When it comes to buying a holiday home in Dorset, you have come to the best place for the right advice.
Follow our top tips, including the best advice from local estate agents and avoid purchasing pitfalls.
We often get asked what makes a good holiday home. The old adage LOCATION, LOCATION, LOCATION comes to mind…however we would add…taking into account the price you are paying and property drawbacks. It is true to say that the best holiday homes are those with panoramic sea views, an acre of gardens and five star interiors. However these are not always the best investment. A sea view is highly desirable, but you will have to pay a premium that may not be recoverable. We would advise you to ask for a potential earning schedule, something we are happy to provide.
The best locations in Dorset with particular reference to earning potential are those that are within 10 miles of the coast. Holiday cottages should be in a quieter location, whilst modern homes can be in a town centre and still be relatively popular. The seaside towns/villages of Weymouth, Lulworth, Worth Matravers, Swanage and Studland are very popular. Villages and towns that lie further inland are also holiday hotspots and include Wareham, Corfe Castle, Poole & Purbeck Villages.
Local family owned estate agents Corbens, regularly manage the sale of holiday homes, they are based in Swanage and know why the resort is so popular:
“We are very lucky to live and work in the picturesque Isle of Purbeck. The Victorian town of Swanage, is a popular family holiday location with an award winning soft sandy beach, beautiful surrounding countryside and is well known for being the gateway to the Jurassic Coast, England’s first world heritage site. Much of the Isle of Purbeck is classified as being of Outstanding Natural Beauty and has many miles of footpaths and bridleways making it popular with walkers, cyclists horse riders alike. Attractive country cottages and properties with sea views close to the beach are always top of list. The population of Swanage doubles in the summer months and with annual fish, pirate, jazz, blues and folk festivals is a popular destination all year round for a holiday let.”
The ‘look’ of a holiday home is very important. An ugly exterior that is hard to photograph is hard to overcome, even with a lovely interior. However if the property is cheap to purchase and you were able/willing to add in a hot tub or swimming pool, then this may be more viable.
When you are viewing your home be careful not to overlook potentially costly works, even if the home you are viewing is currently a holiday let. Robert Wilson from Wilson Tominey Estate Agents in Weymouth has some sage advice
‘In respect to buying the right home, often the buyer of the property buys with holiday tinted glasses and surpasses the condition missing important assets of the property which whilst not apparent are at failing point, ie roof, woodworm, damp, plumbing and electrics. A full survey, which is a costly and seemingly unnecessary expense is prudent and will often more than pay for itself many times over. Most times, problems are highlighted that even the most savvy buyer did not account for. With this new outlay, given waiting for tradesman could very easily write off 2-3 months’ rent and even mess a whole season up, altogether making far an unpleasant and stressful experience. ‘
First of all decide why you are buying your new holiday home. If you are buying for investment buy the best location money can buy, coupled with the minimum facilities a guest would expect. Do not buy a luxury seaside pad that doesn’t have parking. The ‘minimums’ that guests expect are parking, pleasant approach, well kept freehold area, relatively quiet and accessible.
The next consideration would be how can i alter this home to make it attractive to my target audience. These requirements will differ markedly, depending on the size and style of home you are buying. We offer to visit any potential holiday home and offer free advice to help you buy the right holiday home.
If you are buying a one bedroom holiday home, your target market are couples. So consider, is there room for a travel cot in the bedroom. We would further divide this market into those that want a bolthole and those who look for modernity. Cosy boltholes ideally need walks on their doorstep and an open fire. The equally popular modern properties need high quality, contemporary interiors.
If you are buying a family size holiday cottage, your investment priorities will change. The cottage having a garden becomes more important as does extra reception rooms. A dining room is always popular with families and a kitchen that is in proportion with the property is a must. You may also want to consider the size of the bedrooms, sometimes a two bedroom with ensuite is more popular than a small three bedroom property. Also consider what size beds can fit in the bedrooms; guests prefer king size beds and adult size single beds. It is also worth considering the stairs in a property, steep stairs are not ideal.
As with other purchases do research your neighbours and plans for the area. Noisy neighbours, can soon damage your budding business and some apartments have restrictions on holiday letting and or pets. Check these details out at an early stage as sometimes this is missed from the sales particulars.
Look out for our next blog piece – furnishing your holiday home.
If you would like our Property Manager to visit your potential holiday cottage, please call Mrs Mahoney on 01929 553443 or email email@example.com