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.
You might also be interested in
We have seen a busy start to 2024 with plenty of buyers out looking for property, particularly first time buyers who couldn’t get a look in the last couple of years due to high house prices and rising interest rates. Luckily, January saw interest rates starts to fall and although the Bank of England opted to keep the base rate the same due to not meeting their target on inflation, we continue to see rate cuts which is really positive. Rishi Sunak has proposed a 99% mortgage meaning you could buy a property with just a 1% deposit, while this is a positive move to get more buyers on the ladder, there is the concern this could again push house prices up causing another housing bubble and potentially pricing out the people it is intended to help. There are already plenty of ways to get people on the property ladder with as little as no deposit so I would advise anyone wanting to buy a property to talk to a local mortgage advisor to find out what your options are. When it comes to homeowners with existing mortgages, you can find a new deal up to 6 months before your current one expires. As rates will most likely be higher for anyone coming off an existing rate over the next couple of years, it is ideal to look at your remortgage early so you can ensure you are prepared for the change. Speak with Paisley Gray, our Mortgage and Protection Specialist: paisley@pmr-fs.co.uk 01702 529 656 07949 537 024
Working in the estate agent business brings a lot of trial and error with it as part of the job, but that means that we recognise the things that work well for us, and we can expand on them to drive our levels of success even higher. Keeping our eye on the ball and being able to adapt is crucial to a successful sale, and there are key things that we make sure we do with every property on the market to drive interest and to ultimately secure the right buyer for you. Here are some of things that we do to drive sales and get you the best price possible in any given financial climate for your current home. Marketing the property well Above all else, our job is to make sure that a home on the market looks as good as it can to potential new owners. There are a lot of factors that play into this, and one of those things, and a key one a that, is getting our professional photographers and videographers in to create the visuals we'll use both in our online and offline marketing materials. The property needs to look like a dream home and our professional team of industry photographers and videographers will work together with our agents to make it happen. Launching at the right time We also only launch a property on high search days, normally a Wednesday or Thursday, and we work with all the main third-party sites to guarantee that your property gets as much exposure as is possible. We constantly have our eye on the current trends and know through many years in the business when is or isn't the right time to market a property. The Price The price is one of the most crucial elements in selling your home and this is where it could easily go very wrong for you at the beginning of your sales journey if they property isn't priced correctly. We have more than enough experience in the industry to advise you on a price that will not only find you the right buyer but also encourage the potential of competing offers. Keeping an Active Social Media Presence Like most things nowadays, social media leads the way, and it is absolutely key that we use it well for all areas of what we do. Our team are very active on social media and we have noticed in the last couple of years just how many people use social media as a search platform, alongside their web browser, to seek out their next property purchase. We have found social media to be an imperative tool in recent years in supporting the marketing campaign for your home. Quick and efficient communication Communication is another key thing that we always pride ourselves on. Not only do we keep you updated every step of the way, but we answer all queries within 5 minutes – and we make sure viewings are blocked together as much as possible to keep things simple for everyone. For more information on the steps we take and know to work well when selling our properties, check our our free downloadable e-guide, available here: https://lawrenceantonyhomes.co.uk/a-guide-to-selling-your-home