A Guide to Buying A Holiday Home

Buying a holiday home in some tropical paradise is on most people’s hit list, and who could blame them? When you have a couple of weeks free, simply book your flights and you’ll be relaxing poolside with your favourite drink in hand before you know it. If you are thinking of acquiring a holiday home somewhere exotic, here are a few tips to help you make all the right choices.

  • Security – This should be your number one concern; what will happen to your holiday home when you are not there? It is for this reason you should buy a property that is within a gated community, with round the clock manned security. Only then can you be sure that your home is safe and secure. There are luxury lagoon front residences Phuket that fit the bill perfectly, and when you are not there, you can rent your home to generate an income.
  • Legality – Buying real estate in a foreign country does leave you open to all sorts of risks, especially when the legal documents are in a foreign language, which is often the case. It is therefore imperative that you have a respected local lawyer oversee the purchase, as this is best way to ensure that your property acquisition is legal and above board.
  • Income Generation – Of course, if your holiday home is empty for half the year, you would expect to rent the home to short-term tenants, which will generate a steady income. You will need to join forces with a local property management company, who would handle every aspect of the rental, plus they will patrol your property on a daily basis.
  • Long-Term Prospects – It is no good buying a property in an area that is in decline; indeed, you should be looking for a place that is well-established and popular among holiday home buyers, as this will ensure that land prices appreciate well.
  • Local Amenities – Very important to check that necessary outlets are close at hand, and when you buy in an established holiday home zone, they have everything you could possibly need, without having to leave the estate. If you are buying a beachfront property, the nearby communities should be nice and crime should be virtually non-existent, as you would have on the tropical island of Phuket, in the South of Thailand.
  • Building Maintenace – We all know how fast buildings deteriorate when they are empty, so you do need to have a local property management company take care of the property. Coastal buildings are prone to storm damage, and if you have a company looking after yours, then you can rest assured that all is well.

As you can see, there are many important aspects to consider when purchasing real estate in a foreign country, and if you take all of the above into account, you should make the right choices and be very happy with your holiday paradise home.