Thinking of buying a second home? You’re not alone. According to a survey taken in 2016, over 2 million people in the UK have found a ‘home away from home’ in their holiday property. Whether you’re looking for a home in Bournemouth or Barcelona, holiday home hunting is one of the most enjoyable real estate shopping experiences. However, there are some important things to be aware of before you sign on the dotted line.
When it comes to purchasing a second home, the world is truly at your fingertips, but your lifestyle will certainly influence the location. Are you a jetsetter who will book a ticket and fly off to Paris or Spain with only a moment’s notice? Then a holiday home abroad may be your perfect getaway. If your work prevents you from taking spontaneous (or even planned) vacations, a holiday home in the UK might be the right decision. When it comes to choosing the location, it’s best to abide by the two-hour rule: if you can’t get to your holiday house within two hours, whether it be by plane, train, or car, then it’s too far away. Zoie Hawker of Fine & Country Portugal attributes this to the success of many holiday homes in the Algarve. Hawker says, “we have daily year-round flights to most UK airports, and this makes it possible for owners to pop down for a long weekend or short break.” The most used holiday homes are normally within two hours of the owner’s primary residence.
People buy a second home for all kinds of reasons, but using the knowledge you’ve gained from buying your first property is essential. “Make a list of the things that don’t work in your current home to avoid making mistakes” advises Simon Bradbury from Fine & Country St. Neots. Consulting a local expert is one of the best ways to get the most out of your second home. As Nuno Durao of Fine & Country Portugal says, “owning a second home is an emotional decision, but with a lot of rational decisions along the way.”