Is Buying A Vacation Home Worth It?
Buying a holiday home is the dream of many people
If you love going on vacation and love a particular place to go on holiday. It´s maybe worth it to invest in a vacation home. After reading this blog we hope you have more clarity if buying a second home or holiday property on the Costa Blanca is worth it for you.
Do you dream of summer at the beach or next to the pool? The rise of remote work in these last years makes spending the warm summer month at one of the beautiful Costa Blanca beaches or with your feet in the swimming pool, while you send emails from your laptop more possible than ever before. Or maybe you prefer enjoying a nice property during the cooler months, somewhere inland.
The sales of vacation homes or second homes, increased by more than 40 percent, in the Costa Blanca, since the pandemic.
But, is buying a vacation home or a second home actually worth it?
It has many benefits! You´ll be able to stay as long as you want, and you will save money that you normally would spend on hotels or rental properties. On top of that, it´s a great investment and you can rent it out when you are not there. Rental properties on the Costa Blanca do very well and it can make your vacation property a very good source of income.
However, there are some drawbacks. Here are a few to consider:
One home can have many costs to maintain, and your second home will need just as much attention. Probably you will need to hire people for cleaning and maintenance (like a pool company or gardeners). It’s also wise to have an alarm system as there will not always be somebody.
Fewer travel options
When you invest in a vacation property or second home, probably you will not be traveling to other places. But if you love the place and you go on vacation every time you get the chance, then buying a vacation home might be a great idea.
You might not use it as much as you think.
If the vacation property or second home is a long drive or plane trip, maybe you will not go as much as you would like to. Think about how much you will be enjoying it. If you are planning to make from your vacation property or second home, an extra source of income, this probably won´t be a problem as you can rent it out meanwhile and earn money with it. Think about how much you will be enjoying it. If you are planning to make from your vacation property or second home, an extra source of income, this probably won´t be a problem as you can rent it out meanwhile and have a great source of income.
Renting out can be complicated
Be sure you´re comfortable with renting out your vacation property or second home. It can be a great source of income, but you might be uncomfortable with having other people in your vacation home.
When it´s rented, any issue they might have must be solved as quickly as possible. You can think of the air conditioner breaking down, the washing machine or any problem which can occur.
To avoid these headaches, it´s important to find a Real Estate with experience in holiday rentals. La Vila Sol Real Estate, has more than 10 years of experience in holiday rentals on the Costa Blanca. We will take care of everything, from receiving the client to solving any inconvenience that may arise.
Do you already know investing in a holiday home is for you? Keep on reading!
If you know by now, that there are more positive aspects of buying a holiday property or second home, and you are decided on finding a suitable property, the are some important aspects you should have a look at.
The location is key
Especially if you might rent it out. Getting to know the area very well, will not only help you determine where to buy, but it will also help you when it comes to marketing your property if you rent it out. You also will want to buy a property in an area where the value is increasing, like this you will make sure your property is also a great investment.
Plan your budget
Before you start looking at properties, plan your budget and stick to it.
Do I want to buy a villa or an apartment?
You must look at what your needs are. Owning a villa is amazing, they usually have nice swimming pools and great outside areas where you can enjoy the good weather the whole year-round. But when you buy a villa, there are also more expenses, like gardeners and pool maintenance.
Buying an apartment, to enjoy as a vacation property or second home gives you the ease of closing the door and forgetting about it.
You will have to decide what suits your budget and lifestyle.
If you have already set your budget and know if you would like to buy a villa or apartment. La Vila Sol Real Estate will be happy to be of your assistance and help you resolve any questions you might have. .Also, if you are not sure yet whether to buy a villa or an apartment, you can always contact us for advice.