Pick the right season:
Whether you’re buying holiday accommodation by the beach or near the snowy mountains, you should wait until the peak season is over. This is due to basic supply and demand terms, during peak season foot traffic is higher and demand is higher, therefore, the cost is going to be higher. At the end of the season, less people are thinking about the area so you are likely to get a better deal.
Be financially prepared:
It’s important to remember that the expense of your new holiday accommodation goes beyond the initial purchase of the property. Do your research and make sure you are prepared for the initial set-up costs and ongoing maintenance fees. Whether you’re planning to lease your property on Airbnb or use it as a holiday home for your own family, you will need to purchase extra furniture, appliances, linen and in most cases garden equipment too.
Be clear on the purpose of your property:
If you are buying your holiday accommodation for rental purposes, you need to remember that peak season is going to be the time of year when your holiday accommodation will generate the most income, so you most likely won’t be able to use it during this time. If you’re not willing to give up the peak time slot to other people, then you need to be aware that you might not make as much money from your investment.
