Buying a Holiday Home

A property finder’s local market knowledge helps clients to decide where to buy.

It is often the case that a client might not be entirely set on a particular area but instead a general area such as the Cotswolds, the South Devon Coast, Norfolk Broads, the Lake District or by a Scottish Loch.

Having a deep knowledge of the local geography, a property finder can diligently advise on the locations that will best suit a client’s preferences and lifestyle ambitions within a wider area.

Whether it be that a seaside town, a quaint village, or an entirely remote location might best suit the brief, Garrington can provide guidance to focus a search and successfully find a holiday home.

A property finder will often will have access to exclusive opportunities that an unrepresented buyer will not be aware of, owing to their longstanding relationships with estate agents, and other industry contacts, and their local property knowledge.

There is a difference between local knowledge and local property knowledge, the latter being important when searching for an idyllic second home.

In the prime locations, the most sought-after properties can be elusive and rarely make it to the open market, instead of changing hands behind closed doors with only those ‘in the know’ gaining access.

A property finder can be incredibly useful in the pursuit of the ideal second home, especially in popular prime locations, gaining access to exclusive opportunities, sourcing properties off-market or pre-market and often avoiding potentially highly competitive scenarios.

Those planning on buying a second home are often considering locations that are within a few hours’ drive of their main residence.

Not being local to the area in which they’re searching for a second home can raise issues and leave a buyer missing out on their perfect property simply because they were unaware of it being available or unable to view.

Garrington’s Regional Partners are immersed in their local market, their black book of contacts is vast and their dedication to each search is unwavering, leaving no stone unturned when searching for the perfect holiday property in an ideal location.

There are many obvious reasons, but to highlight a few of the driving forces behind a search and explore why buy a second home;

• a weekend bolt-hole to be easily enjoyed within an hour or so drive of the main residence,
• a second home in a popular holiday resort destination that is often fully booked in peak season,
• the ability to readily enjoy a break at the drop of a hat without having to book,
• or a home large enough for a multi-generational family from varying locations to be able to enjoy together year round

The list of reasons is vast and varied, we’ve assisted with an array of briefs and offer a bespoke service to assist with each unique search criteria.

Due to the surge in popularity of staycations and the sometimes more favourable tax implications, a UK holiday home investment is an increasingly appealing prospect for investors.

As an investment, a holiday home can generate considerable income throughout the peak months and in certain areas, with so many now enjoying the ability to work remotely, holiday homes are seeing a general increase in occupancy year-round – so long as they have good internet connection!

Having advised many clients to purchase a holiday home investment over our 25 years in operation, our team have a wealth of knowledge and understanding surrounding the unique challenges and requirements necessary to find and secure successful holiday home.

There are many considerations when investing, and several unique to holiday home investment – after all a holiday let guest has a very different set of requirements to that of a long term rental tenant – this should be kept in mind when looking at different properties, a property finder will be able to advise on the preferences of holiday let guests.

If you’re choosing to buy a holiday home investment you will likely be aware of the implications of owning an investment property and becoming a landlord.

Being a landlord of any property means you will have certain responsibilities and obligations; the property must meet industry standards and there will be tax implications.

Garrington always advises that their clients engage the services of a tax advisor who specialised in property ownership to ensure their purchase is structured correctly from the outset.

For those who are time poor or not local, it is wise to consider holiday home management.

It can also be of merit to employ the services of a local holiday letting management company who will oversee the property and ensure their landlords have everything necessary in place – this can be particularly prudent if you are not based locally.

Due to the nature of holiday letting often having a changeover of guests on a weekly basis – there can be considerable administration involved when overseeing a holiday let property, again this is something a professional management company can take care of.

Garrington provide guidance throughout the process of searching for a holiday home. We support, advise, and assure our clients through to completion and beyond.

Providing commentary on any surveys findings, assisting in resolving any issues that might arise and offering impartial advice where necessary, Garrington is on hand each step of the way.

Towards completion, whether we assist our clients by recommending a reputable local letting agent or simply provide local suggestions to those clients less familiar with an area, Garrington works to ensure the transition to ownership of a holiday home is smooth and pleasurable.