Investing in a holiday home in North Wales will give you the freedom to run a business from your own home in one of the most stunning parts of the UK. If you are considering taking this up, these are our handy tips for running a successful holiday let in the area. With our apartments for sale, the search for the perfect home to start with will be easy.
Firstly, decide what you want the main purpose of the property to be.
This will affect the type of property you choose to have a look at, where you want it, and how you will run your business. If you mainly want the holiday home for yourself, and will only be letting it out when you aren’t using it, you will most likely choose something different than if you had other families in mind.
Choose the right setting.
When buying any property, the location is one of the most important things. If you want to let out the all year round, then you will need to pick somewhere that has tourist services which will cater for this. It’s also a great idea to check what type of holiday lets are already in the area and find a niche which hasn’t been done yet.
North Wales is the perfect location for a luxury holiday apartment. It has great access links to Snowdonia’s mountains and an abundance of outdoor activities – which people want to experience all year round, from gorge walking in the summer to hiking up Snowdon in the snow. The local towns are exciting too, with many containing unique small businesses open year-round.
Work hard to suit the target market.
If you have a large holiday cottage, you would focus more on targeting families. If you had a luxury apartment, you might want to focus more on couples looking for a romantic retreat.
For any business, if you want to be charging the higher prices, you will have to be providing high-quality amenities. If you look for somewhere which already has high-quality fixtures, such as the german kitchens and modern chrome suites installed at our apartments in The View, it will save you a lot of work – especially if you want to get up and running immediately.
Prepare yourself to work hard.
More work goes into holiday rentals than you would first think. If you would prefer to just put the money in and get someone else to do it, this is also an option. You could choose to subcontract the work out to someone else living locally.
Whatever property and location you decide on, just make sure you do your research first.