The Exponential Benefits Of Owning Holiday Cottages
As we are rocked by Covid-19, it’s important to focus on silver linings. One such silver lining we can draw from these times is the rise of staycationing, and therefore holiday cottages, in the UK.
The world is a wide and beautiful place. Sometimes, we can get so caught up looking overseas for beauty that we forget to look within our own little island. With travel restrictions in place, many Brits are now looking to short-let holiday cottages to vacation in.
What are holiday cottages?
A holiday cottage, otherwise known as a holiday home or ‘staycation’ home, is a property rented out to those looking to travel without losing that homely feeling. Hotels can be beautiful, but some may lack that cosy feeling that people often crave. Holiday cottages seek to provide that feeling. Typically, they are only rented out for a weekend or perhaps up to a month, as and when they are needed.
They don’t just serve as holiday destinations, though. Those who travel for work may rather rent out a holiday home than a hotel. Especially those who travel often! The idea is to provide an accommodation that individuals can treat as their own. Albeit for a limited time, and with some obvious restrictions. We can’t imagine the owners would be too pleased to see their living room repainted upon their return, for example!
Holiday homes may be a second accommodation for whoever owns them, or they may exist entirely separably. Either way, they are popular choices for short term stays. Additionally, they provide valuable additional income to a homeowner. In Covid times, as previously stated, staycations are becoming increasingly popular. Holiday cottages are expected to be in very high demand over the coming months. Perhaps even years!
How do I find, and then run, holiday cottages?
Research, research, research is key. Figure out where you want it to be, who your main targeted audience will be (families, commuters, couples for example ), whether you would like your property to be pet friendly, etcetera. Furnish your home with great care and thought, for yourself and/ or for those who will be temporary guests. Keep it neat and tidy, and keep it organized.
Knowing your audience will also help your marketing attempts. If you have a cosy little cubbyhole in the Cotswalds for example, you may want to market more towards couples. If you’ve bought a large, multi-storey family home, you may do well to angle towards families. Making your property dog friendly will also bring in more families. Additionally, single commuters with beloved companions or individuals with service animals would appreciate (and sometimes need) this distinction from other holiday cottages that may not allow pets.
A final note would be to consider the property market in the area. Is the house likely to go up, or down in value? Is the area currently up-and-coming, or is it stagnant? Always research into trends within the market before you make your final decision. It could save you money down the line, and even boost your future earnings!
The benefits of owning holiday cottages:
- The possibility of reoccurring guests. Some families vacation in the same homes every single year! That’s an assured flow of income that you regularly benefit from.
- Bonus income on top of your regular profession, or even the birth of a whole new career. Many who purchase holiday homes often go on to purchase more, having a small holiday cottage empire at their disposal, if that is their wish.
- Even when not renting out your cottage, you can benefit from it. You can take your family, your loved one, or even just yourself away there whenever you wish. It would be your own slice of the holiday life. There whenever you wanted it.
- In the current climate, with Brexit & Covid-19 on everyones minds, Brits are turning to holiday cottages more often, meaning there is a guarenteed rise in the market expected in the coming years.
- Holiday properties have stricter tenancy rights. Therefore, there’s less risk of tenants being troublesome or difficult to evict, if it ever came to that. This doesn’t happen regularly, though. Most holidayers are so grateful to be away and having fun that they’re ordinarily very gracious and respectful.
Another benefit is the opportunity to decorate another home. At Clooper, we believe that personalising the home, and even houses you offer for short-term lets, is a way to nourish creativity and identity. As Christmas approaches, the decorating spirit is even more present in the air! Click here for a handy guide on how to decorate your home for Christmas. All while on a budget, to boot!
This blog post is not intended to constitute legal or financial advice.