Why a holiday home in Southend On Sea could be a great investment

You have likely heard the word ‘staycation’ banded about in recent times – especially given how restricted travel was during the heights of the pandemic, but more people holidaying on our own shores means there is a great opportunity for those looking to invest in property.

And there are several good reasons for doing so, including that you and your family will get a nice home away from home to stay in if you want a break but aren’t keen on jet-setting off to another country.

But that aside, let’s talk financial reward, because if you invest well, and in a good area prone to tourists – like Southend - you could be seeing significant gains to your bank account before too long. Holiday homes tend to charge a rate that means a one-week stay will net you more profit than an entire month would in a regular rental – so even with the off-season factored in you should still be seeing more gain than a standard property.

With that though, do keep an eye on other factors that could have an impact – such as a wealthy area which will likely give you less yield than other places.

Another thing to keep in mind as a plus for the holiday home market is the money you will save on general upkeep fixing things like wear and tear. A lived-in property will need more maintenance than somewhere that only houses people for around a week at a time – less chance for damage to be caused when people view the place as not their own.

And whereas homes are thought of as an investment, holiday homes are looked at more like a business which means that there are tax advantages to be found. Speak to the relevant people about this because any chance to save money is one worth looking into.