There are so many of us out there that wish we could purchase a property in our favorite holiday destination. There will be no need for hotel bills, you can visit a place that you made as your own home, and you can visit your own home even if the tourist area you like is in peak season when hotels and apartment rentals are pricing their accommodation at premium rates.
Isn’t It More Expensive to Own a Place Than Get A Hotel?
We thought we would get this question out of the way with immediately. It is true that if you buy a place abroad, there are some expenses that will come with it. For example, if you took a mortgage, or the pool needs regular up keep (if it has a pool), having a cleaner come in every so often can also cost money.
There are some advantages though:
- Property is always a great investment
- You won’t be paying water and electric when you are not there
- You can empty the swimming pool while you are not there
- You can visit your property any time of the year
- You can become a vacation rental owner
Use a Vacation Rental Website to Make Money
One of the big plus points to owning a property you rarely stay in is that you can make money off the place while you are not there. All you need to do is list the place on a vacation rental website. There are plenty out there to choose from. Just check Airbnb for example. You can find a good guide on how to rent your property out on Airbnb here.
You can also try the Lodgify website itself, which is the website that wrote the Airbnb article suggested above.
Be warned that renting out your property may sound like an easy enough task, but if you are not there, you will need to consider a way people are able to check into your property. On top of this, you will need some local contacts for maintenance and cleaning.
Another factor you may want to consider is furniture. IF you are letting other people stay in your holiday house while you are away, you may not want to fork out on expensive furniture simply because there is a risk that it could be damaged. However, as long as you are careful about who you select or allow to book your property, then you should not have a problem.
Avoid groups of young people if your property has expensive furniture. On the other hand, if it is just a simple apartment or villa, then you have nothing to lose. You will be making money to pay the mortgage if you did not buy the place outright, and you can always block off dates for times that you want to go there on vacation.
Today there are thousands of people that use vacation rental websites to make money out of their holiday homes while they are not there. Therefore, if you were on the fence on whether to buy a holiday home at your fav holiday destination, then hopefully we have enlightened you. For more information check out the Lodgify blog.
