Owning a holiday let can be very rewarding. Not only can you provide holidaymakers with a unique and enjoyable staycation experience, but you also have the potential to generate significant extra income. Whether you choose to invest in a holiday home that’s perfect for romantic weekend getaways or large group holidays, with careful planning and management you can create a profitable business that provides you with a long-term source of income.
Whenever you’re planning to buy a holiday let, there are several things to consider to help you ensure you’re investing in the right property. Any type of property can make a great holiday home, from cosy cottages and converted barns to modern new-builds and apartments, but lots of factors will impact whether it’s a successful holiday let. Below we have listed some key things to consider when you’re choosing a new holiday let.
Location, Location, Location
Arguably, one of the most important things to consider when you’re buying a holiday let is location. The location of the property will have a direct impact on how much interest you get from holidaymakers and how busy your diary is. You need to make sure that the property is located in an area that is attractive to holidaymakers and is close to a range of amenities such as shops, restaurants and tourist attractions. There are so many great holiday destinations in the UK so carefully consider every location from the coast to the countryside.
Different destinations are popular for different types of holidays. For example, some locations are better suited to relaxing couples’ getaways whereas others are popular for family-friendly trips. Once you have decided on a location, make sure you’re choosing a holiday let that is the right size for your target audience. You need to ensure the property is large enough to accommodate the number of guests you plan to host, so look for a property with enough bedrooms and bathrooms as well as suitably-sized living areas.
Up-Front and Ongoing Cost
Although a holiday let is an investment that will make you money, there are several up-front and ongoing costs that you need to consider. In addition to ensuring you’re looking at properties that are within your budget, you also need to think about things such as maintenance and cleaning costs. It’s essential to keep the holiday let in good condition if you want to attract lots of guests and receive positive reviews about their stay.
It’s beneficial to think about how much you’re going to have to charge per night to make a profit before you buy a holiday let too. Doing some calculations before you put an offer in on a property can prevent you from having to charge a nightly price that is off-putting for guests.
Interior Design and Furnishings
When you’re searching for a holiday let, it’s worth considering how much work the property will need to make it desirable to holidaymakers. Every pound you spend doing the property up is another pound you need to make back with bookings before you start making a profit. Try to find a property that you can easily transform into a beautiful holiday home. It’s useful to consider how you will furnish the space too and what you need to include to ensure your guests have all the home comforts they need when staying at your holiday let.
A key part of owning a holiday home is managing bookings. Thankfully, there are websites, like The Holiday Cottage Collection, that make it easy for you to advertise your holiday let and fill your diary. Yet you also need to consider the practicality of managing bookings. Think about how far away a property is from where you live and whether you will be able to greet guests or if you will need to arrange a way for them to get the keys. Similarly, will you be able to maintain the property yourself or will you need to hire an external company?
Investing in Holiday Lets in the Cotswolds, Kent, Sussex or Other UK Locations
If you want to buy a holiday let, hopefully the information above will help you to choose the perfect property to transform into a profitable holiday home. Whether you want to buy a holiday let in the Cotswolds, Kent, Sussex or another popular holiday destination in the UK, The Holiday Cottage Collection is the perfect website to list your new holiday home on and we can help you to maximise the return on your investment.
At The Holiday Cottage Collection, we also offer a consultancy service and we can provide you with the advice and guidance you need to ensure your new holiday let is a success. With years of experience in the travel industry, we know exactly what works and what doesn’t when it comes to self-catering holiday cottages. We will work collaboratively with you to help make owning a holiday home lots of fun.