by Daniel Bell
When you buy a home for yourself, your personal taste is everything. You may find certain things wrong with the property, but you might love the garden too much to let it bother you. If you’re buying a property for others to rent long-term, you have to be a bit more careful. You need to remove pleasure from business and make objective financial decisions.
So what about holiday homes? They seem to be a mix of the two. You need to make an objective business decision, but you also need your gut to be attuned to a sense of luxury. You could very well be going to stay at these locations for long periods of time. But during periods where you’re not using them, you could generate income by letting it out to other holiday goers. Thanks to the Internet, holiday renting is now very easy and very popular. Here are some great places to get yourself a holiday home, with holiday rentals also taken into account.
There are a lot of areas in the United States that make for prime holiday rental locations. If one were to make a very calculated and objective decision, urban areas like New York City might be a great place to invest. Property rental in NYC is very popular for young travellers at the moment. But do you want to spend your own time there?
Your best bet might be in Florida. Shockingly, property prices in Florida have recently been reducing by as much as 40% in popular tourist areas. Holiday homes in the Orlando area are a cheaper, more private alternative to Disney World accommodation. Don’t underestimate the pulling power of that perk!
All those images that just flooded your head? Soft beaches, fresh air, light reggae in the distance? Those aren’t just unfounded assumptions. Caribbean islands are as idyllic as they’re made out to be. And surprisingly enough, property prices — as well as the cost of living — are extremely reasonable.
Barbados offers one-bedroom apartments for as cheap as the $200,000 region. This is a perfect idea for those feeling adventurous and romantic. But a supremely underrated location is the island of Nevis. Real estate on Nevis offers some of the best values in the Caribbean. The island itself is probably the best place in the Caribbean to truly relax, to disconnect from the rush of modern life. Luxury is the keyword in Nevis. And that’s exactly what you and your possible tenants are looking for when they think of the Caribbean.
South of France
France attracts droves of British tourists, France being a mere half hour away from English shores. Since President Sarkozy dropped his proposed extra tax on owners of second homes, France has become a popular place to buy a second home.
Falling prices since 2012 are also contributing to this popularity. But most importantly is the luxurious nature of the south of France itself. An apartment in Nice is an extremely attractive prospect for retirees and for travellers looking to rent. The weather is beautiful and the language is relatively easy to pick up. It’s an amazing home away from home.