Thinking of buying a holiday home?
Category Property Advice
Have you always dreamt of owning a holiday home? Be it for personal use or to generate rental income, the current technical recession makes this dream much more possible. While the buyers market is a great opportunity to obtain your dream holiday home there are numerous factors to consider before making a purchase.
Location
Once you have decided on the perfect holiday home it would be wise to research the area for any shortcomings. The location of the holiday home should be in a well maintained popular holiday destination that offers guests the amenities that they would require. For instance, is the holiday home close to the malls and beach. Determine the level of property appreciation the holiday home has achieved over the past two years to ensure you have made a sound investment and will not be losing money instead.
Affordability
Before making the purchase of a holiday home, establish if the cost of owning and maintaining it will be feasible for you. Income is not guaranteed throughout the year while guests are more likely to rent the holiday home during peak seasons. Your holiday home should not cause you financial strain but be a relaxing getaway for your family. Costs to consider also include a deposit, transfer fees, conveyancing fees, interest rate hikes, insurance, maintenance, rates and taxes, security, and utility tariffs in the area.
Security
If your holiday home is going to be vacant on off-peak seasons it is recommended that you tighten up security. Install an alarm system from a reputable security company. The doors and windows of the holiday home must also be secured. In most complexes and flats there is already security in place that will foster to the safety of your holiday home.
Property management
If you plan to purchase a holiday home that is a distance away, you should look into hiring a professional property management company to look after the property and conduct regular inspections. They can also assist in allocating keys and collections when you have guests.
Here are two fantastic holiday homes on the market:
5 Bedroom House For Sale in Newlands
This bespoke family Newlands home oozes style, charm, warmth and integrated interior. It is low maintenance with incredible security measures put in place. The main en-suite has two large dressing rooms overlooking expansive greenery, in addition to two spacious bedrooms and bathrooms with a separate cloakroom. Downstairs there is an elegant en-suite guest room that flows into a private courtyard. It also has a large kitchen, entertainment patio, spacious living room, cosy family room, laundry room, scullery, fireplaces, and roll down shutters to add to the security. A separate cottage can also be let out to boost income. There is a double garage and additional parking for 6 cars. A borehole and water filtration system services the entire home.
5 Bedroom House For Sale in Camps Bay
This exceptional newly-built home was designed by Greg Wright Architects, and offers the most incredible elevated 360 degree vistas over Camps Bay Beach and over to Lions Head. It features high specification security, electronics, media and fittings throughout the home. It has five bedrooms and four bathrooms. The master suite includes a dressing room with UFH in en-suite, heated towel rail and integrated fridge in the bedroom. The first floor kitchen/living space has a feature window with views of Lions Head and a generous terrace with swimming pool and jacuzzi. This home also includes a study/wine room, laundry room, triple garage specifically designed to fit a boat, and domestic accommodation.
If you are looking for the perfect holiday home contact Knight Frank today. Our specialised agents will help ease the challenge of making your purchase a reality.
Author: Knight Frank