05 September 2006

Holiday homes cheaper to buy than let

It can prove cheaper to buy a new property abroad than to spend out on annual holiday accommodation.
By purchasing a property abroad and letting it out for just six months of the year, you can effectively holiday free and earn enough through rental fees to pay for the property outright after just five years depending on the house and location of course.

While a couple may spend an average £1,000 in peak season on accommodation for a week’s summer holiday, they could opt instead to purchase a new holiday apartment in the same area, which they could frequent as often as they desired and secure a profitable income from holiday rentals. Over as little as five years, this could lead to enough in holiday rentals to effectively pay for the property, any overheads and other property related costs.

The internet today has made it increasingly easy to research and purchase property abroad.

Purchasing a new property abroad can be a great investment. It can offer you a guaranteed holiday destination that you can jet off to at a moment’s notice with the security that you will be staying in a property that you are familiar with, as well as offering high returns.

New properties are particularly cost effective due to low to none maintenance costs and can take away some of the uncertainty of buying in a foreign country. Buyers can feel confident that the property they are purchasing will be in good condition and they will be unlikely to be faced with any nasty surprises.

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