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Articles:
Holiday Let Property - An
investment and a life style choice
SB May 2007
A
holiday let property will be a life style
choice, as well as an effective part of your
investment strategy. Some people forget that a
holiday let business can be turned into an ideal
place to spend your retirement. Most holiday let
properties are larger than a standard
buy to let property and as a result you will
have space for visiting family and friends.
Through your holiday let business you could be
creating a perfect home to retire to in
beautiful surroundings. In the short term, you
could take a spring break with family and
friends without having to get travel agents
involved and knowing that you have everything
you need, waiting for you at your own holiday
home. Meanwhile the increase in property prices
created by the rapidly growing holiday let
industry can also add value to your investment.
Such increases in property value are
particularly noticeable in the south west of
England but are still an important incentive
throughout the country. In the short term
Enhanced Wealth can take you thorough all the
relevant tax incentives and choices available to
you when you start a holiday let business.
From the beginning of your holiday let business
you can reduce everyday costs like heating and
light to the running costs of letting agents and
management fees. A holiday let property run as a
business will also need cleaning and insurance
which can be counted as expenses and used to
reduced your tax bill at the end of the year.
Even the interest on your
holiday let mortgage payments can be taken
into account. Along with maintenance and damage
to property. Your holiday let property is a
valuable financial investment as well as a
creating huge potential for improving your
quality of life now and when you finally retire.
We
must remind all our clients that some of the
holiday let properties have restricted usage
title and land registry. Some properties have a
restricted usage title at the land registry and
cannot be occupied by the same person for the
whole year and this figure may vary in different
parts of the country. Most commonly with sea
side resorts like Blackpool the council can
prevent full residential use but we are
confident that our expert knowledge and
experience can help you navigate through any of
the complexities of a holiday let business.
It
is possible that you may have to subsidise you
holiday let business, especially during quiet
times of the year. However, when you consider
the long term potential of your investment, the
large tax incentives and the experiences you can
have in your holiday home the property can
become a huge part of your lifestyle. We can
offer advice on managing your assets and income
to ensure you get the best out of your holiday
let property.
A
holiday let business has excellent long and
short term advantages and can become an
important part of your life style. You can take
full advantage of your holiday home at any point
provided you let it out at its full rental price
for seventy days of the year.
At
Enhanced Wealth we can offer our clients a
number of investment strategies which
incorporate our expert knowledge of the buy to
let sector and our unique brand of lateral
thinking. Our clients range from graduates to
investment bankers and lawyers and doctors. We
can create an investment strategy to suit your
needs. Whether it is a buy to let or a holiday
let property or your own home we are certain we
can offer you the highest quality advice and
service. If you have any questions please do not
hesitate to get in touch with us.
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