property with a bigger garden and off road parking for two cars or an extra living room for the kids.

The five key success features

If I had to list just five essential elements you should look for when buying a holiday property, they would be:

• A location near to key tourist destinations and attractions.
• A room with a view will sell your property ten times quicker than a house with no view, but be warned a sea view for instance can cost you another 50 thousand pounds.
• Well heated house with modern central heating system and a log burner is a must for securing winter bookings.
• A garden or pleasant sitting out area for the summer, as everyone wants to enjoy alfresco dining.
• Modern kitchens and bathrooms and where possible en-suites bathrooms and for properties bigger than two bedrooms, at least two bathrooms.

Whether you buy a property which is already modernized and fitted with all the important features or you see potential in a property and renovate it, the most important factor is to ‘fall in love with it’.

Anna Fern, Blue Lagoon Holiday Cottage - Bespoke holiday letting agency with a hands on experience to guide you through the process.

Tel. 07714 230117
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Web. www.bluelagoon.co.uk