Summer House - The Packrat Wifey

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?

Free Interior of contemporary house on lake on cloudy day Stock Photo

 

[Photo courtesy of Max Vakhtbovych/pexels.com]

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/pexels.com]

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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Is Your Home Summer-Ready?

Spring is drawing to a close, and summer is within touching distance. You may be thinking about spending lazy days in the garden, but is your home ready for summer? Here is an essential checklist to prepare you for the warmer months and ensure you’re all sorted and ready to relax in the sunshine.

Prepping your garden

Most of us get excited at the thought of spending free weekends in the garden. Are you planning to get friends and family around? Are you looking forward to playing with the kids in the open air? If so,  it’s a good idea to get your garden prepped and ready now. Start by having a good clear out and getting rid of any loose patio tiles, weeds, and dead leaves. Give decking and paved areas a sweep and then jet wash them clean. Mow your lawn on a dry day, and plant your seeds. When the weather warms up, dust down your patio furniture and give the barbecue a thorough scrub. If you’re eager to add some color or create an entertaining area, look for inspiration online. You can convert a modest decking area into a chic dining space. Add a rattan table and chairs set, some oversized lanterns and a couple of patterned floor cushions.

[Photo courtesy of U.S. Department of Agriculture/pixabay.com]

Spring cleaning

Nothing prepares you for summer better than a good, old-fashioned spring clean. Now is the time to declutter. Tackle those boxes that have never been unpacked and be ruthless. If you have items that are in good condition, give them to charity, or organize a yard sale. Visit the tip and get rid of anything you don’t want. Once your rooms are clear, get your rubber gloves out and clean from top to bottom. Open the windows and let the fresh air in. You may not enjoy cleaning, but you’ll feel much better when it’s done. Pack away winter clothing to give you more closet space.

Maintenance checks
Before summer arrives, it’s a good idea to get any DIY jobs completed and to book some essential maintenance checks. Finish off painting jobs and put those shelves up in the spare room. Call a service man to carry out appliance repair, and book boiler and air conditioning checks. Replace broken appliances that cannot be salvaged. If you’re looking to save money on energy bills, go for products, which have a high energy rating. If you’re expecting hot weather, it’s particularly important to get air conditioning units serviced.

Interior design
If you fancy brightening up your home in time for summer, you don’t have to spend a fortune to make a difference. Invest in finishing touches, such as lamps, vases, and cushions to inject some color and give your home a new look. Look through some magazines for ideas.

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[Photo courtesy of midascode /pixabay.com]

If your home is not quite ready for summer, don’t worry. You’ve got time to work through your to-do list. Investing time and effort now will enable you to put your feet up and enjoy the warm weather when summer arrives.

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Best Tips When Planning for a Summer House Maintenance

Acquiring a residential house in the modern society is one of the achievements that promote stability, given that the process may sometimes be challenging. It is, therefore, important for one to look for a house that can withstand adverse weather conditions as well as offer adequate security from extruders. During the summer season, it is most likely to experience heat, humidity and summer storms. The summer period enables one to carry out house inspections without interference. There are several aspects to consider, with regards to Summer Home Maintenance. They include,

The Roof

It is important to note that your roof should be inspected annually to check for any defects and assess the roofs ability to shelter you during the rainy seasons. These inspections ensure that you take care of minor roofing faults before they advance into major problems. The roof should always be cleaned to get rid of permanent damage caused by water.

Air Conditioning

This is a critical aspect that keeps you running smoothly, minimizing the summer electric bills. Proper air conditioning ensures Maximum functioning of the fan. Ensure that the coils are cleaned thoroughly and minimize potential fire hazards by eliminating faulty wiring in the house. Changing your air filters once a month, especially when using the unit every day will improve the efficiency of the equipment.

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[Photo courtesy of tpsdave/pixabay.com]

Gutters

Clogging and the presence of additional leaks is a problem that can be eliminated by consistently cleaning the gutters. Gutters should be cleaned twice a year, meaning that the first cleaning activity should be carried out at early winter after most of the leaves have fallen and at early summer after seeds, blossoms and flowers are done.

Window

One of the simplest ways of ensuring that the hot summer heat remains outside is checking the Windows. You should routinely inspect the sealants ensuring that the inside and outside are suitably secured. Besides, you should check for any damages that may have been caused by certain weather conditions to maintain a safe and reliable house.

Pools

Quality pool maintenance activities involve levelling the water, balancing the chemicals, Pump inspection and cleaning the area around and inside the pool. This will enable you to have the facility ready for use during the summer season.

Always consider these tips when planning for your summer house maintenance, and you will not have to worry or run up and down whe

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