 Buying
A Holiday Home: Location is Key. EB July 2007
When you’re buying your holiday home there are
all sorts of things you need to consider.
Obviously finance is one of them. You have to
make sure you go for one that’s within your
means.
But another major consideration when
buying a holiday home is whereabouts it
should be. The location of the holiday home can
make all the difference as to whether you enjoy
it or not.
So how do you decide where to look for your
holiday home? There are two main points to
consider. The first is – why are you buying a
holiday home?
• Is it for just one or two major holidays a
year? If so, it’s fine for it to be a fair
distance from where you actually live. But if
you plan to use it as a weekend bolt-hole, it
needs to be somewhere you can get to easily on a
Friday evening after work.
• Will you be using it just in the summer or all
year round? If you will want to get there in the
winter, it needs to be somewhere with reasonable
access.
• Is it solely for your own use or do you plan
to let it out? If the latter, it needs to be
somewhere people want to go on holiday.
• What type of holidays do you like? If you are
sociable and like a holiday with lots of people
around, beware of falling in love with an
isolated cottage in the middle of nowhere.
The other major consideration in buying a
holiday home is how much can you afford? Holiday
homes in the most popular areas may well have
risen in price beyond your reach. But if you
can’t find anything you fancy in these areas,
there are plenty of other areas you can
consider.
• Seaside towns and villages in areas like the
south coast of England,
Norfolk and the
Yorkshire coast have become very expensive for
buying a holiday home. But look in
coastal areas near other big conurbations such
as the north-west of England or the
south Wales
coast. You can still find attractive homes in
these areas without breaking the bank.
• Scotland is still a good bet. It contains some
of the most spectacular scenery in Britain – in
fact in the world – but prices in many places
are still lower. Not all lenders south of the
Border will lend on properties in
Scotland, but
some will – ask your broker.
• Northumberland has been called “England’s
best-kept secret” – especially the area round
the south Tyne and the North Pennines. You would
be amazed at how low some of the prices are, yet
it’s a stunning place for a holiday.
It is still true that location is everything.
You must choose your holiday spot carefully to
get the most out of buying a holiday home. The
good news is that there are still plenty of
great places to choose from.
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