If you are thinking of investing a second home, it can be a bit confusing as to where to begin!
There are plenty of factors to think about when buying a second home, some of which can make the decision to purchase one very hard indeed. From the perfect place to buy your holiday home, to understand the accessibility of your home, or perhaps concerns about the future value of your investment, there are lots of questions to consider.
Fortunately, we have come with a short guide to help you get your head around your choices, and hopefully present to you the advantages of buying a home from home greatly outweigh your woes!
So, what are they pros of buying a holiday home?
1. Easy Getaway
What attracts most people to the idea of a second home is the ability to go on holiday whenever they like. Owning a holiday home means you don’t have to worry about packing too much. Just leave some stuff like clothes, surfboards and the like at your second home and you can travel light and at the drop of a hat, knowing that you’ll not be forgetting anything that will impact you having a great time.
2. Highly Lucrative
Another strong reason why Brits are getting themselves onto the second-property ladder is that holiday homes can often prove highly lucrative, especially at peak times of the year.
3. Marketing it is easy
Websites like Airbnb and HomeAway have made it easy for second-home owners to let out their holiday homes.
4. Favourable tax laws
Holiday lets are subject to more favourable tax laws than standard rental properties, thanks to being seen as a trading venture rather than an investment. But, in order to get on the right side of Her Majesty’s Revenue & Customs (HMRC), you may have to let it out to holidaymakers.
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