Looking to Expand Your Property Portfolio?
From the hilltops to the beachfront, ideas for choosing your next vacation home
Are you looking to expand your property portfolio? If so, you may be conjuring up ideas of a beachfront villa or a tranquil hilltop retreat. But which kind of vacation home will suit you best? Here are some inspirational ideas that will have you dreaming of your next vacation in no time.
The waterfront wonder
Do you dream of spending your days sat on a terrace overlooking the ocean waves or catching rays on the golden sands? If so, there’s no better choice than a home that affords you a prime beachfront location. Buying by the sea often represents a good investment, as there is a growing demand for rooms with a view. Before you zone in your search area, do some research, and think about where you want to buy. Would you rather invest in a place you can access within a couple of hours or are you looking for something a little more exotic? Get in touch with a realtor closer to your chosen destination, and go over some options. Find out more about the local market, and potential for growth.
The mountain retreat
Are you a keen skier? Or do you crave peace and quiet when you take a vacation? If so, a secluded spot in the mountains may be just what you need. Make a list of priorities, and start searching in areas that take your interest. If you want to rent your second home out when you’re not using it, do your homework and pinpoint locations, which appeal to tourists throughout the year. Generally speaking, you’ll pay for views and location. The more exclusive the area, the higher the asking price.
The chic city pad
Do you travel for work or are you keen to add an urban base to your portfolio? Buying in the city is very different to buying a vacation home on the beach or a rural idyll. You usually get a lot less for your money, and location is everything. For certain zip codes or street names, you’ll pay a premium. When you’re looking in the city, it’s worth exploring established hotspots, as well as those that are set to grab the headlines in the coming months or years. If you’re buying to rent, make sure you’re close to amenities and good transport links. If you’re targeting tourists, buying near major attractions is always a good idea. If you’re buying purely for your own enjoyment or financial gain, you can tailor your wish list accordingly. Typically, you’ll pay more to be centrally located. Penthouses, and apartments and townhouses that offer a view of rivers, lakes or landmarks, may also represent a shrewd investment.
Are you thinking of investing in a vacation home? If you are, it’s worth weighing up the options, and thinking about the kinds of vacations you like to take, and the type of property you want to add to your collection. Research the area, contact realtors, and look for something that will grow your money, as well as providing a fantastic base for memorable trips.