How to make the most of your overseas holiday home
If you’re looking at purchasing a property abroad, there’s a lot to consider. And once you’ve bought a property, how do you really make the most of it? We’ve listed a few things you can do to maximise your holiday home’s potential.
Consider renting it out
If you have months at a time where you’re not using your holiday home, why not rent it out to cover the running costs? Renting out your home means that everything is being used and continues working, and you won’t have to rent it out too often to help with your upkeep either. Find a good housekeeper who can clean the place in the morning and change beds when you have people staying, while also being able to keep an eye on the place for you. If you’ve got a pool, make sure you have a reliable maintenance person who can keep it looking in top condition for you and your guests.
Make your home as appealing as possible – if it’s in a sunny location make sure there are sunbeds outside, perhaps invest in an outdoor table and chairs for alfresco dining, and consider adding Wi-Fi for guests. Not only do these features make your property more attractive to those looking to rent, but it makes it more enjoyable for you when you’re there too.
Have something to look forward to
The idea of a holiday home can be appealing as an easy escape somewhere different where you can leave all the stresses of work and daily life behind. This can be one of the best reasons to purchase a property abroad, but make sure you make time for it. Plan a few trips in each year, book flights earlier, so they’re cheaper, and make sure you’ve got it in the diary to look forward to.
Insure your property
When you’re not there, you need to know that both your property and contents are covered by insurance. This way you can relax should anything unexpected happen. Sometimes getting insurance on a holiday home abroad can be more difficult as they tend to spend long periods of time empty. However, some second home insurance providers will cover you no matter how long your house is left alone.
Get involved with the community
Sometimes spending time abroad can feel quite isolating, especially if you’re not fluent in the language. Try and get involved with the local community, make friends with some of the other holiday home owners, learn the language so you can talk with the locals, and make sure you try and immerse yourself in the lifestyle, so you feel you’ve had a break away. When you know you’ll be spending time with friends, it’ll make each trip more appealing too.
Test it out
While easier holidays abroad are a great incentive to buy a property, you can also begin to think ahead. When you retire, you might want to spend extended periods abroad or move permanently. This can be a great way to test the waters if you’ve ever considered becoming an expat. Take some longer vacations and see how you feel before you commit to something long-term. Additionally, if you have kids, letting them holiday in your overseas property can be a good way of giving them some independence and allowing them to test out living alone, even if it’s just a week or so at a time.
If you’re considering an overseas property purchase and you want to discuss your money transfer with a currency specialist, contact us today: +44 (0)20 7989 0000.