Everyone deserves a holiday, but not everyone can afford a holiday home. If you can, you’re going to want to put extra consideration into exactly where you want it. That includes the possible pitfalls and advantages. So, rather than booking that one way ticket to Paris and contacting a real estate agent, take a look at these five pointers which will help you pick the perfect vacation spot for your beloved holiday home. After all, the point of a home is having a place to enjoy.
What to Consider:
Have you been to the country before? Did you enjoy your stay? It’s probably not the best idea to choose your destination on a whim, since you won’t know what you might run into. And whilst a romantic adventure in Italy might seem wondrous, that’s not to say that it will fit your eventual holiday needs. Be sure to pick a country that you’ve visited more than once, and one you feel where you and your family fit into nicely. If you enjoy the culture and cuisine, then all the better.
Your choice will also depend on the type of experience you’re looking for. Are you interested in an adventurous holiday or something that’s a little more relaxing? Depending on the country you pick, or even the town within, you’ll get loads of hiking, trails, waterfalls and adventures, or plenty of local spas, luxurious restaurants and kicking nightlife. Cater to your tastes or you’ll end up buying a home in a place you eventually can’t stand.
Your selection is also based on your marital status. If you’re two happily married individuals with a lust for romance, then the foothills of Tuscany might be for you. Whereas families might try something down at the beach in Greece or elsewhere.
Choose something that will suit your purposes and your budget. Countries with very strong economies provide a certain level of certainty and security, but the cost of living will be much higher. Countries with weaker economies provide exactly the opposite. In addition, it might be easier to purchase real estate in a country with a weaker economy simply because prices will be cheaper. Perhaps you’ll be able to get a fixer-upper worth a long-term investment.
If you’re not into scorching weather, then why on Earth did you buy that condo in the Sahara desert? It’s one thing to get acclimatized but it’s another to have to suffer through sweltering nights. Luckily, there are plenty of countries with warm summers and mild winters for you to choose from. Take that into consideration before you decide to buy.
4. Political Climate
In some countries it’s possible for the government to seize land as it sees fit. Make sure you research details like this before selecting the perfect spot for your holiday home. There might be higher taxation on foreign home owners, as well as a lot of red tape to work your way around once you purchase your home. Be sure to invest in a lawyer to help you check these things out. Luckily, in certain countries this isn’t the case. For instance, Turkish property is on the up and up because of new reforms in the country’s laws and regulations with regards to ownership.
If you’re not planning on staying in your holiday home frequently, you might be able to rent it out to other holidaymakers. Be sure to check out the laws with regards to this in your chosen country.
Lastly, consider what your true motivation is. Are you going to go on holiday at least once a year? Do you want to keep coming back to the same country each time? If this is your dream destination and everything checks out (and it’s within your budget) then by all means, go for it. Just be sure to check all the boxes first.
Rely on a good local realtor to talk you through the nuances of your chosen country and local area, so that you’re prepared for just about anything. Go for something that’s not too secluded but also allows you some privacy, and be sure to keep those emergency numbers on the fridge. Happy house hunting!