Should you buy a Holiday Home Overseas?

It safe to say get this not as much money in the buy to let market as they used to be. The days when you could get great rates for a property to rent out and make money being a landlord? They’re pretty much long gone. However, it can still work even if it’s not on home soil.  Many savvy people have started investing in holiday homes abroad to make more of their money. They’re all banking on the vast amounts of cash to be made from the inflated prices charged for weekly rental rates during peak season. Most holiday operators put a premium on their prices during the highest demand periods. For example, think school holidays, Christmas and new year. And why wouldn’t they?

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[Photo courtesy of Max Vakhtbovych/]

Out of season, the property could sit empty for weeks or even months at a time. And the mortgage and running costs still need to be paid.  You need to be able to offset those outgoings to make sure you can pay for them all year round. If you are thinking about investing in the holiday lettings market, then you need to be careful. It’s time to think long and hard about all the extra money and work involved, which will be more than your typical buy to let in your hometown. One of the reasons that people pay such a high amount to stay in lovely holiday properties is they want to go somewhere a little bit different to home.

Therefore, you need to decide where the best place to purchase is. It could be as close to home or as far away as you like, but remember to make sure you can afford to get there if there’s a major problem. You could plump for a luxury place like the Four Seasons Nevis in the West Indies for something entirely different. If that’s just too far away, stick to a cheap holiday apartment in a less exclusive resort. It all depends on what sort of cash you want to invest.

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[Photo courtesy of Rachel Claire/]

Running a holiday property is not a piece of cake. There’s a lot of work involved and you have to ask yourself if you are prepared to do it yourself. If not yet going to have to pay someone to do it for you and that’s going to take a chunk out of your income. There is a reward for all of this extra effort, though. Yields will be much higher, and you could make yourself more money in the long run.  Another benefit adding to the long term appealing investing in a holiday home is that you should receive tax benefits. This means you could make even more profit.

You also need to consider how you are going to get your hands on the funds to buy a holiday home. Unless you’ve got substantial savings, you going to need to borrow some money. You are not going to have as many options as if you were looking for a traditional buy to let mortgage. Calculating how much income a holiday home is going to make can be  little more than guesswork, so lenders are often hesitant.

Have you invested in property overseas? We’d love to hear your stories and tips! Please leave them in the comments below.

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A Simple Guide To Keeping Your Home Cool In The Summer

Our homes should be our haven. But let’s face it, in those hot summer months it can be quite unbearable to be in and outside. While it’s tempting just to give in to the heat, there are a few things you can do to make your home cooler. Without causing too much strain on the finances. With this simple guide, your home will be a cooler place in know time.

[Image courtesy of deovolenti/]

Focus on your body temperature first.

Keeping your body temperature low is a step in the right direction. Drinking ice-cold drinks and applying a cold compress to your forehead and neck is a great place to start. Also by wearing clothes that are cooler like cotton or linen.

Check out your air conditioning.

Before it gets too warm, make sure your air conditioning is in good working order. It’s no good getting to a point where you need it, and it’s not working. Getting regular ac services drastically improve performance. It will also make sure it does not cost you more than it should to run it.

Keep your blinds closed.

It’s been proven that 30% of your home’s unwanted heat can come from your windows. It might seem simple, but something as simple as closing blinds or curtains can stop your home from becoming like a greenhouse.

[Image courtesy of j_ridley2000/]


Use your doors wisely.

Keeping doors shut during the day will allow the cooler air to circulate the rooms you are using. But the opposite should be done at night as the temperature drops. This will allow all the cooler air in your home to circulate throughout reducing the temperature and making your home feel fresher.

Change your bedding sheets.

It’s a good idea to change your sheets through the seasons. Fleecy style bedding is perfect for the cold winter, but you will want something a lot cooler and thinner during the summer.

Let the night air in.

During the summer months, the temperature will drop after the sun sets. If this is the case for where you live, then make the most of it and open the windows in the house allowing the air to circulate. It will also allow you to have a cooler night’s sleep. It’s always difficult to sleep when your bedroom is hot.

Retire your oven during the summer months.

It may seem obvious but by not using your oven you’re going not to create any extra heat. Grilling and changing your cooking habits will be vital for keeping your home warm. The oven expels heat and will only add to your indoor temperature whenever being used.

Use extraction fans in the kitchen and bathroom.

Finally, the last piece of advice would be to make the most of your extraction fans in the kitchen and bathroom. These will suck in the warm air. A hot shower will generate steam as will cooking, no matter how you are doing it. So crack those fans on to help avoid increasing your home’s temperature.

I hope this guide will help your home stay cool in the hot months.

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