Tips for purchasing superb vacation rental properties in South Africa
Having a luxurious home away from home to which you can retreat whenever you are longing for respite is a fabulous ideal. Many buyers, however, feel that such an investment will go to waste when the home is only in use a few weeks of the year. Fortunately, advertising this space as a seasonal vacation spot is not only a good way to generate some income, but may be rewarding enough to afford you other property investment opportunities. It’s all about supply and demand, however, and meeting the expectations of your guests who will want to return next year. Fortunately, if you are seeking properties for sale to invest in as vacation rental properties, we at Fine & Country South Africa will certainly be able to assist you. Below, we take a look at a few quick tips on finding the right rental properties that will attract high-end holiday-goers.
Location is a major factor
Before purchasing any prospective rental properties, you will need to do a bit of market research. Some people enjoy the quiet countryside, others are seeking a wild, bushveld experience, and plenty of holidaymakers just want to be near the ocean. South Africa has no shortage of luxury properties located in such areas. Provinces such as the Western Cape, in particular, draw both locals and international tourists who pay handsomely for vacation rental properties near the Cape Winelands, Knysna or any of the coastal towns. Seasonality is another factor to consider, as some months will be busier in certain locations. In South Africa, the December holidays are a particularly popular time for inland dwellers to travel down to the beach. Considering these aspects will give you a realistic idea of expected profit potential.
Don’t forget about unexpected costs
The maintenance and upkeep of a vacation home can be tricky, especially if you live far away from it. Outgoing expenses will range from routine garden care and house cleaning to covering emergencies, like a plumbing leak or faulty wiring. It is important that your cash-flow estimates are accurate, and that you ensure to put aside money monthly for any instances where immediate repairs and maintenance are required.
Look for customisable properties
Unlike the home you already own and wish to stay in, holidaymakers will go where the trends take them. Tourists are often willing to pay more for rental properties that cater to modern tastes and may even go out of their way to avoid a space that looks old-fashioned or outmoded. Properties with timeless architectural features that stand the test of time are a good place to start. Large windows and entrances that allow for lots of natural light are a good example. Also consider that features such as tiles or carpeting take a lot of work to replace as trends change, while spaces with customisable options like laminates or luxury vinyl flooring are easier to upgrade on a whim.
Space for dynamic furnishings
Furniture and décor will also change as trends do, so seeking out high-quality staple pieces that make the most of a given space is vital. Large, comfortable seating, eating and entertainment areas are always a drawcard for families. You may also want to consider spaces that are child-friendly or ideal for simply relaxing in front of a breath-taking view. Look for potential rental properties that will provide you with an opportunity to emphasise experiences instead of merely accommodation.
If you require assistance when it comes to profitable rental properties and what purchasing them entails, we at Fine & Country South Africa can assist you. We have extensive knowledge of luxury homes and the current South African market, and you can trust us to offer expert advice and a seamless agency experience.